Tag:Jerry Buss
Posted on: February 15, 2011 4:09 pm
Edited on: February 15, 2011 10:29 pm

Lakers agree to $3 billion television deal

The Los Angeles Lakers have reportedly agreed to a 20-year, $3 billion television rights deal with Time Warner. Posted by Ben Golliver. kobe-bryant

Showtime just got paid in a major, major way. 

The Los Angeles Lakers have reportedly agreed to a 20-year television rights deal with Time Warner Cable, an agreement that will provide English and Spanish language broadcasts. Sports Business Journal has the details.
Time Warner Cable signed a 20-year rights deal with the Lakers that will lead to the creation of two new regional sports networks in the L.A. market next year. Time Warner Cable will fully own the two new RSNs -- one in English and one in Spanish. The RSNs will have the rights to pre-, regular- and postseason Lakers games starting with the '12-13 season. Fox, which already operates FS West and Prime Ticket in L.A., had been negotiating to keep the Lakers’ rights on FS West, and sources familiar with the Lakers' proposal to Fox indicated that the team was looking for a $3B, 20-year deal, which averages out to $150M per year.

It doesn't take a trained media business analyst to realize that this is as an exceptional deal for the Lakers. 

What they sacrifice in future negotiating flexibility by locking themselves up for the next two decades they more than make up for in financial security and pure cash. Sports Business Journal notes that the reported $150 million dollars per year figure is roughly five times more than the $30 million per year the team generates in its current deal.  

I think that's called "selling high" in just about any industry. With a potential run at a three-peat this season, Kobe Bryant entering the last 1/3 of his career and a new coach likely taking over next season, now was the ideal time to sell, while LA remains at the top of its fame and game.

By comparison, the small-market Portland Trail Blazers signed a 10-year, $120 million contract with Comcast in 2007. The Lakers are set to make more money in one season from their new agreement than they Blazers will have netted in a decade.

As Sports By Brooks noted this morning, this deal also ensures the Buss family can continue to operate the Lakers profitably throughout the duration of the dail, even if current owner Jerry Buss should pass away. A little peace of mind on top of a giant pile of cash is worth its weight in gold.

Update (9:47 PM): In an email Tuesday night, Time Warner Cable disputed the reported $3 billion figure, a number referenced by the Los Angeles Times, Sports By Brooks, and the Sports Business Journal, but said they would not discuss the terms of the agreement.

Posted on: January 20, 2011 7:14 pm
Edited on: January 20, 2011 9:05 pm

Lakers exec Jeanie Buss floats NBA contraction

Los Angeles Lakers executive vice president for business affairs Jeanie Buss says the NBA should consider contraction. Posted by Ben Golliver.jeannie-buss

Good news, LeBron James: Phil Jackson's significant other totally co-signs your thoughts on contraction!

In a feature piece posted on the Wall Street Journal's website , Los Angeles Lakers executive vice president for business affairs Jeanie Buss said that she believes the NBA may need to consider contracting franchises, focusing on those that are struggling financially.
As a result, Ms. Buss even mentioned in an interview with the Journal that the NBA should consider getting smaller by folding some of its weaker franchises in poorly performing markets.
“I would hate to see us lose teams, but I think contraction is something we have to consider,” Ms. Buss said. “We may be in some markets we shouldn’t be in.”

In a sign of what Ms. Buss will be in for over the coming months, an official with the the NBA’s players union seized on her statements and said the issue of contraction was “clearly dividing the owners.”

“If the owners are not on the same page it will make it that much more difficult to get a collective bargaining agreement,” the official said.
Jackson made somewhat similar headlines in December when he said he wasn't happy about the NBA stepping in to purchase the struggling New Orleans Hornets. Jackson's comments were more directed at relocating the Hornets rather than folding them, though, so Buss goes further here.

Miami Heat forward LeBron James, of course, caused a national media tidal wave in December when he said the NBA should consider eliminating some teams so that it could get back to the league's glory days of the 1980s.

