Jump to content




Photo

Kevin Ding Article On Lakers' Ownership Future

MUST READ

  • Please log in to reply
14 replies to this topic

#1 West Coast

West Coast

    LN Senior Editor

  • 21,428 posts
  • Joined: Jul 31, 2008
  • Location:California
  • Fav. Laker:Kobe Bryant

Posted January 25, 2013 - 01:17 PM

This is a GREAT article by Kevin Ding, I had no idea that Jim and Jeanie were not speaking to each other.

The Lakers are going through a season that has their fans saying, repeatedly, "Just when you thought it couldn't get any worse ..."
What could be even worse than what the Lakers are going through now?

A lot, when you consider just how perilous the future of this glorious franchise is.

As much as Lakers fans wish it could be true, Jerry Buss isn't going to live forever.

He has been hospitalized in the recent past, hasn't attended a Lakers game in 1½ seasons, and for the only time since he bought the team in 1979 didn't bring his proud smile to the Lakers' group team photo last April.

Buss, whose 79th birthday is Sunday, has been the greatest owner in sports history, and the prospect of losing leadership that great is daunting for any organization in any field.

In Buss' case, the plan is to hand the Lakers down to his six children – already having daughter Jeanie in place to run the business side and son Jim the basketball side.

Well ... Jeanie and Jim aren't speaking to each other.

They haven't since Mike Brown was fired as Lakers coach in early November and the Lakers went through that unseemly, confusing, hurtful dance with Phil Jackson – the love of Jeanie's life and now her fiancé – before hiring Mike D'Antoni.

Whenever the sad day comes when the team has to be handed down to the Buss children, things promise to get even uglier.
Pau Gasol talked after the chemistry-lacking Lakers' latest loss in Memphis on Wednesday night about how "our family should be tight." And maybe the Lakers' team can still pull it together somehow this season, however difficult that is to envision.

In the same way, it's possible the Buss children can come together as a family after their father is gone and work together for years, decades or lifetimes in the way that the patriarch hoped. Jim and Jeanie have gotten along OK at times in the past.

It's just looking extremely unlikely, which is why there are already rumblings about very rich men gearing up to bid and outside investors putting together ownership groups with the idea that the discord within the family will lead the children to sell what Jerry Buss holds: 66 percent ownership of the Lakers.

Details are scarce as to how Buss' trust is set up, but it is believed that amid all the complicated rules and regulations, the children agreed previously to heed their father's wishes and structure the trust to keep that majority ownership in the family. The six children (Johnny, Jim, Jeanie, Janie, Joey and Jesse) are believed to be locked in together by the trust – so that they stay together or they sell together. It is unclear if any one of them can sell his or her individual shares at any point, though logic would suggest that no one can be bound for perpetuity.

If the family does not sell, one looming possibility is either Jim or Jeanie leaving his or her post in the organization and becoming an absentee owner. How that might be determined and whether their siblings would have a say in that is hard to say, but such a development would obviously alter the entire top of the Lakers' organizational structure.

If it turns out to be Jim who departs, it's no stretch at all to speculate what so many fans would love to imagine right about now: Jackson returning to the Lakers, to help Jeanie bring championships back.

Maybe – and what a twist it would be – Jackson returning as Jim Buss' replacement in running basketball operations? Maybe as head coach again? Maybe in a Tex Winter role as hands-on advisor to the head coach?

That's all assuming Jackson doesn't accept another job in Seattle, Brooklyn or elsewhere – though those clubs would not have his future wife attached ... unless she is the one who decides to leave the Lakers.

Jeanie, 51, is in her 14th season as Lakers executive vice president of business operations – but it was Jim, 53, who was groomed by their father to replace him. Lakers general manager Mitch Kupchak said of Jim before this season: "He's gradually taken the place of his dad so it's almost been a complete transition, really."

When I spoke to Jim before the season and asked him about the long-term future and the Buss family possibly selling the Lakers at some point, he said: "Just isn't a thought. I want to continue on."

There has been a lot of criticism of Jim for the Lakers' coaching hires aside from Jackson and for the Lakers losing lately, although everyone seemed sold on the wisdom of acquiring Dwight Howard and Steve Nashnot too long ago.

There is no doubt that Jim and Jeanie, separately, love the Lakers.

