nba
[Amick] Per a team source, Buss’ agreement with Walter and the NBA stipulates that she’ll remain the team’s governor for at least the next five seasons.
![[Amick] Per a team source, Buss’ agreement with Walter and the NBA stipulates that she’ll remain the team’s governor for at least the next five seasons.](https://external-preview.redd.it/ePtboogLhkd-7MCDi5qsESJcGP1-WYsFQ42SaX1oMgQ.jpeg?auto=webp&s=c8af2d8328c08c2c4bb93b9b5d37454fe64d7fd1)
Let’s start with the Lakers, who were sold for a whopping $10 billion valuation to Dodgers owner/Lakers minority owner Mark Walters recently but will still be run by longtime owner Jeanie Buss for quite some time to come.
Per a team source, Buss’ agreement with Walter and the NBA stipulates that she’ll remain the team’s governor for at least the next five seasons.
Discussion
What do team governors do?
Mostly just act as the public face for the franchise.
Same shit Mark Cuban did when he sold.. Nothing 😂
Basically owner, except sometimes there are more than 1 owners. So who's in charge? The governor.
This is the case with the new Hornets ownership. The two co-owners are set up to alternate governing roles every (I think) 5 years
Or if the owner is incapacitated they act in their best interest (such as when Pat Bowlen had Alzheimer’s)
Governor is a euphemism for owner.
Obviously not in this case
They sign the bills that pass the teams legislative branches
When you hear "the owners approved ___ rule," or "the owners approved the sale of __ team to ___ ownership group," the team governors were the owners that voted. Basically the person from each team that makes ownership decisions when the league needs the teams to vote on something.
Exactly.
Jeanie Buss-Linda Rambis braintrust intact!
This basically means that she will just attend meetings and be the face at the draft, Walters don't play around with winning
also, why would the other family members agree to this? Like I get why she would want to remain in charge and get the money but if she was like "I want to stay in charge for 5 years" the buyers would be like ok then we are lowering our offer and I don't think the other Busses who Jeanie cut out would take less money just so she can save face.
Did you see the price tag? The other family members aren’t hurting for money. They’ll be just fine.
Billionaires are rarely billionaires because they're ok with "enough money," and that's arguably even more true for nepobabies.
The Buss family aren’t billionaires outside of their Lakers ownership I thought? This should be more cash than they’ve had ever
I think that's right, but I'm not totally sure I see the relevance. You're still a billionaire if your assets aren't liquid.
My point is they’ll have more cash than they’ve ever seen in their lives because most of their NW is in the Lakers. Having your NW on paper tied up in an illiquid investment like an NBA team is entirely different mentally than actually having that cash sitting in a bank account or a marketable security. They already were extremely well off obviously but even still this sale will be life changing in terms of their spending power.
Besides, being a governor is more a ceremonial role. I really doubt they’d get a materially offer price, or even a higher price at all, if they removed this provision
Right, they are not. But they will be because little sis pulled the trigger.
So yea, the family is good.
This is assuming Jeanie was playing hardball. It could be that they wanted Jeanie in charge for a few years as they learn the intricacies of ownership. Plus, she's not her father but her tenure hasn't been too bad. I can easily see Walters keeping her on as an asset.
Anyway, its all speculation, we have no idea why she was kept on and we'll likely never know. And its doubtful even if she did play hardball with them that they'd lower the price. A franchise like the Lakers don't just go on sale every year, they probably had the same price whether or not she wanted to stay.
She's just the face imo. She's not the sole decision maker and my guess is neither is Rob Pelinka, and if they are, you can bet it'll be a short leash with TWG controlling the finances. The Luka trade probably brought them a grace period to show they can successfully run the team, but they have to perform.
I legit wonder who is REALLY the owners of the team because TWG doesn't have the cash to purchase the team on its own because all of it is tied up in their other investments. So, my guess is that TWG is just an investment vechile for Mid East Oil money without the political headaches.
I dont think there is any secret.
https://thefinanceworld.com/mubadala-capital-eyes-sports-assets-with-10b-investment/
Mubadala Capital, backed by the sovereign wealth of Abu Dhabi, is setting its sights on investing in sports assets through a new multi-billion-dollar agreement with TWG Global. This deal will see the UAE asset manager lead and anchor a $10 billion syndicated investment in the US holding company.
