Joey Buss and Jesse Buss are creating an investment firm called Buss Sports Capital aimed at acquisitions and partnerships across the global sports landscape. Joey and Jesse are the two youngest children of the late Dr. Jerry Buss.
The Los Angeles Lakers are being sold by the Buss family to Mark Walter at a $10 billion valuation.
Joey Buss is the Lakers' alternate governor and vice president of research and development. Jesse Buss is the Lakers' assistant general manager. Both brothers will remain with the Lakers after the sale is finalized while Jeanie Buss will serve as primary team governor for the foreseeable future.
"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 towards 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."
"I look forward to working with my brother, Joey, for the next 50 years and hopefully this is something that can live through our children," Jesse Buss told ESPN. "That's what our dad would have wanted."
CAA Evolution will lead the transaction process and EM Securities will be the banking partner.
