$10 Billion Lakers’ Miserly Ways Under Jeanie Buss Exposed After Sale to Mark Walter

Los Angeles Lakers will get a significant cash injection after billionaire Mark Walter bought out the majority stake from Jeanie Buss.

$10 Billion Lakers’ Miserly Ways Under Jeanie Buss Exposed After Sale to Mark Walter

Jeanie Buss' miserly ways will give way to Mark Walter's excesses (Image via FirstSportz)

Mark Walter handed over Jeanie Buss and her family billions to take over a majority stake in the Los Angeles Lakers. In doing so, the franchise’s valuation soared to $10 billion, and their fans are ecstatic about the team’s future with the Los Angeles Dodgers owner taking over.

It is not a complete takeover, as Jeanie Buss will continue to be the governor for at least the next few years. Unless her control over the team changes over time, much like how it was for Mark Cuban after he sold his majority stake in the Dallas Mavericks, the 63-year-old is likely to continue handling the team.

Now that Mark Walter has his $12.1 billion personal net worth behind the franchise, there is hope amongst fans that the purple and gold franchise will surge ahead, winning championships. That is especially after a latest ESPN report reveals some of the miserly ways of Jeanie Buss.

To be fair, the Buss family was the poorest owner in the NBA. The Lakers do amass significant revenue, but there needs to be a push from the top brass if they are to take the next step towards winning a title. As per ESPN’s Tim Bontemps and Dave McMenamin, there were some egregious mistakes.

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.

Tim Bontemps and Dave McMenamin wrote

They also revealed that the franchise received $4.6 million through the Small Business Administration’s Paycheck Protection Program when COVID-19 wrecked the season. They returned the money after facing intense backlash.

Lakers can build off-court departments to help on-court performance with Mark Walter’s billions

The article also detailed how the Los Angeles Lakers famously did not have a proper analytics department. The lack of cash flows meant that Rob Pelinka and, before him, Mitch Kupchak, had to work alone. Other teams have proper front offices where multiple personnel help to draw in the right players.

Pelinka has often been criticized for not being able to attract the necessary players to the team. Now, with a possible cash injection from Mark Walter, the franchise could start recruiting help. The Lakers also need cash to bring in additional scouts, player development trainers, medical staff, etc., to help the players.

Walter has done that for the Los Angeles Dodgers, and that resulted in two World Series wins. Lakers fans will hope that the franchise can start building right away and return to being the most competitive franchise in the league.

The NBA’s strict salary cap cannot allow a Dodgers-style run of signing the best players. But the Lakers have, in the past, given up on certain players and coaches just because they could not handle the luxury tax. Alex Caruso, currently playing in the NBA Finals and a major part of the 2020 Bubble championship, was the most recent example.

Lakers’ offseason could become interesting

Now the entire league knows that the Los Angeles Lakers are no longer cash-strapped. They also know that the franchise’s new majority owner would want to win. That could lead other teams to ask for more than what is a fair value for certain players.

Lakers looking to build championship team around LeBron James and Luka Doncic
Lakers looking to build championship team around LeBron James and Luka Doncic (Image via Blockbet/X)

However, if they can build a team around Rob Pelinka, featuring some of the best negotiators, the franchise can probably make some solid moves without giving up much. That brings the focus to the upcoming offseason.

The Lakers are expected to be aggressive as they look to build a team around Luka Doncic. They also know that LeBron James wants to win a title before retiring. Therefore, they have to move quickly and build a roster that can help the all-time leading scorer finish his career as the GOAT.

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