It's understandable that an executive from a large-market, highly-profitable, luxury-tax paying team would view contraction as a step in their best interest and in the best interest of the league. It is somewhat surprising, though, that these comments would be made publicly, as team executives are usually loathe to comment on hot-button CBA topics for fear of fines from commissioner David Stern's office, and many view negotiating in public as detrimental to the overall cause.

What's even more interesting is that Lakers owner Jerry Buss, Jeanie's father, said in November that he would support increased revenue sharing, a policy that would obviously make things easier financially for small-market teams and, by extension, make contraction less likely. 

Where does this leave us? Well, it's the first public internal fissure in ownership's position, as small-market owners league-wide obviously cannot support these comments. The Players' Association made a thorough effort to bring James back into the fold after his contraction statements; it will be intriguing to watch how the league office and the NBA's other owners respond to Buss's declaration.
Posted on: November 1, 2010 9:17 am
Edited on: August 14, 2011 8:21 pm

Lakers owner supports increased revenue sharing

Jerry Buss, the owner of the Los Angeles Lakers, says through a spokesman that he supports increased revenue sharing in the NBA. Posted by Ben Golliverjerry-buss  Whenever the issue of contraction in the NBA was raised during the last few weeks, one couldn't help but wonder whether it was a case of rich owners publicly bullying poor owners.  It's no secret that the league's franchises enjoy vastly different levels of success and that their interests might not be in total alignment during ongoing labor negotiations with the players' union. By floating the idea of contraction, perhaps, the league or some of its owners might be reminding struggling franchises that it's a privilege, not a right, to participate in, and profit from, the collective. Another hot topic along rich owner / poor owner lines is revenue sharing, whereby the team's most successful financial teams (usually those in the largest markets with the sweetest TV deals) help subsidize less successful teams in the name of the competitive good and league-wide stability. NBA commissioner David Stern has acknowledged that the amount of revenue sharing among NBA owners will increase after the next round of collective bargaining, to narrow the gap between teams that play in front of packed houses with movie stars sitting courtside and those playing in half-empty stadiums. While you might expect the large-market owners to protect their financial interests by toeing a stern line against increased revenue sharing -- or at the very least remain quiet about the issue in public -- Kevin Ding of the Orange County Register writes that Jerry Buss, owner of the Los Angeles Lakers has publicly voiced support for increased revenue sharing in the NBA's next collective bargaining agreement.
So how much are the Lakers going to fight that revenue sharing? "Not only are we not going to fight it, we'll support it," Lakers spokesman John Black said Sunday night, "due to the benevolence of our owner, who is willing to sacrifice for the overall good of our league." There you have it: The Lakers, the league's royalty whose purple and gold robes already make everyone in the NBA some nice coin, are on-the-record on board with giving up a lot more. At a time when there's almost no good news coming out about how the NBA could avoid a lockout after this season, that's a definite something.
Is it just me, or does an alarm bell go off anytime you hear the word "benevolence" used to describe someone with power? The guy is an NBA owner, not a third-world dictator. He's willing to share a few extra of his millions with other millionaires, I'm not sure that qualifies, exactly, as benevolence. But this statement does qualify as a meaningful step in the public discussion. Even if Buss is trying to get in front of potential criticism, his willingness to address the issue is a positive sign. And Ding makes a smart point: the Lakers, as a financially successful team and one that is in the midst of a potential dynasty as the end of Kobe Bryant's career approaches, have arguably the most to lose on both the balance sheet and the court if there is a lockout. Here's hoping Buss, whose Lakers have stood as a model franchise for decades, means what he says, and that other NBA owners appreciate his message and follow his lead.
Posted on: October 18, 2010 3:58 pm
Edited on: August 14, 2011 7:54 pm

Magic Johnson sells Lakers stake

Los Angeles Lakers legend Magic Johnson has sold his ownership stake in the franchise to a billionaire doctor.
Posted by Ben Golliver

