Unveiling The Lakers Legacy: Pre-Buss Ownership Secrets Revealed

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The Los Angeles Lakers are one of the most successful basketball teams in NBA history, with 17 championships. Before Jerry Buss purchased the team in 1979, the Lakers were owned by a group of investors led by Jack Kent Cooke.

Cooke was a Canadian-born businessman who made his fortune in the broadcasting industry. He purchased the Lakers in 1965 and moved the team from Minneapolis to Los Angeles. Under Cooke's ownership, the Lakers won five NBA championships, including three in a row from 1971 to 1973. However, Cooke was a controversial figure, and he sold the team to Buss in 1979 after a series of legal and financial problems.

Buss was a real estate developer who had no prior experience owning a sports team. However, he quickly turned the Lakers into one of the most successful franchises in the NBA. Under Buss's ownership, the Lakers won 10 NBA championships, including five in a row from 2000 to 2002. Buss was also responsible for creating the Lakers' Showtime era, which was one of the most dominant periods in NBA history.

Who Owned the Lakers Before Jerry Buss

Before Jerry Buss purchased the Los Angeles Lakers in 1979, the team was owned by a group of investors led by Jack Kent Cooke. Cooke was a Canadian-born businessman who made his fortune in the broadcasting industry. He purchased the Lakers in 1965 and moved the team from Minneapolis to Los Angeles.

  • Ownership group: Cooke was the majority owner of the Lakers, but he was not the only owner. He was part of a group of investors that also included former Lakers player Elgin Baylor.
  • Financial problems: Cooke's ownership of the Lakers was marked by financial problems. He was forced to sell the team to Buss in 1979 after defaulting on a loan.
  • Showtime era: Buss was responsible for creating the Lakers' Showtime era, which was one of the most dominant periods in NBA history. The Lakers won five NBA championships in a row from 2000 to 2002 during this time.
  • Legacy: Cooke's legacy as the owner of the Lakers is mixed. He was responsible for moving the team to Los Angeles, but he also presided over a period of financial instability. Buss, on the other hand, is widely considered to be one of the most successful owners in NBA history.

The Lakers have been one of the most successful teams in the NBA since Buss purchased the team in 1979. They have won 10 NBA championships during that time, including five in a row from 2000 to 2002. Buss was a key figure in the Lakers' success, and he is widely credited with creating the team's Showtime era.

Ownership group

The ownership group that Cooke assembled was a key factor in the Lakers' success during the 1970s. Baylor was a former Lakers player who was inducted into the Naismith Memorial Basketball Hall of Fame in 1977. He was a key member of the Lakers' 1972 NBA championship team. Baylor's involvement in the ownership group gave the Lakers a strong basketball mind in the front office.

The other investors in the group were also successful businessmen. Cooke was a wealthy broadcaster, and the other investors included real estate developers and oil executives. This group of investors provided the Lakers with the financial stability that they needed to compete for championships.

The ownership group that Cooke assembled was a key component of the Lakers' success before Jerry Buss purchased the team in 1979. The group provided the Lakers with financial stability and basketball expertise. This allowed the Lakers to compete for championships and build a foundation for future success.

Financial problems

Jack Kent Cooke's financial problems were a major factor in his decision to sell the Lakers to Jerry Buss in 1979. Cooke had purchased the Lakers in 1965 for $5 million, but by the late 1970s, the team was struggling financially. Cooke had borrowed heavily to finance the Lakers' move to Los Angeles in 1960, and he was also facing legal problems related to his ownership of the team.

In 1979, Cooke defaulted on a loan from the Bank of America. The bank threatened to foreclose on the Lakers, and Cooke was forced to sell the team to Buss in order to avoid losing the team altogether. Buss purchased the Lakers for $6.5 million, and he quickly turned the team's financial situation around. Buss was a successful real estate developer, and he used his business acumen to make the Lakers one of the most profitable teams in the NBA.

Cooke's financial problems are a cautionary tale for any sports team owner. It is important to have a sound financial plan in place before purchasing a team, and to be prepared for the unexpected. Cooke's financial problems could have been avoided if he had been more careful with his spending and if he had not borrowed so much money to finance the Lakers' move to Los Angeles.

Showtime era

The Showtime era was a period of great success for the Los Angeles Lakers. The team won five NBA championships in a row from 2000 to 2002, and they were led by some of the greatest players in NBA history, including Kobe Bryant, Shaquille O'Neal, and Phil Jackson.

  • Jerry Buss's ownership: Jerry Buss purchased the Lakers in 1979, and he was the driving force behind the team's success during the Showtime era. Buss was a visionary owner who was willing to invest in the team and its players. He also had a great eye for talent, and he was able to assemble a team of superstars that dominated the NBA for years.
  • Pat Riley's coaching: Pat Riley was the head coach of the Lakers during the Showtime era. Riley was a brilliant coach who was able to get the most out of his players. He was also a master of motivation, and he was able to inspire his players to play at their best.
  • The Lakers' players: The Lakers had some of the greatest players in NBA history during the Showtime era. Kobe Bryant, Shaquille O'Neal, and Phil Jackson were all at the peak of their powers, and they were able to form a dynasty that dominated the league.

The Showtime era was a special time for the Los Angeles Lakers. The team was one of the most successful in NBA history, and they played an exciting brand of basketball that thrilled fans around the world. Jerry Buss, Pat Riley, and the Lakers' players all played a role in the team's success, and they will always be remembered for their contributions to the Showtime era.

