RIP Dr. Buss!

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    RIP Dr. Buss!

    Sad day for family members and NBA!

     
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    Re: RIP Dr. Buss!

    Update: 11:20 AM ET

    Mike Bresnahan: Lakers owner Jerry Buss passed away this morning. A sad day for L.A. Twitter @Mike_Bresnahan

    Rumors tags Los Angeles Lakers, Jerry Buss  |  

    Ken Berger: Two league sources confirm sad news: Lakers owner Jerry Buss, an icon of the sport, has died. He was 79. Twitter @KBergCBS

     
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    Re: RIP Dr. Buss!

    God Bless - a great owner. 

     
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    Re: RIP Dr. Buss!

    My condolensces Laker fan. 

     
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    Re: RIP Dr. Buss!

    Great story:

    From bread line to Lakers owner, Jerry Buss left a lasting impact on the NBA

     By Steve Springer | Yahoo! Sports 25 minutes ago

    Jerry Buss purchased the Lakers for $16 million in 1979. (AP)

     

    Few have ever succeeded at making such a daunting climb, from the nightmarish depths of utter poverty and hopelessness to the soaring heights of unimaginable wealth and power.

    At the age of four, Jerry Buss was standing in a bread line on the frozen soil of Evanston, Wyo., a gunny sack in hand, waiting for the food that would keep him and his single mother, Jesse, alive for another day.

    It was 1937, the lingering effects of the Great Depression still gripping parts of the nation.

    By the time he had turned six, Buss' duties had expanded to include trekking around town in search of old telephone books or other paper products that could be stuffed into the fireplace to provide warmth in a house devoid of heat.

    By the time he was 34, exactly three decades after he had stood in that bread line, Buss had made his first million.

    By the age of 46, Buss and his business partner, Frank Mariani, had parlayed that million into a real-estate empire that was spread over three states California, Nevada and Arizona and was worth an estimated $350 million. Buss died Monday at the age of 80.

    For most men, such a swift and impressive rise would have been enough to savor for a lifetime.

    Not Jerry Buss. He had his eyes on bigger prizes.

    That same year, 1979, he pulled off arguably the most complicated and lucrative transaction in sports history.

    Buss' savvy real-estate investments helped make him a fortune. (Getty Images)Supported by an army of approximately 50 lawyers and accountants, Buss purchased the Lakers, the Kings hockey team, the Inglewood Forum and the 13,000-acre Raljon Ranch in the Sierra Nevada mountains from Jack Kent Cooke for $67.5 million. The deal broke down to $33.5 million for the Forum, $16 million for the Lakers, $10 million for the ranch and $8 million for the Kings.

    Cooke, in exchange, received the lease to the Chrysler Building in New York, and properties in Virginia, Massachusetts and Maryland.

    When the deal was done, 12 separate escrows finalized, Buss spent his first day at the Forum inspecting the crown jewel of his properties.

    As the workday ended and the arena emptied out, he lingered, surrounded by only a few security people.

    With no event that night at the Forum, Buss took a chair and walked down to the empty floor where he was surrounded by silence and darkness, except for a few scattered lights.

    He sat down at what would be midcourt or center ice, took out a cigarette, lit it and inhaled the magnitude of his surroundings.

    In his mind's eye, he could see the seats packed, his Lakers and Kings moving up and down the floor or ice, his championship banners on the wall.

    Smiling, Buss told himself, "You've come a long way, baby."

    It was never an easy path.

    When his mother remarried, Buss found himself in Kemmerer, Wyo., under the yoke of a tough stepfather, Cecil Brown, who ran a plumbing business.

    "He was a very tight-fisted guy who had all kinds of weird ideas," Buss once said. "He wanted me to get up at 4:30 in the morning (often in temperatures of 15 below) and go out and dig ditches in frozen ground so he could lay the plumbing. That was my contribution to the family. Then, after three or four hours of this, I was supposed to go to school."

    Buss also worked at a local hotel where he made $2 a day.

    Seeking a better life, he quit school after his junior year of high school to go to work for the railroad. After three months of up to 14 hours a day for little money, he returned to school and went on to the University of Wyoming and eventually USC where he earned a doctorate in physical chemistry.

    That earned Buss a job at the Douglas Aircraft Company where he was paid $700 a month.

    He decided to put aside $83.33 from that monthly paycheck in order to raise a thousand dollars in one year. Mariani, a fellow worker, did the same. Getting four other investors to join them, Buss and Mariani put down $6,000 in 1959 to buy a 14-unit apartment building in West Los Angeles for $105,000.

    It was from that single structure that Buss and Mariani began amassing holdings that would eventually spread across the Southwest.

    Buss always said with pride that he knew what he didn't know. He knew real estate, he knew economics and he knew how to sell a product, but he didn't know basketball, not at a higher level than that of the average fan.