The Los Angeles Lakers have announced today that franchise legend Magic Johnson, who helped guide the Showtime dynasty, has sold his ownership stake in the team. Take it away, press release.
Los Angeles Lakers legend and part-owner Earvin “Magic” Johnson has sold his share of the team to Dr. Patrick Soon-Shiong, it was announced today. The transaction price of Johnson’s share of the team is undisclosed.
Lakers majority owner Dr. Jerry Buss had this comment on the transaction: “The sale of Earvin’s share of the team is a business decision which will not change our relationship. Our friendship goes well beyond business. Patrick is a long-time and passionate Lakers fan and we are delighted to have him as a partner.”
The move ends ten years of ownership for Johnson, who has served the Lakers as a player, coach and minority owner during his more than three decades of affiliation with the organization. While Dr. Soon-Shiong, the billionaire founder of the cancer-fighting company Abraxis BioScience , isn't a household name like Johnson, he's not without his own degree of fame and notoriety. This Forbes profile from 2003 paints an interesting picture.
Dr. Patrick Soon-Shiong has been called ruthless and a headline-grabber. As a scientist he has been criticized for hyping his research results; as a drugmaker he has been accused of ripping off investors. Short-sellers have boldly bet against him, risking huge losses. Even his own brother, an early backer, sued him for fraud and fired him--twice--from the company they started. Their skirmishing lasted two years and destroyed their relationship. 
Yet Soon-Shiong, chairman and controlling shareholder of publicly held American Pharmaceutical Partners, endured the blows and has been largely exonerated--in the meantime, rising to billionaire status. Credit his immovable faith in the promise of an experimental cancer treatment dubbed Abraxane.   
He was ranked No. 87 of Forbes's 2009 list of the world's billionaires and his Wikipedia page is pretty mind-blowing.
Posted on: August 18, 2010 9:04 am

Shootaround 8.18.10: Louuuu!

Pierce wants help, Wall won't get that many buckets, and the Suns have the pick but no roll in today's edition of the shootaround. Posted by Matt Moore

Paul Pierce says the Celtics need one more piece , specifically a wing to come in and relieve him. He doesn't sound thrilled with the team losing Tony Allen, specifically. How they'll fill that hole is an entirely different question, if at all. Allen played a pretty specific role (and honestly didn't play it all that well prior to the second half of last season). Furthermore, Pierce's statement serves as a significant knock agasint Marquis Daniels, who's supposed to particularly be just that for that for the Celtics.

The Warriors, Hornets, and Pacers are in pursuit of Lou Amundson, the Phoenix big man who found the team didn't have room for him after their replacement moves this summer. The Warriors are the easy option, a nice market and a fun way to play. But it also provides the least chance to win. The Pacers are likely to be a fun team, full of speed and versatility (much like the Suns last season), but it's not clear if Amundson (28) wants to be the veteran presence on a team. That leaves the Hornets, who will play a much slower pace than he's used to most likely. The fact is that the best situation for Amundson was Phoenix, who really did need him. But hey, when Hakim Warrick comes available...

John Wall is a near-lock to lead all rookies in assists next year. But how's his scoring going to be? Bullets Forever takes a look at the issue and finds that Wall's top three options are heavy-usage players that don't necessarily score a lot off of assists. So not only will Wall's scoring be lower than expected, but similarly his point totals may not wow the eye either. There's a solution, here, ditching Gilbert Arenas for cheap fluff, but no one wants to hear that option in Washington (or they believe that no one will take Arenas period).

A perfect example of what advanced metrics can do? A block is a block right? Except some blocks have more value than others , and the number of blocks you make impact the overall value of all of your blocks. So a block is not just a block.

Kendrick Perkins is targeting February for a return . Which is awkward, because that means if the Celtics find themselves surprised by a lack of center depth (despite Jermaine O'Neal and Shaquille O'Neal), they're not going to have much time to make that assessment if they need to make a trade.

