""Our vision is to really go after strategic investments and good partners -- specifically sports-related investments," Joey Buss told ESPN. "Buss Sports Capital is not going to compete with our interests in the Lakers or the NBA. This is our first step to where the future of sports is going to lead us. It is exciting to see what growth opportunities exist -- particularly opportunities that we can add value to, given our skill sets.""
"Both brothers will remain with the Lakers after the sale is finalized, with their older sister, Jeanie Buss, continuing to serve as the primary team governor for the foreseeable future, sources said. In June, the Buss family agreed to sell their controlling stake of the team at a $10 billion franchise valuation to Mark Walter, the Los Angeles Dodgers owner and CEO and chairman of CWG Global. The sale is expected to be ratified by the NBA's board of governors in the coming months, sources told ESPN."
Joey and Jesse Buss launched Buss Sports Capital, an investment firm to identify acquisitions and partnerships across global sports. Joey is the Lakers' alternate governor and VP of R&D; Jesse is the assistant general manager. The brothers worked in various roles within the Lakers organization. In June the Buss family agreed to sell their controlling stake at a $10 billion franchise valuation to Mark Walter of CWG Global. The sale is expected to be ratified by the NBA's board of governors in the coming months. Both brothers will remain with the Lakers, and Jeanie Buss will continue as primary team governor. Buss Sports Capital partnered with CAA Evolution and EM Securities.
Read at ESPN.com
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