If the Lakers strike out in free agency the next couple of years then she will be gone. I’m surprised they gave her 5 years, that doesn’t really make sense to me. I don’t have a grudge against her but selling the team was overdue.
Awesome…
She's just creating more material for her stupid basketball fiction show.
I don't mind it 🤷
Kurt Rambis has been involved in every Championship except 2-3 since he's been drafted in some shape or form 🤷
No, clearly the team only won the title in the years Kurt And Linda Rambis stepped aside!
Ah yes the head honcho of the late-00s wolves and a part of the Phil Jackson coaching tree (Basically the Pop coaching tree, except the opposite) should be a part of the decision making process. All 29 other teams just sighed in relief thank goodness 😮💨
I mean we get results 🤔
We are like the supermodel who is a hot mess 🤷
We've gotten more rings than any other team in that span. Whatever he does with the Lakers as long as we keep winning through the year, let him keep doing it.
Also enjoy purgatory with Bam & Herro.
Yes Kurt I know it was you and your family who got the job done with those 6 rings and NOT Shaq (Jerry West Signing) Kobe (Jerry West pick and trade transaction), Phil (Jerry West hire), Pau (Kupchak deal), and klutch sports (Magic Recruitment) who got those bamners in L.A
Keep on hatin’
Who cares it works 🤷
We win with him 😁
Just let it go ffs. Let it go so Lakers can move forward to much better structure.
This means nothing, she’s will just represent the team for league meetings, etc. something by all accounts she was great at, and was well respected by the other owners.
The new ownership group can do as they please with operations.
And small market teams do need her in those owner meetings. By all accounts she’s a staunch advocate for shared league revenue as much as possible. She understands the Lakers brand needs the whole league to remain the Lakers brand. I’m not sure what the new group advocates for but I’m loving the parity of the last few years.
PS. As an Angels fan I’m still salty that they gave Ohtani that ridiculous contract so as to stack the decks in the favour so I could be a bit biased. (happy Sho got his ring though)
Ridiculous contract? That guy will make that up in advertising revenue way before that contract is over
That’s my hope. I vaguely remember that the League not allowing the agreement clauses regarding Cuban being the governor of the Mavs after his sale. Hope the same thing happens for Jeanie.
The league said it was fine and they never asked, if I remember correctly. But if you look at the dodgers, they didn’t make big moves (GM, etc) for a few years. So I wouldn’t expect wholesale changes overnight
Which is the smart thing to do. Assess your org before making big purchases like the Suns (or The Mets first year if you follow baseball)
That is what I think too. Nobody will pay this amount of money for something to not have a final say.
Ya, the new ownership group by all accounts isn’t hands on and controlling, they hire competent people and create and plan and execute. Look at the dodgers, they are one of the best run and funded (all levels, scouts, minors, etc) in baseball.
What are they gonna do if they let her go? Undo the sale?
That’s not how this ownership group works, look what they did to the dodgers, they kept the old GM for years, then hired him as a assistant, who is still involved with the team today. Additionally, the ownership group, doesn’t make quick changes, they are slow and methodically when it comes investing money and resources.
Probably literally cannot let her go even if they want to.
She needs the money.
No. Never.
No please, let her cook
Do you have a lot of belief in the new ownership group? Things can easily go the way of the Bulls.
No idea - I really don’t like the current ones, so the bar is not that high.
But people who closely monitor the Dodgers adore the new ownership group.
So does that mean the team like the GM etc will also stay in place?
Yeah, being the governor is more or less just being a face for the franchise. She’ll act as a rep at league events, wouldn’t be surprised if she was at the lottery (if they are a lottery team during the next 5 years).
New ownership will most likely overhaul the entire front office. Pelinka and JJ are probably fine where they are. Although, if Pelinka gets a “promotion” to team President or as an advisor that’s when you’ll know that the ownership is fully taking over.
