Buss Family Ventures into Baseball: A Potential Ownership Stake in the Athletics
A Unique Transition
As the Los Angeles Lakers navigate a new era under different leadership, the Buss family is not sitting idle. Recent reports suggest that brothers Joey and Jesse Buss, recently released from executive roles with the Lakers, are eyeing a significant opportunity to invest in the Oakland Athletics. This exploration into baseball marks an intriguing pivot for the Buss family, known primarily for its deep-rooted association with basketball.
The Context of the Buss Family
Joey and Jesse Buss, the sons of the late Jerry Buss, who famously transformed the Lakers into a basketball empire, have established themselves within the sports industry. Just a month after their departure from the Lakers’ organization, they announced the formation of Buss Sports Capital. This venture aims to identify innovative investment opportunities within the broader realm of professional sports, signaling their determination to remain influential in the sports world.
Recent Changes in Lakers Ownership
While Joey and Jesse retain their ownership stakes in the Lakers, the landscape of the team has shifted. In October, Mark Walter, the owner of the Los Angeles Dodgers, acquired a majority stake in the Lakers for a staggering $10 billion. This transition led to an assessment of the Lakers’ front office operations by Dodgers president of baseball operations Andrew Friedman and former general manager Farhan Zaidi, marking a period of reevaluation for the storied franchise.
Exploring New Horizons
The discussions regarding a potential ownership stake in the Athletics appear to be in the preliminary stages. Though specifics remain under wraps, such a move would signify a strategic diversification for the Buss brothers. Their willingness to venture into baseball demonstrates an interest in expanding their influence beyond basketball and potentially reshaping the future of another major league franchise.
A’s Move and Future Prospects
The Athletics, currently in a state of transition after leaving Oakland, are preparing for their relocation to Las Vegas in 2028. With a new stadium under construction, projected to hold 30,000 fans, the team is shifting its focus toward rebuilding. The projected costs for the stadium have escalated to approximately $2 billion, underscoring the financial stakes involved in this strategic move. Owner John Fisher is actively seeking minority investors to help offset construction expenses, indicating the team’s interest in attracting fresh capital.
Rebuilding for Success
Amid four consecutive losing seasons, the Athletics are implementing a rebuilding strategy, supported by a promising roster of young talent. Players like American League Rookie of the Year Nick Kurtz, shortstop Jacob Wilson, and outfielder Tyler Soderstrom showcase the A’s commitment to cultivating a competitive team as they prepare for their Las Vegas debut. The youth and potential of this group aim to usher in a new era of success for the franchise, countering the struggles of the past few years.
Financial Landscape and Valuation
The financial evaluation surrounding the Athletics is complex. While Fisher currently values the team around $2 billion, estimates from various outlets paint a slightly different picture, with values ranging from $1.6 billion to $2 billion. This variance highlights the intricate negotiations at play as the A’s seek to secure investments to ensure the future of the franchise in Las Vegas.
Looking Ahead
The Buss brothers’ foray into this endeavor not only reflects their commitment to sports but also their intention to be pivotal players in baseball’s narrative. As they explore new avenues for investment, the potential intersection of their legacy with the Athletics could offer exciting developments for fans of both franchises. The dynamics within the sports industry are constantly evolving, and the Buss family’s next move could significantly impact the future of baseball in Las Vegas.