Jeanie Buss is the governor of the Lakers and makes all the major decisions on the the Lakers future. Jeanie has been the governor since 2013. Jeanie’s dad, Dr. Jerry Buss, had been the majority owner of the Lakers since the early 1980s. This may make you wonder does Jeanie Buss own the Lakers?
Does Jeanie Buss own the Lakers? Jeanie Buss owns 11% of the Los Angeles Lakers via a trust, with the remaining 55% held by her siblings. Jeanie is appointed as the governor of the Lakers and all decisions ultimately end with her.
In this article we look at the ownership of the Lakers and how it is split between the Buss siblings and the the other minority parties. Including LA Dodgers and Chelsea FC owner Todd Boehly.
When Dr. Jerry Buss died in 2013, he left his majority shareholding of the Lakers in a trust to all his children. He had six children in total and they each received 11% of the trust. Therefore, each of them owned 11% of the Lakers. However, a week after Dr. Buss’s death, it transpired that Jeanie Buss was to be the governor and ultimate shot caller for the Los Angeles Lakers. This came as a bit of a surprise to the rest of the siblings, however, Jeanie had always been a made aware of the plan for her to be the governor and to call the shots.
There was a period of tension between the siblings in particular Jeanie’s brother Jim who was head of basketball operations at the Lakers (and was later sacked by Jeanie for under performance). Jim and Johnny wanted to look at the trust deeds to ensure that Jeannie did have the authority that had been stated. Jeanie had to put in a restraining order against her brothers prior to a court hearing to understand the trust. The judge confirmed that although Jeanie only held 11%, she was the governor of the Lakers and ultimate shot caller.
Does Todd Boehly Own the Lakers?
Phil Anschutz had been a long time partner with the Buss family in the Lakers and a held a 27% stake of the team. For the first time in a quarter of a century, there was a change of equity ownership in the Lakers in 2021. Phil Anschutz agreed to sell his 27% stake of the Lakers to Todd Boelhy and Mark Walter. Boehly and Walter already owned part of the LA Dodgers and purchased the 27% interest in the Lakers for $1.24 billion. Twelve months later Boehly purchased Chelsea Football Club for $2.5 billion
Does Magic Johnson own the Lakers?
Magic Johnson had held 4.5% of the Lakers since he was a player. However, being a savvy businessman, he decided that he wanted to sell his take in the Lakers in order to purchase a piece of the Detroit Pistons. Magi Johnson had made more money through his business investments then his basketball career. He sensed it was time to move on from the Lakers and Magic Johnson sold his 4.5% stake in the Lakers to Patrick Soon-Shiong for an estimated 27 million in 2010.
Ed Roski is the other minority owner of the Lakers having purchased 2.5.% of the Lakers in 1998.
Break down of Lakers Ownership by Percentage
The Los Angeles Lakers are held by the following people and their percentage of ownership is included.
|Individual Owner of the Lakers||Percentage of Ownership of the Lakers|
|The Buss Family|
(Jeanie Buss, Jim Buss Janie Buss, Jesse Buss, Johnny Buss and Joey Buss each own 11% of the Lakers and collectively the family holds 66% of the Lakers)
|Todd Boehly and Mark Walter||27%|