Joey and Jesse Buss are officially back in the sports ownership game, and their first major move after selling off their majority stake in the Lakers? Joining the San Diego Padres’ ownership group. These brothers wasted no time getting back into the action, making the announcement on Wednesday after creating Buss Sports Capital specifically to get back into the ownership game.
From Purple & Gold to Brown & Gold: A New Era For the Buss Empire
Can you believe these guys? After offloading their majority stake in the Lakers to Mark Walter last year, Joey and Jesse Buss launched Buss Sports Capital with one goal: returning to ownership. And now, thanks to Dave McMenamin over at ESPN, we know the details: they’re diving headfirst into baseball with the Padres. They’ve snagged about a 5% stake, which, hey, is a significant chunk for a first move! But it’s not just about the money; these guys are going to be on the new ownership group’s advisory board. Think about that experience. We’re talking about the deep knowledge of player development, payroll management, and roster construction that they bring to the table. This isn’t just an investment, it’s a strategic play for the Padres, plugging in some serious sports expertise right into the decision-making.
Why San Diego’s Got Something Special
Joey Buss dropped a statement to ESPN, and it’s clear this isn’t just a business decision; it’s personal. He said they’re “honored to join Kwanza and José” and have a chance to contribute to a team he and Jesse “loved since we were kids growing up in San Diego.” Seriously, how cool is that? You gotta respect that kind of hometown passion. Joey emphasized that sports have always been part of their family’s story, and that great organizations truly bring people together and create a lasting sense of community. He’s not wrong about Padres fans, either, calling them “one of the most passionate and loyal communities in all of sports.” The Buss brothers clearly believe there’s a “tremendous opportunity to deepen that connection” both in San Diego and globally. Joey even declared that the “Padres are on the cusp of something special,” and they’re ready to bring their “experience and perspective” to build on that strong foundation.
This whole move isn’t tied to any other minority stake sales the brothers are trying to complete, though you know they’d love more cash to throw into this venture. It’s their first big business splash for Buss Sports Capital, but don’t think they’re done. Sources told ESPN they’re still chasing an ownership stake in the rumored NBA Europe league. Honestly, that league still feels like it might just be a pipe dream, even with Commissioner Adam Silver pushing it hard. But for now, the Buss brothers are all in on the Padres, and that’s a huge shot of energy for baseball in San Diego.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by Silver Screen and Roll.
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