The NCAA president wants to see baseball-like rules for the NBA's draft guidelines. This would mean players can go to the NBA straight out of high school, but if they elect to go to college, they must stay for three years or until they're 21. An interesting idea, but as John Krolik points out , one fraught with complications. An additional question is where the NBA D-League would play in this process, and if it would help bridge the gap. Either way, it's unlikely for this option to be adopted, given the economic realities.

Jerry Buss isn't lacking for confidence when it comes to the Lakers' chances against the Heat. The list of people actually admitting fear or even legitimate respect for the Heat is pretty small, for some reason.

The pick-and-roll has been the cornerstone of the Suns' offense for years. And yet looking at their options , the Suns may be looking at a lot more pick-and-pops than rolls. Robin Lopez may be their only hope.

Posted on: August 14, 2010 2:16 pm

Tears flow at 2010 Hall of Fame induction

"" Posted by Royce Young

For whatever reason, Hall of Fame induction ceremonies tend to get a little dusty. When all-time greats have their moment in front peers, friends and family to speak about teammates, coaches and the game itself that meant so much to their life, the emotions come out. And though it can be awkward to see a man of Karl Malone's size and strength shed tears, seeing that emotion on display is sometimes what makes these induction ceremonies so great.

Eight people and two teams were inducted into the James Naismith Basketball Hall of Fame Friday night in Springfield, Mass. Karl Malone, Cynthia Cooper, Jerry Buss, Scottie Pippen , Gus Johnson, Dennis Johnson, Bob Hurley, Maciel "Ubiratan " Pereira , the 1960 Olympic team and the 1992 Dream Team were all honored with basketball's highest honor.

Pippen was the first to have his moment and he spoke at length about what teammate Michael Jordan meant to him, but also about what it was like playing for all-time great coach Phil Jackson. Pippen was inducted by Jordan and as anyone would expect, Pippen played his role perfectly even in the spotlight of the Hall of Fame and deferred to teammates and coaches, finishing by saying, "It has been a great ride," and then pausing for a moment, his head bowed while everyone waiting in silence. "For all this I say thank God, and thank you."

Malone was in tears from the moment he took the stage , using a handkerchief from his tuxedo to wipe his eyes. He spoke at length about his other loves, including hunting and what it meant to be raised in the country in Louisiana. He also talked about playing with John Stockton and under Jerry Sloan, two Hall of Famers who were inducted last year. He was extremely appreciative of former Jazz owner Larry Miller, and the organization itself as well. The Mailman was humble, appreciative and said, "I hope I did it the way my peers did it before me. I didn't do anything but try to play hard. I didn't have a motive, it wasn't about me. It never was about me and it's not about me tonight. It's about a lot of other people."

Both Dennis and Gus Johnson were inducted posthumously by family members. Cynthia Cooper, a four-time champion with the Houston Comets, gave a speech that was quietly fantastic as she talked about her desire to play in front of friends and family while also mentioning her deceased mother who she said was watching in heaven. "And it's in HD . That's how God does it."

Bob Hurley, the head coach at St. Anthony's High School in Jersey City, N.J. for the past 38 years, was inducted as only the third high school coach to the Hall.

Laker owner Jerry Buss talked about how he never dreamed of being a Hall of Famer and for good reason. He said when these other people were 21 years old, this was the ultimate dream for them. But it was something never in his wildest. He finished by saying, "I added a little Spanish by getting a future Hall of Famer , and voila, another two championships. Life is good. Life is sweet."

Pereira , a deceased three-time Olympian from Brazil and World Championship gold medal winner in 1963, was presented into the Hall by current NBA Brazilians Anderson Varejao and Leandro Barbosa in a videotaped tribute.

Then of course the two Olympic teams. Jerry West, one of the stars of the 1960 team, spoke about the greatest thrill in his life was accepting his gold and standing on the top wrung of the podium next to Oscar Robertson as the Star Spangled Banner blared. Magic Johnson spoke mostly for the Dream Team and went down the line recounting a memory about each player. He mention about how he'll never forget what a young Michael Jordan said to him and Larry Bird. "Larry and Magic, you had your run. But there's a new sheriff in town."

The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com