Dr. Jerry Bass and his family turned what was a substantial investment in 1979 into incredible profits with the 2025 sale of La Lakers.
The Los Angeles Lakers made history this week despite not making their second play in NBA basketball. On June 18th, Johnny Bus and her family sold the Lakers to Mark Walter for $10 billion.
The sale set a new record for the best selling prices for any sports team, shattering the $6.1 billion price that the Boston Celtics sold a few months ago.
The Lakers legendary Magic Johnson shared his excitement about the new ownership, particularly due to his own business relationship with Walter as part of the LA Dodgers ownership group.
Even Lakers superstars LeBron James and Luka Donsic are optimistic about the Lakers’ future. But perhaps no one will be as happy as Jeannie and Bass’ family.
Forty-six years after his father, the late Dr. Jerry Bass, bought the team, his children sold the team for great profits, yet still maintaining a large share of the side.
In 1979, Dr. Jerry Bass decided to turn successful investments in Los Angeles real estate into a long-term venture into sports.
Bus purchased California Sports Inc. in 1979 for $67.5 million.
As part of the sale, Buss acquired the Los Angeles Lakers, the NHL Teamlakings, the Forum (the then Lakers home, now Kia Forum) and the Cook Ranch, a precious property in Jack Kent.
Given the inflation in today’s economy, Dr. Bass spent just under $299 million to buy the team. Below is a breakdown of the entire transaction and the amount adjusted for inflation against today’s economy.
- California Sports Inc. – $67.5 million ($298.8 million)
- Forum – $33.5 million ($148.3 million)
- Los Angeles Lakers – $16 million ($70.8 million)
- Kings – $8 million ($35.4 million)
- Cook’s Ranch – $10 million ($44.2 million)
Taking his first amount, adjusting it to an inflation curve, and after 46 years of ownership, Bass’ family made a profit of $9.7 billion, selling the team for 33.4 times the original investment by his father.
With all the bluester and bravado that comes with big sales, Lakers fans are only interested in one thing: their impact on success.
The Lakers are one of the most historic franchises in NBA history, winning 17 championships. The team demands success and a superstar carousel.
Mark Walter’s biggest priority as owner is to impress Luka Donsic. He appears to be off to a good start as Don Sic appears to have confirmed his commitment to the Lakers on social media.
Walter must emphasize to Lakers president Rob Perinka the importance of building the Lakers around Donsic. While some fans may be worried, Walter’s track record supports his case.
Walter’s stint as the owner of the MLB franchise has been extremely successful. The Dodgers succeeded before Walter’s purchase, but he invested money and resources to improve his team.
The Lakers have a brutal reputation for investment and infrastructure. In his history as the owner, Walter is the perfect man to stabilize the ship.