A sweeping restructuring inside the Los Angeles Lakers organization has resulted in the termination of Joey and Jesse Buss, ending two decades of day-to-day Buss family involvement in basketball operations following the team’s controlling ownership sale to billionaire Mark Walter.
The brothers confirmed to ESPN’s Shams Charania on Thursday that they were fired, marking the most dramatic shift in Lakers leadership since Dr. Jerry Buss purchased the team in 1979.
“We are extremely honored to have been part of this organization for the last 20 seasons,” Joey and Jesse Buss said in a statement. “Thank you to Laker Nation for embracing our family every step of the way. We wish things could be different… At times like this, we wish we could ask our Dad what he would think about it all.”
Despite their termination, both brothers will retain minority ownership stakes in the franchise, according to Charania.
Jeanie Buss Remains as Governor, Scouting Staff Also Fired
While the Buss brothers were removed from operational roles, Jeanie Buss will continue as the Lakers’ primary governor, representing the organization at the NBA level. She will hold her position through at least the near future, as the franchise transitions under new ownership.
ESPN’s Dave McMenamin reported that multiple members of the scouting department were also dismissed as part of Walter’s restructuring. Joey and Jesse Buss had been central figures in talent evaluation and development, credited with uncovering standouts such as Austin Reaves, Kyle Kuzma, Jordan Clarkson, Larry Nance Jr., Ivica Zubac and Max Christie — players who have helped stabilize the franchise during roster turnover and cap limitations. Only Reaves remains with the team and is in line for a landmark deal for an undrafted player next summer.
Brothers Launch Sports Investment Firm After Lakers Exit
GettySiblings Joey and Jesse Buss (in black hat), from left, were kicked out of the Lakers front office.
The Buss brothers have recently announced the formation of Buss Sports Capital, a venture focused on strategic acquisitions in the global sports market. They insist the move will not conflict with their continued ownership stake in the Lakers.
“Our vision is to go after strategic investments and good partners — specifically sports-related investments,” Joey Buss told ESPN. “This is our first step toward where the future of sports is going to lead us.”
Buss Sports Capital has partnered with CAA Evolution, with EM Securities serving as its banking partner. Jesse Buss emphasized the partnership as a long-term legacy plan.
“I look forward to working with my brother for the next 50 years… That’s what our dad would have wanted.”
Mark Walter Seeking Lakers Turnaround After $10 Billion Sale
The sale of the controlling ownership stake at a $10 billion valuation was approved by the NBA Board of Governors last month. Walter, chairman and CEO of TWG Global, purchased a minority stake in 2021 and exercised his right of first refusal to acquire majority control.
Walter has already built the Los Angeles Dodgers into one of Major League Baseball’s premier dynasties since becoming controlling owner in 2012, overseeing multiple division titles, consistent postseason contention, and three World Series championships (2020, 2024 and 2025). With the NBA salary cap limiting Walter’s deep pocket to assemble a star-studded team like the Dodgers, it appears his strategy with the Lakers is to invest heavily in things which is not under the cap — infrastructure, analytics, and scouting to build long-term, sustainable success.
Walter’s sports portfolio also includes stakes in the Los Angeles Sparks, Chelsea FC, the Professional Women’s Hockey League, and multiple teams under TWG Motorsports, including Cadillac Formula 1.
With the firing of Joey and Jesse Buss, the Lakers’ new era has officially begun — with Jeanie Buss as a symbolic bridge to the past, and Walter aiming to engineer what he built across town: a Los Angeles dynasty.
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