Jeanie Buss, owner of the six-time NBA champion Los Angeles Lakers, said new majority owner Mark Walter’s access to capital would allow the team to best compete with the NBA’s top franchises, and said her late father, Jerry Buss, would have supported the sale.
“What was important to him was that the Lakers remain at the top of the NBA, and to stay at the top of the NBA you need the resources,” Bass said. “Everyone needs to come together. And he’s going to want the Lakers[for]him, because the Lakers are his legacy.”
The NBA has a salary cap that limits team spending, but franchises have some flexibility if owners are willing to pay the luxury tax. According to Basketball Reference, teams currently spend around $154 million to $220 million per season, with the Lakers ranking seventh overall at $197 million. Walter has consistently been one of the top spending owners in Major League Baseball since purchasing the Los Angeles Dodgers in 2012.
Los Angeles Lakers minority owner Jeanie Buss and her husband Jay Mohr are pictured before the Lakers vs. Minnesota Timberwolves game in the first round of the NBA playoffs at Crypto.com Arena in Los Angeles on April 19, 2025.
Keith Birmingham | Media News Group | Pasadena Star News | Getty Images
Bass and his family agreed last year to sell a majority stake in the team to Walter at a valuation of $10 billion. ESPN recently documented the significant conflict between the Bass brothers that led to the sale, with Bass calling it “bittersweet.”
When Jerry Buss died in 2013, he left ownership of the team in a trust to his six children.
“My brothers were involved in this decision,” Jeanie Buss said. “This is about the Lakers and their greatness and fan expectations, and they need resources and direction. It’s safe to say that everyone in my family has different opinions and lives their lives choosing what they want to do with their time. This was the best decision for all six of us.”
The Bass family retained about 15% of the team, and Jeannie Bass agreed to remain as governor for at least five years. Still, when asked if he plans to stay for the full term, Bass appeared to be evasive.
“That’s what I agreed to,” Bass said. “Mark Walter and I are very happy with the way things are working. And I expect things to go well and be successful. And, you know, I’m not going anywhere.”
Bass acknowledged that the past 12 months have been a transitional year for the team, considering both the sale nearly a year ago and the team’s decision to trade star forwards Anthony Davis and Luka Doncic. Bass said the team is currently focused on building around Doncic rather than the 41-year-old LeBron James, who has been the face of the team since joining in 2018.
Luka Doncic holds his uniform, Los Angeles Lakers head coach JJ Redick (right), and general manager Rob Pelinka are introduced.
Harry Howe | Getty Images Sports | Getty Images
“This partnership will give us stability as we continue to move forward as a team centered around Doncic,” Bass said. “We couldn’t be more proud that he’s a Laker. He’s a young All-Star that our fans love to watch.”
James said Sunday he doesn’t know yet whether he will play beyond this season. Buss said he would leave James’ future with the Lakers up to him. Still, she seemed doubtful he would return to the team next season, either to retire or to choose to play elsewhere.
“I’m not saying never, but he certainly hasn’t shown any signs,” Bass said. “He has earned the right to decide what his career is going to be, and you know, he continues to make an impression.”
Tequila brand launch
Bass also talked about Cincoro, a tequila brand that was founded in 2016 when five friendly competitors met for dinner before and after an NBA board meeting and bonded over a shared passion for tequila. The group also included Bass. Michael Jordan, owner of the Charlotte Hornets at the time. Wes Edens, co-owner of the Milwaukee Bucks. Former Boston Celtics co-owner Wyke Grousbeck and his wife Emilia Fazzalari.
Founder of Cincoro Tequila, from left: Wes Edens, Michael Jordan, Emilia Fazzalari, Jeanie Bass, and Wick Grousbeck.
Source: Cincoro Tequila
“We all had mutual appreciation for tequila,” Bass said. “And we’re a very competitive group, so we thought, ‘You know what? We could probably make a better group.'” And that night, Cincoro was born. ”
Although Jordan is known as a fierce competitor on the court, Bass said he’s no different behind the scenes and is deeply involved in the business.
“We beat the Los Angeles Lakers in the first championship, so we knew he was a formidable competitor,” she said. “That’s what he’s like in the boardroom: ‘Who are we playing against? Let’s be better than that. Let’s try harder. Let’s be more creative.'”
Jordan brought in a design team, and the result was a unique bottle that Bass calls a “work of art.”
“When you work with Michael Jordan, the bar is set high,” she said. “I’ve seen him have great success not only as a player but also as a businessman.”
Cincoro is currently a sponsor of the Los Angeles Lakers, and Bass unveiled a limited-edition Lakers purple and gold Añejo bottle on Tuesday. Bass said this is a nod to both the franchise’s championship history and the brand’s premium status.
