The historic sale of the Los Angeles Lakers at a $10 billion valuation stunned the sports world, but inside the Buss family, it did not land as a unanimous triumph. According to an explosive ESPN report by Baxter Holmes, two family members believed the franchise may have been sold short.
Joey and Jesse Buss, the younger half-brothers of controlling owner Jeanie Buss, believed the Lakers were worth closer to $12 billion or potentially even more if the majority stake had been taken to the open market.
“In their meetings, people with knowledge of the events said, the two brothers also asked why, if money was so important, the family wouldn’t try to sell its majority stake on the open market? Was this the highest offer they could get? Joey and Jesse believed that a majority stake in the Lakers could fetch a valuation as high as $12 billion or perhaps even more, those sources said.”
“In response, they were told that Walter’s formal offer would be put to a vote. Had the majority stake gone on the open market, perhaps the two brothers could’ve found financial partners, raised money and, in some fashion, been part of the group to buy it, people with knowledge of their thinking say.”
“Now, they wouldn’t have a chance.”
The speed of the process only added to their frustration. The siblings were given roughly 72 hours to vote on the sale. With Jeanie already on board, the outcome felt predetermined. Even though the final vote was unanimous, sources close to the family describe that unity as cosmetic rather than genuine. The younger brothers believed the decision had already been made behind closed doors.
From Jeanie’s perspective, the calculus was different. The NBA ownership landscape has changed dramatically since her father Jerry Buss bought the team in 1979. Billionaire owners now dominate the league, and while the salary cap limits spending on players, deep pockets still matter when it comes to infrastructure, staffing, analytics, and long-term investment. Jeanie reportedly felt that partnering with Walter was the safest way to ensure competitiveness and stability going forward.
Still, the disagreement underscores a deeper fracture within the Buss family. For Joey and Jesse, the sale was not just about money. It was about legacy and the belief that their father intended the Lakers to remain a family-run franchise for generations. The idea that the team might have commanded billions more only sharpened the sense of loss.
In the end, the Lakers became the most expensive franchise sale in sports history. Yet for some inside the family, the lingering question remains whether history could have been even longer.