Whether they love each other the way that they love their father ... that's another issue.

If there is indeed some mechanism for freeing some of the children to sell their shares – and bear in mind how severe inheritance taxes can be – it's not hard to imagine some wanting to.

It's not hard to imagine anyone wanting to sell when you consider the economic stratosphere one could be launched into with Forbes valuing the Lakers at $1 billion on Wednesday. And sorry, that sounds spectacular, but a $1 billion projection is far too low in the real world: The dazzling Lakers brand built up by Jerry Buss transcends simple cash-flow analysis, and what an ego stroke it would be to the next majority owner (someone who most assuredly will have a huge ego already) to possess this golden toy.

So there might be a fight within the trust by some children for the right to sell – which could prompt a fight by some children trying to buy and stay in the family business. The Buss kids not nearly having billionaire money, it's no fantasy to envision Jim Buss teaming with Patrick Soon-Shiong on one side and Jeanie Buss teaming with Larry Ellison on another – though if you're going to put the money up, you'd think you'd want to be the guy in charge.

Maybe a David Geffen plan here, a Michael Eisner bid there, Magic Johnson everywhere trying to front a group ... everyone angling to own the Lakers, who for so long have been so stable and so solidly ruled. Talk about potential distractions as the Lakers try to stay focused on championship chances during Kobe Bryant's final stretch and beyond.

However it all goes down, it's going to be crazy.

Right now, few know or even care that 3 percent is Ed Roski Jr.'s, 4 percent is Soon-Shiong's and 27 percent of the Lakers is available with Philip Anschutz including his personal Lakers stake in his epic sale of AEG.
Right now, the Lakers remain Jerry Buss' team.

As messed up as they seem at 17-25 with the league's largest payroll by a mile and the new collective bargaining agreement undercutting so many of their old competitive advantages, the Lakers stand as something special, something trustworthy, something better as long as they are Jerry Buss' team.

When that safety net is gone, the circus will really be in town.


http://www.ocregiste...1-buss-jim.html

#2 UKUGA

UKUGA

    All-Star

  • 6,120 posts
  • Joined: Jul 29, 2008
  • Location:28269
  • Name:UKUGA
  • Fan Since:1981
  • Fav. Laker:Kareem Abdul-Jabbar

Posted January 25, 2013 - 01:42 PM

I think they will sell, or Jim Buss will hit the road. But, it may take 3-5 years to come to that conclusion. Some people forget this, but when Kobe was upset in the summer of 2007 and asking to be traded, Jim Buss was being blamed then. There was already discussion about how his ownership was ruining a once proud franchise.
Two championships later . . .

It's a little foggy, so it really is hard to know exactly how much Jerry has overseen Jim's decisions since that summer. The one thing that is certain is this: Once Jerry Buss passes away, there will be no more questions about his oversight.

Edited by UKUGA, January 25, 2013 - 01:44 PM.

www.twitter.com/ukuga


#3 Tensai

Tensai

    █▄█▄█ █ █▀█

  • 3,294 posts
  • Joined: Sep 19, 2010

Posted January 25, 2013 - 02:01 PM

The more I think about it, I think Jerry made the decision of hiring Mike D'Antoni over Phil and handing basketball relations to Jim and not to Jeanie for same reason : Phil and Jeanie's relationship. Phil has always been an employee in the Lakers organization. Jerry must have known that Jeanie would engage with Phil at some point and it would produce awkward results. Coupled with Phil's demands for the job, now the choice becomes obvious. In the end it didn't work well for the franchise for all the different reasons but I believe the current situation will not bring the end of the Lakers. Phil getting involved with Lakers franchise, entering to the heart of the matter, however, could have done that.

