Ever found yourself watching a Lakers game, mesmerized by the purple and gold, and thought, “Wait, who actually owns this whole operation?” It’s a fair question. The team feels like it belongs to Los Angeles itself, like the Hollywood sign or traffic on the 405. But in reality, there’s a fascinating family story behind the throne.
The Buss Family Legacy
For the modern fan, the answer is the Buss family. Specifically, the controlling owner is Jeanie Buss, and she’s been running the show for a while now. Her father, the legendary Jerry Buss, bought the team back in 1979 for a cool $67 million—which today seems like pocket change for a franchise worth over $6 billion. Talk about a good investment, right?
Jerry Buss wasn’t just an owner; he was a visionary. He turned the Lakers into a global brand by mixing basketball with Hollywood glitz. Courtside seats became a movie set, and the “Showtime” era was born. But after Jerry passed away in 2013, his six children inherited the team, which led to… a little family drama.
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A Sibling Rivalry for the Ages
Here’s where it gets juicy. Jerry didn’t leave the team to just one kid. He created a trust where each child got a piece of the pie, but Jeanie was given the power to control the franchise. Her brother, Jim Buss, initially ran the basketball operations—and let’s just say, those were some rough years for Laker fans.
Finally, in 2017, Jeanie made the tough call to fire Jim and bring in Magic Johnson as a basketball consultant. It was a power move straight out of a TV drama. Now, Jeanie holds the title of Governor and Controlling Owner, meaning she has the final say. Her other siblings are still minority owners, but Jeanie is the captain of the ship.
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Isn’t it cool how a family squabble shaped the fate of a billion-dollar franchise? It’s like a real-life version of “Succession,” but with more three-pointers and fewer yacht scenes.
But Wait—What About Phil Jackson?
You might be wondering about the “Zen Master” himself, Phil Jackson. He’s a huge part of Lakers history, winning five championships as a coach. And yes, he was also engaged to Jeanie Buss for years! They were the ultimate power couple—basketball royalty. But they never married, and Phil is not an owner.
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So, for the record: Phil doesn’t own a share. He’s just a really, really famous ex-boyfriend who happens to have eleven championship rings. Talk about awkward family dinners, huh?
The Real Boss: Jeanie Buss
Jeanie Buss is a fascinating figure. She grew up around the team, selling peanuts at the Forum as a teenager. Now, she’s one of the most powerful women in all of sports. She’s not just an owner; she’s a steward of the Lakers’ legacy. She makes the tough calls, from signing LeBron James to trading for Anthony Davis.
What’s really interesting is her style. Unlike some loud, flashy owners you see on TV, Jeanie is quietly determined. She lets the players and coaches take the spotlight. But make no mistake: when a decision needs to be made, she’s the one holding the gavel. She’s like the wise aunt who lets everyone have fun, but you know she’s the one paying the bills.
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Why This Matters to You (Yes, You)
Why should you care about the owner of a basketball team? Because owners set the vibe. They decide whether the team plays it safe or swings for the fences. The Lakers have consistently swung for the fences—trading for superstars, winning titles, and staying relevant for decades. That’s not an accident; it’s a culture built by the Buss family.
Think about it: Would the Lakers still be the Lakers if Jerry Buss hadn’t bought the team back in ’79? Or if Jeanie had let her brothers run the team into the ground? The answer is probably no. The ownership is the soul of the franchise.
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So… Are There Any Other Owners?
Technically, there are 20 other partners who own small stakes in the team. They’re a mix of wealthy investors and friends of the Buss family. But none of them have a voice like Jeanie. It’s a family business, through and through. Even Magic Johnson sold his small ownership share back in 2010. He’s not coming back as an owner anytime soon.
And no, you can’t buy a piece of the Lakers. They’re not publicly traded. So unless you’ve got a few hundred million dollars lying around, you’re stuck being a fan—which, honestly, is a pretty great deal.
So next time you watch a Lakers game, remember: The woman in the front row with the calm smile and the family drama behind her is the one keeping the engine running. It’s her team. And we’re just lucky to be along for the ride.