Buss Sports Capital
Two members of the Buss family, the majority owners of the National Basketball Association’s (NBA) Los Angeles Lakers, have launched a separate sports investment firm.
Joey Buss (pictured left), the Lakers’ alternate governor and vice president of research and development, and Jesse Buss (pictured middle), the franchise’s assistant general manager, will create Buss Sports Capital. The new entity will pursue acquisitions, partnerships and investment opportunities across the global sports ecosystem.
Buss Sports Capital is not expected to have any impact on the Lakers, or the wider family’s ownership of shares in the NBA outfit. The Buss family has owned the Lakers since 1979, with Jeanie Buss, the older sister of Joey and Jesse, serving as the team’s governor and controlling owner after Jerry Buss passed away in 2013.
In June, the Buss family confirmed they would sell their majority interest in the Lakers to Mark Walter at a reported valuation of US$10 billion, which was then a record for a sports team. The Athletic has reported that the sale, which is expected to be ratified later this year, could eventually value the team at US$12 billion.
According to ESPN, both Joey and Jesse Buss intend to stay with the franchise once the sale is finalised, having worked in various roles with the Lakers for many years.
Buss Sports Capital will partner with Creative Artists Agency (CAA) Evolution to lead the transaction process for potential investments, while EM Securities will be the firm’s banking partner.
“We are thrilled to launch Buss Sports Capital and embark on this exciting new chapter,” said Joey Buss. “Jesse and I are grateful to have honed our championship-level expertise with the premier team of the NBA, from high-level business decisions to leading the NBA Draft and development program for the Lakers.
“We will draw from my diverse and comprehensive role with the Lakers and Jesse’s expertise and track record as Assistant GM of the Lakers to apply our knowledge and experience to attract new partners and drive value for future investments and acquisitions.
“By combining our deep industry knowledge with CAA Evolution’s transactional expertise and EM Securities’ financial acumen, we are uniquely equipped to deliver exceptional opportunities in the global sports market.”
“I look forward to working with my brother Joey to further cement the Buss family name in sports,” added Jesse Buss.
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LA Lakers’ Buss brothers launch sports investment firm – SportsPro
