Nearly a month after the Los Angeles Lakers were sold by the Buss Family to Los Angeles Dodgers owner Mark Walter for a whopping $10 billion, the family payouts reportedly have been revealed.
During Wednesday’s episode of The Hoop Collective (1:03:07 mark), ESPN’s Brian Windhorst reported that longtime Lakers Governor Jeanie Buss and her siblings each received a substantial payday for selling their majority stake in the franchise.
“Regardless of the $10 billion figure, I heard that each Buss child, when everything was factored in, the check that they got was $900-something million. That’s what I heard,” Windhorst said.
The $10 billion sale broke the previous record set by Bill Chisholm’s $6.1 billion purchase of the Boston Celtics in July, so it’s no surprise that Jeanie and her siblings are cashing in.
Walter was unanimously approved as the new majority owner of the Lakers by the NBA Board of Governors on Oct. 30. The billionaire businessman also owns the Los Angeles Sparks and is a part-owner of Chelsea F.C. of the English Premier League.
The Buss Family retained a minority stake in the franchise, with Jeanie Buss maintaining her role as the head of day-to-day operations for at least the next five years.
The Lakers (13-4) earned their fifth straight win by defeating the Los Angeles Clippers 135-118 on Tuesday night and will return to action on Friday against the Dallas Mavericks (5-14).