Isnt this what NBA didn't want with Dallas and Cuban
No, it's what Cuban lied about to try to save face after the disastrous Luka trade because he had promised, at the time of the sale to the Adelsons, that he would remain in control of basketball operations. Once Luka trade happened, he backtracked and said the NBA wouldn't let him put it in writing but he had never said that until that point and had led people to believe otherwise for over a year.
More like he tried to put in writing after the sale, that why Silver also stated that they didnt fulfill the necessary paperworks.
League probably wanted this sale because of how much it increases the value of the franchises so they made a concession to Buss to make sure it happens before expansion.
This makes zero sense since the Lakers are the best franchise in the NBA the last 30 years and it isn't even close.
Zero sense? Celtics sold for 6B, Lakers sold for 10B. They are better franchises but their value raises the value of all the other franchises as those are the valuations being used to measure against. You must not own a house if you don’t understand how this helps the league for the Lakers to sell for such a high valuation right before they issue two franchises for expansion.
Who do you think imparted that value? This is nothing like owning a house. The league doesn't want an owner who doesn't want to win cough trail blazer cough.
unless the previous owner tarnished the league’s image, I don’t think they want any teams to be sold. when more owners sell their team it diminishes the allure of owning an organization and no longer presents itself as an unattainable asset.
Why would that diminish the allure of owning a team? There are still only 30 teams, it’s a very exclusive club.
They don’t care about allure. They care about $ and more sales= more $
I mean this is the Lakers, they are the face of the league
I'm sure it's some ceremonial position where she shows up at league meetings and stuff like that. They won't let her make any actual decisions without corporate approval.
That’s pretty much the role of the governor, yes.
Governor is just the new PC term for owner now. She's not the Governor, she's just a mouthpiece
Governor is a specific title for the one person representing the entire ownership group to the league. Ya they changed the name from owner which while not being very player friendly, also wasn’t true since the team is owned by hundreds of people.
Yeah because at the height of BLM we naturally connected the owner of team to mean a slave owner. Which looking back is very silly
No, you weirdo. It’s because the NBA allows ownership GROUPS. So, there isn’t a single owner. Some teams have hundreds of owners. So calling one person the “owner” is completely inaccurate. It’s nothing to do with being PC or with police brutality, it’s because the term owner makes zero sense for a league with corporate ownership groups. Can you manage to comprehend this or is it just too complicated for you to process?
This means nothing. Just a figurehead. Decisions still come down to the majority owner, obviously
ITT: people who don’t realize “governor” isn’t the chief decision-maker
It's ceremonial. In the end, the owners can and will decide everything. Just like in any other situation.
This doesn’t mean she will control what the Lakers do, just that she will represent the team as the governor.
Lmaoo not poverty owner nepotism baby Jeanie Buss showing more business savvy than industry genius Mr Shark Tank Cuban
I don’t think there’s anything stopping Jeannie from being fired/bought out so this is meaningless.
But what's her incentive aside from part of the 10B of course
Time to call in Jefferson Steelflex and Alvin Yakitori
is this a good thing or a bad thing for the Lakers? also, Jeanie Buss staying means Linda Rambis also staying
I give it 1 season tops.
Win. Win win win win. Fuck everything else. Win win win win
She goin for the Dubai Supreme treatment
Only 5 more years LA. You can hold on.
I hope it will be ceremonial, and we are done with this Buss-Rambis-Pelinka shitshow
for now
I know people are talking about the Mavs but is anyone surprised the NBA would agree to a slow transition?
The Laker franchise is too important to the NBA to have screwed up by accident. Would imagine this helps prevent that happening.
Uh oh. The shadow owners are alive lol
Uhhhhhhh……………did she not see what happened with Mark Cuban?
All they have to do now is get rid of Pelinka
Lakers fans in shambles
Very confused with the reporting on this stuff, didn't Cuban try this and get shot down by the league? Or is the legalese different somewhere?
This is probably we screwed up so bad with the Mavs one, that we're going to allow it from now on.
this is a decent line of thinking probably
imagine a brand new owner does something disastrous with Luka, again
I don't understand how you can have someone in charge making spending decisions when it's not their money that they are spending. How does that even work? She gets to make the ultimate decisions and even if the owners disagree she controls? No business ever functions like this.
