Former Lakers Owners Raise Eyebrows with Investment in New Sports Team
Former owners of the Los Angeles Lakers are expanding into MLB, but it's not with the team you might expect.
For years, the Los Angeles Lakers have seen numerous changes in their ownership, but recently, two of Jerry Buss's children, Joey and Jesse, have decided to get back into sports by investing in a Major League Baseball team. It's not the Los Angeles Dodgers, however, but rather the San Diego Padres, according to ESPN reporter Dave McMenamin.
The Buss family recently sold their majority stake in the Lakers to Dodgers owner Mark Walter, and then divested entirely as Walter sold the team to former Disney CEO Robert Iger and Josh Kushner. Given these ownership connections and the Los Angeles tie, the Dodgers might have been a more logical choice. However, Joey Buss stated that he and Jesse have always been Padres fans, having loved the team since their childhood in San Diego.
The Buss children are purchasing around 5% of the Padres through their investment firm, Buss Sports Capital. They aim to contribute to the future of the team and capitalize on the strong community of Padres fans. With their experience from working with the Lakers, the Buss family believes they have valuable insights to bring to the Padres, which are on the verge of achieving something special.
Written by urgent.news from Newsweek's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
