Former Los Angeles Lakers executives Joey and Jesse Buss have agreed to buy roughly 5 percent of the San Diego Padres, sources told The Athletic. The brothers' investment through Buss Sports Capital marks their first major sports move since the Buss family sold its controlling stake in the Lakers last year. This news arrives as the Lakers' on-court performance has dipped, with the team losing its last four games, including a 110-115 defeat to the Oklahoma City Thunder on May 12, 2026.
What is the deal Joey and Jesse Buss made?
Sources familiar with the transaction, who spoke anonymously because it isn't public, confirmed Buss Sports Capital will acquire about 5 percent of the MLB franchise. Joey and Jesse Buss will join the Padres' ownership advisory board as part of the agreement. The deal puts them in direct competition with Mark Walter, who led the group that bought the Lakers and also owns the Los Angeles Dodgers.
In a statement obtained by The Athletic, Joey Buss expressed enthusiasm. "We are honored to join Kwanza and José and have the opportunity to contribute to the future of a team that Jesse and I have loved since we were kids growing up in San Diego," he said. The brothers believe the Padres are poised for success and plan to use their experience to help build on the team's existing foundation.
Why does this matter for the Los Angeles Lakers?
This investment is the latest step for Joey and Jesse Buss after the end of their family's decades-long control of the Lakers. The Buss family sold its controlling stake to Walter last year. Just last week, Joey and Jesse Buss voted with three siblings to sell the family's remaining stake in the Lakers. That sale was part of Walter's record $12.5 billion sale of the franchise to a group led by Joshua Kushner and Bob Iger.
However, not all family members agree. Jeanie Buss, the Lakers' governor, argued through an attorney that her siblings cannot sell. Her attorney cited a 2017 court order requiring co-trustees to ensure Jeanie remained the controlling owner. The sources say the Buss brothers and other siblings who voted to sell believe they have the authority to proceed.
Both Joey and Jesse Buss were fired by the Lakers organization in November 2025. Joey served as alternate governor and vice president of research and development, while Jesse was assistant general manager and director of scouting. Their departure and this new investment underscore a complete separation from the Lakers' basketball operations.
What comes next for the Buss brothers and the Padres?
The brothers intend to apply their NBA experience to baseball. While minority investors don't construct rosters, they are expected to give strategic advice on team building. This includes insights from operating under the NBA's salary cap and making long-term decisions about player resources and development.
Joey and Jesse Buss, through Buss Sports Capital, are also among groups interested in NBA Europe ownership. Their focus now shifts to contributing to the Padres while the Lakers franchise moves forward under completely new ownership. Fans can track the Lakers' progress, including their recent 1W-4L form, on our [standings](/standings) page.
For the Lakers, the immediate concern is reversing their recent slide. After the May 12 loss to Oklahoma City, the team's form reads LLLLW, with four consecutive defeats. Turning that around will be the primary task for the new ownership and basketball staff as they look ahead to future [fixtures](/fixtures).
