Okay, let’s talk about the Lakers.
Not their five rings. Not their Hollywood glamour. No—the price tag.
How much did someone actually pay for this basketball dynasty? Grab a snack. It’s a wild ride.
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The Big Number
The Lakers were bought for $67 million. That’s it. In 1979, Dr. Jerry Buss scooped up the team for a cool $67 million.
Today, that’s like buying a fancy yacht. Or a medium-sized private jet. Insane, right?
Now compare that to today’s value. The Lakers are worth over $6 billion. That’s a 100-to-1 return. Buss wasn’t just a genius. He was a time-traveling robber baron of sports.
The Real Story Behind the Cash
Jerry Buss didn’t just buy a team. He bought a package deal. The $67 million included the Lakers, the Kings hockey team, and the Great Western Forum.
He basically got a two-for-one with a side of arena. Sweet deal.
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But here’s the funny part: nobody else wanted it. The Lakers were losing money. The crowds were thin. Jack Kent Cooke, the previous owner, was drowning in debt. So Buss walked in, said “I’ll take it,” and changed everything.
What $67 Million Got You in 1979
For that price, you got Magic Johnson’s rookie season. You got Kareem Abdul-Jabbar’s skyhook. You got the Showtime era.
You got purple. You got gold. You got Jack Nicholson courtside in sunglasses at midnight.
And you got an absolute steal. Here’s a quirky fact: In 1979, a single Manhattan apartment in a luxury building cost about $1 million. Buss could have bought 67 apartments. Instead, he bought a franchise.
The Buss Family Bet
Jerry Buss didn’t have all the cash. He borrowed some. He put up his own real estate empire as collateral.
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His own daughter, Jeanie Buss, later joked that her dad “bet the house”—literally. Imagine telling your kids, “I’m risking our home for a basketball team.”
It worked. Obviously. But the risk was real. If Showtime flopped, Jerry Buss would have been a broke landlord.
Why This Is So Fun to Think About
The Lakers’ purchase price is like a sports time capsule. It reminds us that dynasties start with a crazy gamble.
In 1979, the NBA was small-time. Games weren’t even on cable TV everywhere. Players had mustaches. Short shorts were in style.
Fast forward to today. The Lakers are a global brand. Their TV deal alone is worth billions. And it all started with a check for $67 million.
The Weirdest Part
If you adjust for inflation, $67 million in 1979 is about $280 million today. Still a steal compared to current values.
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But here’s the kicker: the New York Knicks sold in 1997 for $300 million. That’s sixteen times more than what Buss paid, and the Knicks haven’t won a title since 1973.
The Lakers? They’ve won eleven championships since 1979. Talk about value.
What Would You Buy With $67 Million Now?
Let’s have some fun. You could buy 670,000 Lakers hats. Or 1,340,000 hot dogs from the arena.
You could rent out the Forum for 2,000 birthday parties. Or buy 1,340 tickets to a single Finals game. Just one game.
Or you could buy one LeBron James contract extension. Okay, maybe two.
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The Final Punchline
Jerry Buss died in 2013. He left the Lakers to his children. The team is now worth $6.4 billion.
That’s a 9,400% return. Better than Bitcoin. Better than Apple stock. Better than anything.
So next time you see a Lakers game, remember: the whole thing started with a home run bet on a dream. And a really, really good price tag.
One More Quirky Fact
In 1979, you could also buy a McDonald’s franchise for $500,000. Jerry Buss could have bought 134 McDonalds restaurants.
Instead, he bought basketball glory. And a lot of fries for the players.
Now that is a story worth telling.