Latest news with #Lakers
Yahoo
38 minutes ago
- Business
- Yahoo
ESPN report reveals how 'miserly' Lakers have been under Jeanie Buss
The ownership of the Los Angeles Lakers is changing hands. On Wednesday, the Buss family, which has owned the team since 1979, reportedly agreed to sell a majority share of it to Mark Walter, the CEO of Guggenheim Partners, for a valuation of $10 billion. While the Lakers have become one of the most prestigious sports franchises and brands under the Buss family's ownership, most of their success during that time came when the late Dr. Jerry Buss was their owner from 1979 to 2013. When Dr. Buss passed away in 2013, control was passed down to his children, and the Lakers have gone through many peaks and valleys since, with the valleys becoming more numerous than the peaks. Advertisement A lot of the criticism of how the franchise has been run has centered around the perception that it has operated like a mom-and-pop small business, especially since the Buss family isn't particularly cash-rich. In fact, an ESPN report on Wednesday's sale outlined several concerning ways in which the team has pinched pennies. Many remember how it failed to hire Tyronn Lue to be its head coach in 2019 after Lue wanted a little more money and a longer contract. But the other examples of what ESPN called its "miserly traits" don't reflect well on how it has been run. One instance had to do with one of its assistant coaches. "An assistant coach was not approved to stay at the same hotel as the player he was traveling to work out with in the offseason because the room was too expensive," wrote Tim Bontemps and Dave McMenamin. Prior to the NBA lockout in 2011, a sizable number of team staffers and employees were laid off, including one longtime member of the front office. "Former assistant GM Ronnie Lester's contract was not renewed during the NBA lockout in 2011, a financial decision and one of many in a rash of layoffs or nonrenewals." Advertisement Plus, in one move that resulted in lots of criticism, the Lakers asked for financial help from the government during the height of the COVID-19 pandemic through a program that was designed to help small businesses, not world-class sports franchises. "The team applied for federal relief through the Small Business Administration's Paycheck Protection Program during the COVID-19 hiatus. After considerable backlash, they later returned the $4.6 million to the government." As NBA teams started to utilize analytics more and more in recent years, the Lakers lagged behind. They were the only team in the league that wasn't represented at the Sloan Analytics Conference in 2013. That did start to change, however, last offseason, when they hired coach JJ Redick and Redick urged them to become more data-driven. Walter has owned a sizable chunk of the Los Angeles Dodgers since 2012. At the time, the Dodgers were a franchise that enjoyed plenty of success in the 1950s, 1960s, 1970s and 1980s but had fallen on hard times for roughly the previous 20 years. Under his ownership, they have won the National League West in 11 of the last 12 seasons, and they have won the World Series championship in 2020 and 2024. Walter built up the team's analytics department, hired standout front office people such as Andrew Friedman and spared no expense in acquiring former MVPs in their primes, such as Mookie Betts, Freddie Freeman and Shohei Ohtani. Advertisement Lakers fans, by and large, are now optimistic that similar results could lie ahead for the Purple and Gold. This article originally appeared on LeBron Wire: ESPN report reveals how 'miserly' Lakers have been under Jeanie Buss
Yahoo
39 minutes ago
- Business
- Yahoo
Brian Windhorst warns rest of NBA after sale of Lakers
No one can say with any certainty how much success the Los Angeles Lakers will have in the coming years now that a majority share of the franchise will be sold by the Buss family to Mark Walter. Walter, the CEO of Guggenheim Partners, has been the primary owner of the Los Angeles Dodgers since 2012, and under his leadership, the Dodgers have consistently enjoyed a high level of success that includes 11 National League West titles and two World Series championships. If nothing else, it is projected that the Lakers will not spare any expenses when going after the best men and women to fill numerous roles within the organization. For years, they have been criticized for being run like a mom-and-pop small business that has consistently pinched pennies. That approach has worked against them, most notably when super sub and fan favorite Alex Caruso left in free agency in 2021 and Tyronn Lue turned down their offer to be their head coach in 2019. Advertisement NBA reporter Brian Windhorst said that this new ownership is good news for the Lakers — and bad news for the rest of the league. "If I were another team, I would not think this is a great development," Windhorst said. "I think the Lakers are only gonna get more dangerous as an organization with the more resources that are theoretically here about to be poured into it." Historically, the Lakers have been a big draw for some of basketball's greatest titans, including Shaquille O'Neal, Kobe Bryant and LeBron James, and they have always seemingly been able to trade for a Hall of Famer just when it has seemed that they were down and out. But now, presumably at least, money will not be an issue when looking to upgrade the roster or the rest of the organization. How exactly this apparent influx of capital will translate to personnel moves remains to be seen, but one has to reasonably expect a positive development in that regard. This article originally appeared on LeBron Wire: Brian Windhorst warns rest of NBA after sale of Lakers
USA Today
an hour ago
- Business
- USA Today
Brian Windhorst warns rest of NBA after sale of Lakers
Brian Windhorst warns rest of NBA after sale of Lakers "If I were another team, I would not think this is a great development. I think the Lakers are only gonna get more dangerous as an organization with the more resources that are theoretically here about to be poured into it." — Brian Windhorst 👀 — ClutchPoints (@ClutchPoints) June 19, 2025 No one can say with any certainty how much success the Los Angeles Lakers will have in the coming years now that a majority share of the franchise will be sold by the Buss family to Mark Walter. Walter, the CEO of Guggenheim Partners, has been the primary owner of the Los Angeles Dodgers since 2012, and under his leadership, the Dodgers have consistently enjoyed a high level of success that includes 11 National League West titles and two World Series championships. If nothing else, it is projected that the Lakers will not spare any expenses when going after the best men and women to fill numerous roles within the organization. For years, they have been criticized for being run like a mom-and-pop small business that has consistently pinched pennies. That approach has worked against them, most notably when super sub and fan favorite Alex Caruso left in free agency in 2021 and Tyronn Lue turned down their offer to be their head coach in 2019. NBA reporter Brian Windhorst said that this new ownership is good news for the Lakers — and bad news for the rest of the league. "If I were another team, I would not think this is a great development," Windhorst said. "I think the Lakers are only gonna get more dangerous as an organization with the more resources that are theoretically here about to be poured into it." Historically, the Lakers have been a big draw for some of basketball's greatest titans, including Shaquille O'Neal, Kobe Bryant and LeBron James, and they have always seemingly been able to trade for a Hall of Famer just when it has seemed that they were down and out. But now, presumably at least, money will not be an issue when looking to upgrade the roster or the rest of the organization. How exactly this apparent influx of capital will translate to personnel moves remains to be seen, but one has to reasonably expect a positive development in that regard.
