Joey and Jesse Buss have reached a deal to buy a minority stake in the San Diego Padres as internal fighting over selling their remaining shares in the Los Angeles Lakers continues.
The youngest siblings of former Lakers owner Jerry Buss acquired an ownership stake of around 5% in the Major League Baseball franchise through their investment firm, Buss Sports Capital.
The acquisition joins them with controlling owners Kwanza Jones and Jose E. Feliciano, who bought the Padres for $3.9 billion in a transaction unanimously approved by MLB owners on August 17. Under the terms of the agreement, both Buss brothers will sit on the ownership group's advisory board.
Joey Buss expressed enthusiasm for joining the organization in a statement provided to The Athletic.
"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," Joey Buss said.
"Sports have always been a part of our family's story, and great organizations have a unique ability to bring people together and create a lasting sense of community," he added. "Padres fans have built one of the most passionate and loyal communities in all of sports, and we believe there is a tremendous opportunity to deepen that connection in San Diego and around the world."
"The Padres are on the cusp of something special, and through Buss Sports Capital, we look forward to bringing our experience and perspective to the ownership group and doing our part to build on the strong foundation already in place," Joey Buss said.
San Diego Padres ownership investment
The San Diego Padres are a professional baseball team competing in Major League Baseball's National League West division. Major League Baseball represents the highest level of professional baseball in North America, comprising 30 teams across the United States and Canada.
Dispute over Los Angeles Lakers ownership
The investment in baseball comes amidst ongoing friction within the Buss family regarding the ownership structure of the Los Angeles Lakers. The family previously sold its majority stake in the basketball franchise to Mark Walter last year, while retaining a 17.8% stake that permitted sister Jeanie Buss to stay on the board as team governor.
Earlier this month, Mark Walter agreed to sell the franchise to investor Joshua Kushner and Walt Disney Company chief executive Bob Iger in a transaction valuing the Lakers at $12.5 billion. Following that agreement, Jeanie's five siblings, Jim, Johnny, Janie, Joey, and Jesse, voted to sell the family's remaining holding in the team.
Jeanie Buss has challenged the vote through her attorney, declaring the decision null and void because she was the sole sibling who did not vote in favor of selling the team.
However, the remaining five siblings have refused to back down from their decision. In a joint statement released last week, the siblings confirmed their intention to proceed with the transaction.
"The Los Angeles Lakers have never been just a basketball team. They have been one of the greatest privileges of our lives," the siblings stated.
"Our focus has always been on what we believe is best for the Lakers, the fans who have supported this franchise for generations and the greater Los Angeles community," the statement continued. "Johnny, Jimmy, Janie, Joey and Jesse have made the decision to sell the family's remaining stake, and we remain united in that decision. We intend to move forward thoughtfully, respectfully and through the appropriate process."
"We have tremendous respect for Bob Iger and Josh Kushner and believe they understand what the Lakers represent to Los Angeles and our incredibly loyal fan base," the siblings added. "We are confident they will honor everything this franchise stands for while building upon the foundation our father created."
The Los Angeles Lakers are one of the most successful franchises in American professional sports history, competing in the NBA's Western Conference. The late Jerry Buss acquired the team in 1979 and oversaw an era of historic success, establishing a family legacy that made the franchise central to the Los Angeles sports landscape for over four decades.
Background of Buss Sports Capital
Joey and Jesse Buss previously served in operational roles for the Lakers before being dismissed by their sister Jeanie shortly before the family agreed to sell its majority stake to Mark Walter.
Following their departure, the brothers established Buss Sports Capital in September 2025 to pursue independent sports business opportunities, including reported efforts to acquire a stake in NBA Europe.
"Our vision is to really go after strategic investments and good partners, specifically sports-related investments," the brothers said in a statement when launching the firm in September 2025. "Buss Sports Capital is not going to compete with our interests in the Lakers or the NBA."
"This is our first step towards where the future of sports is going to lead us," they added. "It is exciting to see what growth opportunities exist, particularly opportunities that we can add value to, given our skill sets."
