LOS ANGELES (CBSLA.com) — The Lakers organization will stay in the Buss family in the wake of owner Jerry Buss’ death Monday.
At an afternoon news conference, Lakers spokesman John Black said, “Dr. Buss had set it up years in advance. He had planned for continuation… for the team to remain with the family.”
Black and Buss family spokesman Bob Steiner said the team is now held in a trust benefiting Buss’ six children— Johnny, Jim, Joey, Jesse, Jeanie, and Janie.
Although the Lakers will be owned by six people (not individually, however), the day-to-day operations will be handled by Jim and Jeanie.
Jim, along with general manager Mitch Kupchek, will handle the basketball side of the organization, while Jeanie will continue to run the business side of the Lakers and will represent the team at the NBA’s Board of Governors meetings.
Steiner said the Buss family wanted fans to know that their mourning won’t stop the Lakers from moving forward.
“The operation of the Lakers won’t come to a halt. It was Dr. Buss’ foresight. He planned for this day,” he said.
Dr. Buss died from an undisclosed form of cancer. He was 80 years old.