    So when he took over the Lakers, he had no intention of being a Jerry Jones by meddling in the intricacies of personnel decisions. For that, he had Bill Sharman, Jerry West and a string of competent coaches.

    Buss focused instead on marketing the team. Magic Johnson had already been drafted by the Lakers by the time Buss took over the club, but it was Buss who envisioned that the unorthodox point guard with the brilliant ball-handling skills, flashy style and ebullient personality could not only be the central figure in a championship run, but also for a unique brand of basketball that combined sports and entertainment.

    Long a fervent supporter of his alma mater, USC, Buss took two successful elements from Trojan games cheerleaders and a band to build his brand.

    Like any successful product, Buss' brainchild needed a name. For that, he reached back to his nights at a Santa Monica nightclub named The Horn. The evening's entertainment there would begin with one, then two, then three singers rising from tables spread around the room, each proclaiming, "It's Showtime."

    So Showtime it would be for the Lakers.

    "At that time," Buss recalled, "people were saying, 'Don't bother to go to the game. Just pop in on the telecast for the last three minutes and you can see the whole thing.' We wanted to change that, and one way was to have entertainment all the way through the game."

    By making the Forum the place to be, Buss knew that he would attract the Hollywood crowd, and that, in turn, would guarantee that fans would come to see the stars as well as the show on the floor.

    When Buss took over the Lakers, courtside seats were $15.

    "Originally, I wanted to free up some floor seats," he said, "so that not only myself, but my friends a lot of attorneys and accountants who helped me put together the deal to buy the Lakers could enjoy them.

    "I had been trying to buy floor seats for perhaps 10 years before I purchased the team, but there were never any for sale. So, I thought, they must be underpriced. I figured I'd increase them from $15 up to $30. Nobody cancelled. I then decided to go to $60, figuring that, for sure, we would get eight or 10 cancellations."

    Eventually, when the price went over $100, Buss found some seats for his friends. But not many were available even today when those seats are more than $2,700 for the regular season and more than $3,000 for the playoffs.

    Along with marketing and finances, Buss understood, as have few, if any, other owners, the importance of favorable press and the duties and obligations of the media.

    When I wrote an investigative story in the Los Angeles Times concerning Buss' and Mariani's financial dealings, Buss didn't hold a grudge. After joking that he would have paid me $100,000 not to run the story, he gave me all the time I requested for a book I was writing about him and his team. Buss understood that I had just been doing my job.

    Speaking at a time when newspapers were king, Buss once said, "I never get in pissing matches with people who buy ink by the barrel."

    Back when the Forum press lounge was the prime watering hole after games, he would sit there with media people until 4 a.m., soliciting their opinions and offering his own on the state of his team, the NBA in general and the L.A. market. But Buss knew, of course, that the glow of the entertainment elements he had instituted would soon dim if the excellence of the team wasn't equally as bright.

    So he spared no expense in building teams capable of plastering the walls with banners. The Johnson/Kareem Abdul-Jabbar dynasty of the 1980s was followed by the Shaquille O'Neal/Kobe Bryant championship teams at the turn of the century and the Bryant/Pau Gasol clubs that reached the NBA Finals three times and won two championships.

    "He is a master at building a team," said Johnson at the time of Buss' induction into the NBA Hall of Fame in 2010. "He has put the Lakers right up there with the New York Yankees as the top brands in sports.

    "He has been able to do so because he is one of the shrewdest businessmen you will ever meet. With him, it's never been about putting money in his pocket. It's always been about putting it back into the team."

    In all, Buss' Lakers have won 10 NBA titles, making him the single winningest owner in sports history.

    And with that success has come the financial rewards. The team that he purchased for $16 million was recently valued at more than $1 billion.

    Not bad for a kid who once considered success being a gunny sack full of food.

     
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    Re: RIP Dr. Buss!

    Sad News. God Bless the Buss family.

     
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    Re: RIP Dr. Buss!

    May God bless the best owner in the history of professional sports. Lakers Nation is morning this great loss for the city of LA, for the NBA and their fans.

     
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    Re: RIP Dr. Buss!

    Thanks to all Celtics fans who appreciate Dr. Buss and his legacy.

     
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    Re: RIP Dr. Buss!

    http://i.imgur.com/mRaYNLk.jpg

     
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    Re: RIP Dr. Buss!

    No doubt, one of the best owners in the history of sports!

     
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    Re: RIP Dr. Buss!

