Joey and Jesse Buss, through their investment group Buss Sports Capital, have reached an agreement to acquire approximately 5% of the San Diego Padres, according to The Athletic [1]. This move comes as the Buss family continues to experience internal conflict regarding their remaining ownership stake in the Los Angeles Lakers. The family previously sold its controlling stake in the Lakers to Mark Walter last year, and more recently, Walter sold the franchise to a group led by Joshua Kushner and Bob Iger. Subsequently, Joey, Jesse, and three siblings—Janie, Johnny, and Jim—voted to sell the family's remaining 17.8% stake in the Lakers to Iger and Kushner. However, Jeanie Buss, the Lakers' governor, opposed the sale, arguing that her siblings cannot sell through an attorney, leading to a family feud over the Lakers stake [1].
The Padres' controlling shares were acquired last week by Kwanza Jones and José Feliciano for $3.9 billion. Joey and Jesse Buss expressed their honor in joining Jones and Feliciano, emphasizing their lifelong connection to the Padres and their commitment to contributing to the team's future. Jesse Buss, who also serves as director of scouting and assistant general manager for the Lakers, highlighted the importance of sports in their family and the opportunity to strengthen the Padres' community both locally and globally [1].
With their investment, Joey and Jesse Buss will join the Padres’ ownership advisory board. Joey Buss stated that the Padres are "on the cusp of something special" and that Buss Sports Capital aims to leverage their experience to build on the team's strong foundation [1].
The acquisition also positions the Buss brothers as rivals to Mark Walter, their former Lakers co-owner, who currently owns the Los Angeles Dodgers. The Padres and Dodgers, both National League West teams, have faced each other multiple times in the postseason over the past decade [1].
CONCLUSION
Joey and Jesse Buss's acquisition of a 5% stake in the San Diego Padres marks a significant shift in their sports investment portfolio amid ongoing disputes over the Lakers' ownership. Their involvement with the Padres' advisory board and alignment with new controlling owners Kwanza Jones and José Feliciano could influence the team's future direction. The move also intensifies their rivalry with Mark Walter, now owner of the Dodgers.