Lakers News: Buss Family Intends to Keep Ownership of Lakers

Jim Buss taking overThe entire sports world was saddened by the death of Los Angeles Lakers owner Dr. Jerry Buss Monday morning. Buss changed the way sports franchises are operated and his success with the Lakers is unparalleled thanks to his 10 championships and 16 NBA Finals appearances.

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Jerry Buss will leave his stake in the Lakers behind to his children, and despite worries from fans about the family losing ownership, it seems as though there is no intention from the Buss family to sell the team. As reported by ESPN.com, Lakers team spokesmen John Black said the Lakers will remain unchanged despite Buss’ death. The six children want to keep the Lakers under the Buss name and will not be putting the team on the market.

“The future of the organization will remain unchanged,” Lakers spokesman John Black said Monday. “Dr. Buss set it up years in advance — he planned for the team to remain with the family.

“The family has no interest in ever selling the team,” Black said. “The six of them agreed unanimously to keep the team in the family for generations to come.”

Jerry Buss’ ownership of the Lakers is currently “owned by a trust for the benefit of the six children” which will be managed by Jeanie, Johnny and Jim Buss.

The Lakers will play their first game after Buss’ passing on Wednesday, and fittingly, it will be against their arch rivals the Boston Celtics. A new era of Lakers basketball will begin very shortly and everyone is hoping the new Buss management can continue to win championships in Los Angeles.

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