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Joey Buss and Jesse Buss are no longer working in the Los Angeles Lakers' front office after the franchise's recent ownership change, a person with knowledge of the move told The Associated Press on Thursday.
The Los Angeles Lakers are reorganizing their basketball operations department and have fired executives Joey and Jesse Buss from their respective front office positions, effective immediately, the brothers told ESPN's Shams Charania on Thursday.
The Buss family have agreed to sell a majority stake in the Los Angeles Lakers to TWG Global CEO Mark Walter, the two parties confirmed on Wednesday, while adding that Jeanie Buss will remain governor of the storied NBA franchise.
Businessman Mark Walter's acquisition of the majority ownership stake of the Los Angeles Lakers, in a deal that puts the franchise valuation at $10 billion, is expected to close in the third or fourth quarter of this year.
After nearly half a century shaping one of the NBA's most well-known franchises, the Buss family is stepping down as majority owners of the Los Angeles Lakers, marking the end of an era that fused sporting dominance with Hollywood spectacle.
The Buss family, architects of 11 NBA championships, is poised to relinquish their four-decade reign over the LA Lakers, with ESPN reporting they are entering an agreement to sell a majority stake in basketball's most glamorous franchise.
The Buss family is entering into an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter for a franchise valuation of approximately $10 billion, sources told ESPN on Wednesday, the most ever for a U.S. professional sports franchise.
Los Angeles :The Buss family is entering an agreement to sell a majority stake in the Los Angeles Lakers, ESPN reported on Wednesday, marking the end of an era for one of the NBA's most influential owners.