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[Saba Sports News] Across the NBA, there’s growing doubt that the Lakers can compete financially with newer investors. Insider Eric Pincus reports concerns about the team’s ownership group keeping pace with the latest wave of wealthy owners.
“The Lakers might not have had the offer-he-can’t-refuse budget to hire the leader they so desperately needed in [Dan] Hurley,” Pincus wrote via Bleacher Report. “Many around the league wonder if the Lakers’ primary ownership group can keep up with the new billionaires investing in NBA franchises. The old-school Dr. Buss way of running a team was unparalleled in championship success, but the 2024 Lakers still don’t have a coach, and frugality got in the way.” The Lakers missed out on UConn coach Dan Hurley partly due to their mediocre contract offer. Despite offering $70 million over three years, it wasn’t enough to lure him from college, raising eyebrows across the league.
Jeanie Buss, 62, inherited her role as governor of the Lakers from her father and has been the majority owner since 2013. She’s worth $700 million and shares the family’s 66% stake with her brothers. While successful, her wealth pales compared to other NBA owners.
Mat Ishbia, who bought the Suns for a record $4 billion, is worth over $8 billion and has aggressively recruited top talent. Clippers owner Steve Ballmer, with a net worth of $125 billion, has spent billions to reshape the Clippers, including building the new “Intuit Dome” arena set to debut next season.
Compared to the Clippers, Suns, and other teams, the Lakers are at a financial disadvantage. This unexpected position threatens their standing and power in the Western Conference if they don’t catch up soon.