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USA Today
11 hours ago
- Business
- USA Today
ESPN report reveals how 'miserly' Lakers have been under Jeanie Buss
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. 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." 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. Lakers fans, by and large, are now optimistic that similar results could lie ahead for the Purple and Gold.
USA Today
11-03-2025
- Business
- USA Today
Lakers won award at Sloan Analystics Conference for Luka Doncic trade
Lakers won award at Sloan Analystics Conference for Luka Doncic trade While the Dallas Mavericks have been universally criticized for trading away young generational superstar Luka Doncic to the Los Angeles Lakers, the Lakers have gotten credit for not only pulling off the tectonic trade but for also keeping negotiations a secret. Negotiations took several weeks between Lakers general manager Rob Pelinka and Mavericks executive Nico Harrison, who have been friends going back some 20 years. Los Angeles only gave up superstar big man Anthony Davis, rising 3-and-D wing Max Christie and one future first-round draft pick to the Mavs for Doncic, who is regarded by most as one of the two to three best basketball players in the world. The Purple and Gold reportedly received an Alpha Award for Transaction of the Year across all sports at the Sloan Analytics Conference over the weekend for landing Doncic. Pelinka, who had been lambasted by many people and Lakers fans for some questionable and bad moves in the last few years, deserves credit for negotiating down the price for Doncic, which originally included rookie sharpshooter Dalton Knecht and an additional future first-round draft pick. As a result, the franchise now has its next transcendent player for up to the next 10 years or so and could be poised to win multiple NBA championships as a result.