Yahoo
an hour ago
- Business
- Yahoo
Lakers Star Turns Heads With 1-Word Message After Unexpected News
Lakers Star Turns Heads With 1-Word Message After Unexpected News originally appeared on Athlon Sports. The Los Angeles Lakers grabbed national headlines on Wednesday after ESPN reported the Buss family is selling a majority stake to Dodgers co-owner Mark Walter for a staggering $10 billion—marking the largest sale in U.S. pro sports history. The news triggered a wave of discussion across the NBA community, with many speculating about implications for the team's direction, roster stability, and what new ownership might bring. Advertisement Jerry Buss bought the Lakers in 1979 for $67.5 million, ushering in the franchise's most successful era with 11 championships, ultimately transforming LA into a basketball powerhouse. Now, under Walter—whose Dodgers won two World Series—new ownership brings deep resources and global ambition to propel the franchise forward. After the unexpected news of the Lakers' ownership transition, forward Jarred Vanderbilt drew strong reactions from fans with a post on Instagram. "Lab," he captioned his post. However, fans caught wind of the post on social media, and many opted to joke about the timing, tying it to speculations about roster moves under new ownership: Advertisement 'lmaooo 😂😂😂 he doesn't want to leave,' one fan wrote. 'Lmao he don't wanna go back to Utah,' another fan added. 'man he been working on that shot for 3 years now and haven't really made that much improvement lol,' another fan said. Los Angeles Lakers forward Jarred Vanderbilt (2)Stephen Lew-Imagn Images 'Nawl buddy it's time,' one fan mocked. 'He's next to leave,' another fan declared. 'The nets gon' need that from him for sure,' another fan mentioned. Vanderbilt, the defensive-minded forward, quietly made his mark in 2024-25 despite struggles with injuries. He averaged 4.1 points, 5.1 rebounds, 1.1 assists, and 1.0 steals per game. Related: Calls Mount for Mavericks to Trade Anthony Davis After New Report Related: Celtics Make Unexpected Luka Doncic, LeBron James Post on Wednesday This story was originally reported by Athlon Sports on Jun 20, 2025, where it first appeared.
Yahoo
2 hours ago
- Sport
- Yahoo
GAME 7!!! Pacers blowout OKC, trade speculation, NBA expansion & KD confusion
KOC and Tom Haberstroh went LIVE to react to the Indiana Pacers destroying the Oklahoma City Thunder in Game 6. Is Indiana about to prove to the world on Sunday that they are a team of destiny? GAME 7!! Plus, all the latest NBA Trade and NBA Draft rumors! Kevin Durant, Paul George, Ace Bailey and tons of rumors — and of course the guys react to the sale of the Los Angeles Lakers AND the Seattle Supersonics potentially coming back with talks of "expansion" in the air. Advertisement (00:45) - Pacers blow out Thunder to force Game 7 (24:15) - Is Ace Bailey skipping Philadelphia 76ers visit cause for concern? (33:15) - Haliburton was right to play tonight (47:15) - League news: Lakers plan to sell + latest on NBA expansion & rule changes (56:40) - Latest on Cooper Flagg (1:01:10) - NBA trade tumors: Kevin Durant & Paul George INDIANAPOLIS, INDIANA - JUNE 19: Tyrese Haliburton #0 of the Indiana Pacers celebrates a basket against the Oklahoma City Thunder during the second quarter in Game Six of the 2025 NBA Finals at Gainbridge Fieldhouse on June 19, 2025 in Indianapolis, Indiana. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by) (Photo by) 🖥️ Watch this full episode on YouTube Check out the rest of the Yahoo Sports podcast family at or at Yahoo Sports Podcasts
