BREAKING NEWS: The Buss brothers are making headlines with the launch of their new sports investment firm, Buss Sports Capital, as they expand their influence beyond the Los Angeles Lakers. Joey Buss, the Lakers’ alternate governor and vice president of research and development, and his brother, Jesse Buss, the assistant general manager, aim to tap into lucrative acquisition opportunities across the global sports landscape.
Sources confirm that Buss Sports Capital is designed to forge strategic partnerships and investments specifically in the sports sector. Both brothers have deep ties to the Lakers, an organization their father, the late Dr. Jerry Buss, purchased in 1979. Since his passing in 2013, the team has been managed through a family trust.
In a significant business move, the Buss family agreed to sell their controlling stake in the Lakers to Mark Walter, owner of the Los Angeles Dodgers, for a staggering $10 billion. This sale is currently pending approval from the NBA’s board of governors and is expected to be finalized in the coming months. Both Joey and Jesse will retain their roles with the Lakers even after the sale is completed, while their sister, Jeanie Buss, will continue as the primary team governor.
“Our vision is to really go after strategic investments and good partners — specifically sports-related investments,” Joey Buss shared in an exclusive interview with ESPN. He emphasized that Buss Sports Capital will not compete with their Lakers interests, stating, “This is our first step to where the future of sports is going to lead us.”
The new firm has already partnered with CAA Evolution to spearhead its transaction processes, and EM Securities will serve as its banking partner. This strategic collaboration positions Buss Sports Capital as a formidable player in the sports investment field.
With years of experience in talent acquisition and development within the Lakers organization, Joey has served as president and CEO of the South Bay Lakers, the team’s G League affiliate, while Jesse has been instrumental in the draft process, focusing on scouting.
“I look forward to working with my brother, Joey, for the next 50 years,” Jesse Buss remarked, signaling a commitment to a legacy that extends beyond their immediate endeavors. “Hopefully, this is something that can live through our children. That’s what our dad would have wanted.”
As the sports landscape continues to evolve, all eyes will be on Buss Sports Capital and its future moves. The timing of this launch could not be more critical, as the world of sports investment grows increasingly competitive and dynamic. Fans and investors alike are eager to see how the Buss brothers will leverage their expertise and connections in this new venture.
Stay tuned for further updates on Buss Sports Capital and its impact on the sports industry.
