Jerry Buss Lakers Purchase Price and Deal Structure
Jerry Buss completed the acquisition of the Los Angeles Lakers on June 18, 1979, for a reported $67.5 million, which included the team, The Forum, and a substantial stake in the surrounding entertainment complex. The transaction was one of the largest sports franchise purchases in history at the time and was funded through a combination of personal capital and financing, with Buss leveraging his background in chemistry and real estate investment to structure the deal. Prior to the purchase, the Lakers were owned by Jack Kent Cooke, who had built the franchise into a national brand, and Buss acquired the team through a complex multi-party agreement that also involved the NBA approving the transfer of the franchise and its associated assets. The purchase price of $67.5 million was a record for professional basketball at the time, and the deal is frequently cited in discussions of how much Jerry Buss paid to buy the Lakers, with later valuations showing the franchise grew in value by more than 100x over the following decades. The acquisition also included Buss gaining control of the Los Angeles Strings of the World Team Tennis league and other entertainment ventures tied to The Forum, giving him a diversified portfolio that extended beyond basketball. Buss's ability to finance the purchase was supported by his earlier success in oil and real estate, and he used a combination of cash on hand and borrowed funds to complete the transaction, with lenders and partners backing the deal based on the long-term revenue potential of the Lakers and The Forum. The structure of the deal set a precedent for how sports franchises could be treated as entertainment businesses rather than purely athletic operations, and Buss's approach influenced subsequent ownership models across the NBA and other leagues. For a detailed breakdown of the financial terms and valuation, see the historical reporting on the sale here.
Jerry Buss Background and Path to Lakers Ownership
Jerry Buss was born on January 27, 1933, in Salt Lake City, Utah, and grew up in a family that experienced financial hardship after his father abandoned the household, forcing Buss and his siblings to work from a young age to support themselves. He earned a bachelor's degree, a master's degree, and a Ph.D. in physical chemistry from the University of California, Los Angeles, and early in his career he worked as a professor and researcher while also investing in real estate and oil leases, which gave him the capital base that later enabled the Lakers purchase. Buss's entry into sports ownership began with his acquisition of the Los Angeles Strings in 1974, and his success in building that franchise and managing The Forum gave him the credibility and experience to pursue the Lakers, culminating in the 1979 deal that made him the controlling owner of the team. His background in science and business informed a data-driven, long-term approach to team management, and he treated the Lakers as part of a broader entertainment empire that included concerts, boxing, and other events at The Forum. Buss's personal fortune, built through decades of disciplined investing in oil, real estate, and sports properties, allowed him to finance the $67.5 million purchase without relying on a single lender, though he did use a network of financial partners and credit lines to complete the transaction. His philosophy of viewing sports franchises as entertainment businesses rather than purely athletic operations helped reshape the NBA's economic model, and his influence is still visible in how modern owners approach franchise valuation, revenue sharing, and media rights. Buss's path from a working-class childhood to owning one of the most valuable sports franchises in the world is a central part of the story of how much Jerry Buss paid to buy the Lakers, and it underscores the scale of the financial commitment required to acquire a premier NBA team