Who is Jerry Buss friend Frank?

Frank Mariani met Buss when they both worked at Douglas Aircraft in the late 1950s. They would go on to become real estate partners and investors together—Mariani still serves as CEO of the Lakers marketing division.

Did Jerry Buss almost lose the Lakers?

Since it’s safe to assume most people today have no recollection of World Team Tennis, you can assume what happened to Buss’s investment. The league folded in 1978, a year before his career-defining Lakers purchase, and after Buss lost between $4 million and $5 million.

Did Jerry Buss give the Lakers to his ex wife?

While it is true that the financial side of owning the Lakers took a toll on Jerry (as reports surfaced during 1985 that he was defaulting on loan payments), it is not true that his wife took ownership of the Los Angeles Lakers, however.

Who sold the Lakers to Jerry bus?

Buss acquired the Lakers from Jack Kent Cooke in 1979 in a complicated $67 million deal involving cash and land swaps that valued the team at $16 million, or $50 million today.

How did the Buss family get rich?

The majority of Jerry Buss’ net fortune came from his ownership of the Los Angeles Lakers basketball franchise. He was also the previous owner of the WNBA’s Los Angeles Sparks, the NHL’s Los Angeles Kings, and the NBA’s Los Angeles Lakers (soccer).

Who is Jeanie Buss dad?

Jerry BussJeanie Buss / Father

How did Jerry Buss get the money to buy the Lakers?

Saving money from his first job out of USC, in 1959, Buss recruited four other investors to purchase a 14-unit rental apartment in West Los Angeles for a $6,000 down payment and $100,000 loan from the bank. Eighteen years later, Buss turned this $6,000 down payment into a $350 million real estate empire. In 1979, Dr.

How did Jeanie Buss own the Lakers?

After her father died in 2013, his controlling ownership of the Lakers passed to his six children via a family trust, with each sibling receiving an equal vote. Buss took over as team president and as the Lakers representative on the NBA Board of Governors.

What happened to Jack Kent Cooke?

Jack Kent Cooke died from congestive heart failure in April 1997. He was 84. His final will stipulated that the bulk of his estate, which Forbes magazine estimated at the time to be worth about $800 million, be used to set up the foundation that now bears his name.

Who is the wealthiest NBA owner?

Steve Ballmer leads the way as the richest team owner for the seventh straight year, with a net worth of $96.5 billion, up $27.5 billion from a year ago.

How much did Buss sell the Kings for?

$10 million
The breakdown of the sale to the real estate magnate/PhD chemist Buss is quite hilarious in retrospect: $43.5 million US for the Forum, $14 million for the Lakers and $10 million for the Kings.