Explain what a CEO is..
Fuck
This means she is definitely giving LeBron a buyout. The new owners would never even consider it
Huh?
If you have to ask, then you don’t know
What would be the reason for the Lakers to buy out LeBron? Is he at same level as Lillard or Beal right now?
Five words: HE GONE!
I see that is what in your mind for the past 30 days.
Nah man, that ain’t me
I think the opposite actually
Oof
please don't
lakers fans 9/11
Isn't this the exact thing the NBA didn't want in writing for the Cuban sale?
Adam Silver afterwards said the NBA would have approved it for the Mavs if they had filed the paperwork
I think Cuban isn’t the business genius he leads himself on to be.
Mark Cuban right now
He got extremely lucky because of the Dot Com Bubble. I love what he did with the Mavs as a non fan, but he was in the right place at the right time.
He's literally the first to admit that. He has publicly said he wouldnt be a billionaire if he didnt get lucky.
Nobody would be a billionaire if they didn't get lucky.
Y’all love calling someone dumb like you would’ve made a better decision in the moment
What if Cuban wasn't telling the truth. Wolves had a weird-ass changeover and it got approved. Celtics sale had delayed changeover and it got approved. Lakers also apparently got approved.
You think a billionaire would do that... just lie for their own benefit?
We live in a society
Lie on the internet no less!
My day is ruined just thinking about it!
Mark Cuban technically never said anything about remaining the governor, he just said he would stay in charge of basketball decisions. Of course that was meaningless, because once he gave up being the governor, then he lost all control over basketball decisions.
So what if he was or wasn't. This is all about the Luka trade, which is impossible to attribute to anyone else than the current GM and majority owners because it's such a titanic blunder than literally noone else would do in their position
No, it's the thing cuban lied about the NBA not wanting.
It is literally happening with the Celtics and Lakers sales. cuban is just full of shit.
100% this. Cuban thought he could still control the team because the Adelson's don't know shit about basketball but they told him to fuck off and Cubes was too ashamed to admit he got played.
Yeah. He was just trying to save face and shift blame after the whole Luka trade.
Nah, Cuban is a business guy who 1000% understands getting things in writing when it comes to a transaction worth billions. He always planned on stepping back, but he wanted to save face for his personal brand.
Exactly. I’m sure his army of lawyers told him to get it in writing instead of relying on a handshake. He decided to take the Adelsons at their word instead.
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I doubt it. How would they force it?
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At this point I think Cuban just wanted out and tried to preserve his public image with the fans.
Does he still own 25% of the team? Governor has to own at least that amount. Buss family may be retaining a minority stake for X number of years.
The blame fell more on Cuban than the NBA thinking he could trust the new owners. The league can't stop it from being put in writing.
They approve every ownership sale. They can stop whatever they want.
More that they can’t stop Cuban from agreeing to something without getting it in writing.
Not really, Cuban didnt mention being the "governor " But having control of basketball which is impossible without some very specific agreements which the Lakers and Celtics previous owners learned clearly if those recents move are anything to go by
It seems like the Buss family still owns 15% of the Lakers while the new owner has 27%, meanwhile Cuban still owns over 25% of the Mavericks, he's still a *minority stakeholder
Mark Cuban was lying. Pretending the NBA stepped in and said that's not legal.
Dude lied about Brunson. He lied about the sale. He put on pair of jeans and a t shirt and Mavs fans lapped up anything he said for a long time.
Mr billionaire didn’t think he’d need to get something in writing is apparently the story
Or he tried and the NBA said that’s not allowed
So maybe things changed for this sale?
Not necessarily- team's governor needs to own at least 25% of the club. Maybe Walter is buying the team in stages, like how Arod and Lorre did in Min, so the Buss family is going to retain enough ownership over the next 5 years for her to remain in control by agreement.
If the Adelson's were buying more than 75% with their group, then Cuban may not have had the choice to force them to keep him on staff by sale agreement instead of as a minority owner who retained the governor position.
Cuban is probably lying, but also I could totally see Silver not caring about details once Buss said she was going to sell the team at a 10 billion dollar valuation.
It’s the lakers dude