    "Jerry Buss helped set the league on the course it is on today," NBA Commissioner David Stern said. "Remember, he showed us it was about 'Showtime,' the notion that an arena can become the focal point for not just basketball, but entertainment. He made it the place to see and be seen." Los Angeles Times

    Rumors tags Los Angeles Lakers, Jerry Buss, David Stern  |  

    Mark Cuban: RIP Jerry Buss. Your encouragement and support along with your stories of staying true to yourself had an enormous impact on me. Twitter @mcuban

    Rumors tags Dallas Mavericks, Los Angeles Lakers, Mark Cuban, Jerry Buss  |  

    Adam Aron: On behalf of the entire 76ers organization, we send sincere condolences to the Buss family and all at the Lakers. A great man has left us. Twitter @SixersCEOAdam

    Rumors tags Los Angeles Lakers, Philadelphia 76ers, Jerry Buss, Adam Aron  |  

    Micky Arison: Really sorry to hear about Dr. Buss. Jerry R.I.P. my friend Twitter @MickyArison

    Rumors tags Los Angeles Lakers, Miami Heat, Jerry Buss, Micky Arison  |  

    Billy King: R.I.P. Jerry Buss the NBA has loss a true pioneer Twitter @bkdefend

    Rumors tags Los Angeles Lakers, Brooklyn Nets, Jerry Buss, Billy King  |  

    Mark Jackson: Thoughts and Prayers to the family, friends, and fans of Dr Buss! Basketball has lost a giant! God Bless Twitter @JacksonMark13

    Rumors tags Golden State Warriors, Los Angeles Lakers, Mark Jackson, Jerry Buss  |  

    Roland Lazenby: Condolences to the Buss and Lakers families on the passing of Dr. Jerry Buss, a man who changed much about the NBA. Twitter @lazenby

    Rumors tags Los Angeles Lakers, Jerry Buss  |  

    Tim Kawakami: Classic Buss: Right before the Lakers started winning big w/Shaq & Kobe, things got tense--firing coaches, signing Rodman, trades... Asked Buss about the controversy surrounding his team. "Some call it controversy," Buss said, arm around a gorgeous girl, "I call it love." Twitter @timkawakami

    Rumors tags Los Angeles Lakers, Jerry Buss, Dennis Rodman  |  

    Eric Gordon: R.I.P Jerry Buss Twitter @TheofficialEG10

    Rumors tags Los Angeles Lakers, New Orleans Hornets, Jerry Buss, Eric Gordon  |  

    Anthony Tolliver: Wow just heard that Jerry Buss died. Prayers go out to the Buss family. Twitter @ATolliver44

    Rumors tags Atlanta Hawks, Los Angeles Lakers, Anthony Tolliver, Jerry Buss  |  

    Landry Fields: Wow.. Prayers go out to the Buss family! Twitter @landryfields

    Rumors tags Los Angeles Lakers, Toronto Raptors, Jerry Buss, Landry Fields  |  

    Quincy Pondexter: RIP to the legendary Dr. Buss.. Prayers up Twitter @QuincyPondexter

    Rumors tags Los Angeles Lakers, Memphis Grizzlies, Jerry Buss, Quincy Pondexter  |  

    Marshon Brooks: Rest in Peace Jerry Buss Twitter @Marshon2

    Rumors tags Los Angeles Lakers, Brooklyn Nets, Jerry Buss, Marshon Brooks  |  

    Nick Young: RIP Dr. The Legend Jerry Buss, one of the reason growing up in a LA was great, what you did for the Lakers & the NBA Is legendary. Twitter @NickSwagyPYoung

    Rumors tags Los Angeles Lakers, Philadelphia 76ers, Jerry Buss, Nick Young  |  

    Adonal Foyle: Our #NBA family lost an icon. Jerry Buss RIP Twitter @afoyle3131

     
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    Re: RIP Dr. Buss!

    Rest in peace a great owner and worthy rival.

     
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    Re: RIP Dr. Buss!

    Started with a $1000 investment in a real estate deal. A great American story!

     
  16. You have chosen to ignore posts from BCSP. Show BCSP's posts

    Re: RIP Dr. Buss!

    Great line:

    Perhaps other team owners would get an invitation to a party at a friend's house in their honor when they won a championship. In Buss' case, it came from Hugh Hefner at the Playboy Mansion. Whenever I interviewed Buss on the phone he would be somewhere enviable. When I was in Indianapolis for the 2000 NBA Finals he was at his Southern California beach house. On another occasion he was in Hawaii. When the team was crumbling in the summer of 2004, with the greatest basketball coach of all time dispatched and the greatest center of his era shipped to Miami, Buss was in Italy, where he reported, "The pasta's great and the wine's flowing freely."

     
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    Re: RIP Dr. Buss!

    R.I.P

     
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    Re: RIP Dr. Buss!

    A sad day for professional sports. He was unparallelled in Los Angeles.

     
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    Re: RIP Dr. Buss!

    RIP...class and winning ways so rarely merge.

     

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