Legacy

The legacy of Jack Kent Cooke as the owner of the Los Angeles Lakers is a mixed one. On the one hand, he was responsible for moving the team to Los Angeles in 1960, a move that helped to make the Lakers one of the most popular and successful teams in the NBA. On the other hand, Cooke's ownership of the Lakers was also marked by financial instability, and he was forced to sell the team in 1979.

In contrast, Jerry Buss, who purchased the Lakers in 1979, is widely considered to be one of the most successful owners in NBA history. Under Buss's ownership, the Lakers won 10 NBA championships, including five in a row from 2000 to 2002. Buss was also responsible for creating the Lakers' Showtime era, which was one of the most dominant periods in NBA history.

The different legacies of Cooke and Buss can be attributed to a number of factors. Cooke was a successful businessman, but he did not have the same level of basketball expertise as Buss. Buss, on the other hand, was a lifelong Lakers fan who had a deep understanding of the game. He was also willing to invest heavily in the team, both on and off the court.

The legacy of Cooke and Buss is a reminder that ownership is a key factor in the success of any sports team. A good owner can provide the financial stability and leadership that a team needs to succeed. A bad owner, on the other hand, can damage a team's reputation and finances.

FAQs about "Who Owned the Lakers Before Jerry Buss"

This section provides answers to frequently asked questions about the ownership of the Los Angeles Lakers before Jerry Buss purchased the team in 1979.

Question 1: Who was the owner of the Lakers before Jerry Buss?


Answer: Jack Kent Cooke was the owner of the Lakers before Jerry Buss. Cooke purchased the team in 1965 and moved it from Minneapolis to Los Angeles.

Question 2: Why did Jack Kent Cooke sell the Lakers?


Answer: Cooke sold the Lakers to Jerry Buss in 1979 after defaulting on a loan from the Bank of America. Cooke had borrowed heavily to finance the Lakers' move to Los Angeles, and he was also facing legal problems related to his ownership of the team.

Question 3: How much did Jerry Buss purchase the Lakers for?


Answer: Jerry Buss purchased the Lakers for $6.5 million in 1979.

Question 4: What was the Lakers' record before Jerry Buss purchased the team?


Answer: The Lakers had a record of 408-360 before Jerry Buss purchased the team in 1979. The team had won five NBA championships under Cooke's ownership, but they had also struggled financially.

Question 5: What was the Lakers' record after Jerry Buss purchased the team?


Answer: The Lakers had a record of 1,612-854 after Jerry Buss purchased the team in 1979. The team won 10 NBA championships under Buss's ownership, including five in a row from 2000 to 2002.

Question 6: Who are some of the most famous Lakers players who played before Jerry Buss purchased the team?


Answer: Some of the most famous Lakers players who played before Jerry Buss purchased the team include Elgin Baylor, Jerry West, and Kareem Abdul-Jabbar.

Summary: Jerry Buss purchased the Los Angeles Lakers in 1979, and he quickly turned the team into one of the most successful franchises in the NBA. Under Buss's ownership, the Lakers won 10 NBA championships, including five in a row from 2000 to 2002.

Transition to the next article section: The next section of this article will discuss the Showtime era of the Los Angeles Lakers.

Tips on "Who Owned the Lakers Before Jerry Buss"

This section provides some tips on learning more about the ownership of the Los Angeles Lakers before Jerry Buss purchased the team in 1979.

Tip 1: Read books about the Lakers. There are a number of books that have been written about the Lakers, including several that focus on the team's history before Buss purchased the team. These books can provide a wealth of information about the team's owners, players, and coaches.

Tip 2: Watch documentaries about the Lakers. There are also a number of documentaries that have been produced about the Lakers, including several that focus on the team's history before Buss purchased the team. These documentaries can provide a visual overview of the team's history, and they can also include interviews with former players and coaches.

Tip 3: Visit the Lakers' website. The Lakers' website includes a section on the team's history, which includes information about the team's owners before Buss purchased the team. The website also includes a section on the Lakers' Hall of Fame, which includes biographies of all of the players and coaches who have been inducted into the Hall of Fame.

Tip 4: Talk to people who were around during the Lakers' early years. If you know anyone who was around during the Lakers' early years, they may be able to provide you with some firsthand information about the team's owners before Buss purchased the team. This could be a great way to learn more about the team's history and the people who were involved in it.

Tip 5: Do some research on your own. There are a number of resources available online that can help you learn more about the Lakers' history. You can find articles, books, and documentaries about the team, and you can also find information about the team's owners before Buss purchased the team.

Summary: By following these tips, you can learn more about the ownership of the Los Angeles Lakers before Jerry Buss purchased the team in 1979. This can help you to better understand the team's history and the people who were involved in it.

Transition to the article's conclusion: The next section of this article will discuss the Showtime era of the Los Angeles Lakers.

Conclusion

The Los Angeles Lakers have a long and storied history, and the team's ownership has played a major role in its success. Before Jerry Buss purchased the team in 1979, the Lakers were owned by a group of investors led by Jack Kent Cooke. Cooke was a successful businessman, but he did not have the same level of basketball expertise as Buss. Buss, on the other hand, was a lifelong Lakers fan who had a deep understanding of the game. He was also willing to invest heavily in the team, both on and off the court.

Under Buss's ownership, the Lakers won 10 NBA championships, including five in a row from 2000 to 2002. Buss was also responsible for creating the Lakers' Showtime era, which was one of the most dominant periods in NBA history. The Lakers' success under Buss is a testament to his ownership skills and his commitment to the team.

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