Lakers’ $10 billion sale sparks major shake-up as Joey and Jesse Buss are fired

The National Basketball Association (NBA) Board of Governors recently  approved the sale of a majority stake in the Los Angeles Lakers to billionaire businessman Mark Walter, marking the largest franchise sale in professional sports history.

The monumental deal, valued at $10 billion, transfers controlling ownership from the Buss family, who have guided the Lakers for nearly five decades. With new leadership already reshaping the organization, the Lakers have begun reorganizing their basketball operations department, starting with the dismissal of front office executives Joey and Jesse Buss.

NBA insider Shams Charania broke the news on X (formerly Twitter) early Friday, November 21 (Philippine Standard Time), writing:

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“The Los Angeles Lakers are reorganizing their basketball operations department and terminating executives Joey and Jesse Buss from their respective front office positions, effective immediately, the brothers told ESPN.”

In a follow-up post, Charania added:

“Joey and Jesse Buss have had key Lakers scouting roles for the last decade, helping find players such as Austin Reaves, Kyle Kuzma, Jordan Clarkson, Larry Nance Jr. and Max Christie. The brothers will maintain their minority ownership shares within the Lakers.”

Statement from Joey and Jesse Buss: “We are extremely honored to have been part of this organization for the last 20 seasons. Thank you to Laker Nation for embracing our family every step of the way. We wish things could be different with the way our time ended with the team. At… https://t.co/2w3vjXWZ98

— Shams Charania (@ShamsCharania) November 20, 2025

Joey Buss previously served as the team’s alternate governor and vice president of research and development, while Jesse Buss held the role of assistant general manager.

In a joint statement, the brothers reflected on their departure:

“We are extremely honored to have been part of this organization for the last 20 seasons. Thank you to Laker Nation for embracing our family every step of the way. We wish things could be different with the way our time ended with the team. At times like this, we wish we could ask our Dad what he would think about it all.”

Jesse Buss added:

“Dr. Buss’ idea was for Joey and I to run basketball operations one day. But Jeanie has effectively kept herself in place with her siblings fired.”

Despite their removal from basketball operations, Joey and Jesse Buss will retain their minority ownership stakes in the franchise. Their sister, Jeanie Buss, remains the Lakers’ primary team governor.

The sale marks a historic moment for the NBA and the broader sports world. When Jerry Buss purchased the Lakers in 1979 from Jack Kent Cooke for $67.5 million—a deal that also included the Los Angeles Kings and the Forum—it set the stage for one of the most successful ownership eras in sports. Now, more than four decades later, the Lakers’ $10 billion valuation surpasses previous records, eclipsing the Washington Commanders’ $6.05 billion sale in 2023 and the Phoenix Suns’ $4 billion sale in 2022.

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