#4 True Lakers Fan

True Lakers Fan

    Dead Discussion! You will not win, because I will not lose&a

  • 23,358 posts
  • Joined: May 12, 2009
  • Location:San Antonio but from OC Cali
  • Name:Kyler
  • Fan Since:1990
  • Fav. Laker:Kobe, Swaggy and Kareem

Posted January 25, 2013 - 02:32 PM

does Jim hate Phil that much that he wont talk to his sister

Kobe%20Bryant%20Sig%20v3.jpg


#5 last stand 2.0

last stand 2.0

    Legend

  • 19,537 posts
  • Joined: Jul 29, 2008
  • Location:LA

Posted January 25, 2013 - 02:42 PM

does Jim hate Phil that much that he wont talk to his sister


No. Jeanie is not talking to him after the Phil issue
Posted Image

#6 Cj2008nw

Cj2008nw

    Sixth Man

  • 3,119 posts
  • Joined: Dec 26, 2011
  • Fan Since:1999
  • Fav. Laker:Kobe Bryant

Posted January 25, 2013 - 02:44 PM

Phil Jackson as the owner>>>>>>>> Jim Buss as the owner

#7 David

David

    Hall Of Fame

  • 9,246 posts
  • Joined: Dec 10, 2010

Posted January 25, 2013 - 05:19 PM

Lets go the Green Bay Packers way and let the fans buy shares of the team.

No coach can get hired without at least 75% approval from the users of LakerNation :laughing:

KOBE. #VINO. BRYANT.


#8    

   

  • 40,604 posts
  • Joined: Aug 26, 2010

Posted January 25, 2013 - 06:50 PM

and who suffers because of this as well? The fans! WE DO! Such nonsense.

yo.


#9 Ham

Ham

    Rap Enthusiast

  • 6,567 posts
  • Joined: Jul 10, 2012
  • Fan Since:Showtime
  • Fav. Laker:Magic Johnson, Kobe Bryant

Posted January 25, 2013 - 07:03 PM

Lol so our issues as a team is due to a bunch of spoiled "kids?"

Mike D'Antoni is GARBAGE.


#10 bigfetz

bigfetz

    Laker Fan

  • 17,969 posts
  • Joined: Dec 20, 2011
  • Fan Since:2005

Posted January 25, 2013 - 07:09 PM

Lol so our issues as a team is due to a bunch of spoiled "kids?"

Well not sure why jeanie and jim not getting along should effect our player but it shows immaturity from both.

#11 Ham

Ham

    Rap Enthusiast

  • 6,567 posts
  • Joined: Jul 10, 2012
  • Fan Since:Showtime
  • Fav. Laker:Magic Johnson, Kobe Bryant

Posted January 25, 2013 - 07:14 PM

Well not sure why jeanie and jim not getting along should effect our player but it shows immaturity from both.

I'm laughing at your avatar and member title.. We're all grieving together.

Mike D'Antoni is GARBAGE.


#12 bigfetz

bigfetz

    Laker Fan

  • 17,969 posts
  • Joined: Dec 20, 2011
  • Fan Since:2005

Posted January 25, 2013 - 07:16 PM

I'm laughing at your avatar and member title.. We're all grieving together.

Yea put that sucker up a week or so ago.

#13 Bjork

Bjork

    Sugg

  • 1,329 posts
  • Joined: Nov 30, 2011
  • Location:New Jersey
  • Name:James
  • Fan Since:2000
  • Fav. Laker:bean

Posted January 25, 2013 - 09:28 PM

Kevin Ding:

Statement from Buss family in the aftermath of my column today: "We unanimously agree that we have ...
no intention of ever selling the Lakers, and intend to keep ownership of the team in our family for generations to come."

Edited by Bjork, January 25, 2013 - 09:29 PM.


#14 netlord

netlord

    Flying high

  • 10,723 posts
  • Joined: Jul 29, 2008
  • Location:España
  • Name:Alexi
  • Fav. Laker:Kobe

Posted January 25, 2013 - 09:41 PM

Kevin Ding:

Statement from Buss family in the aftermath of my column today: "We unanimously agree that we have ...
no intention of ever selling the Lakers, and intend to keep ownership of the team in our family for generations to come."


I just hope Jim is far away from that.
Posted Image

#15 Busty Bluth

Busty Bluth

    --Hey Brother!--

  • 22,434 posts
  • Joined: Apr 15, 2009
  • Location:Moms House
  • Name:Byron "Buster AKA Busty" Bluth

Posted January 25, 2013 - 10:01 PM

Lets go the Green Bay Packers way and let the fans buy shares of the team.

No coach can get hired without at least 75% approval from the users of LakerNation :laughing:

As an owner of the GBP I approve this message.

Buster_bcfa40_2218659_zpsbf0d8a7a.gif





1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users