Jim Buss

Who is Jim Buss?

Jim Buss is a former Executive Vice President. Jim Buss is recognized as the part-owner of the Los Angeles Lakers of the National Basketball Association. Jim was the president of the Los Angeles Lakers before getting into the basketball business.

Jim is the younger brother of the well-known Jerry Buss. Aside from his managerial responsibilities, he is well-known for his passion for horse training.

Early Life, and Family

Jim Buss was born on November 9, 1959, in Los Angeles County, California, to Jerry Buss and JoAnn Mueller.

Jerry, Jim’s father, was an entrepreneur, chemist, philanthropist, and investor.

He also controlled the majority of the NBA’s “Los Angeles Lakers” professional basketball franchise.

Jim was the second of the Buss family’s six children.

Johnny Buss, the oldest, Jeanie Buss, Janie Buss, and stepbrothers Joey Buss and Jesse Buss are the five siblings.

Jim’s father and mother divorced in 2012, and Jim’s father died in 2013 from kidney failure caused by an unidentified kind of cancer.

Following his father’s death, the Los Angeles Lakers’ controlling ownership was divided equally among his six children.

Education

Jim Buss received his schooling at the University of Southern California, where he majored in mathematics.

He then dropped out of college and spent his youth working as a thoroughbred trainer at race tracks.

It is a horse breed that is best suited to horse racing. At the age of 20, James enrolled in the Jockey school.

Facts of Jim Buss

Net Worth & Income

Jim Buss’s net worth is approximately $150 million. Jim has yet to reveal any additional information about his earnings.

After Jim’s father died, their family trust divided Jerry’s $600 million and other assets among the Buss siblings in equal parts.

Jim makes the majority of his money as a basketball trainer. Jim is currently living a luxurious lifestyle with his family and is content with his life.

However, the information regarding personal assets like Bungalow, bank balance, and many others are not available at the moment.

Professional Career

Jim and his best friend started a small business together. Unfortunately, his friend died in a vehicle accident in 1988, leaving him distraught and lost, and their business failed as a result.

After his brother, Johnny, resigned from his role as president of his father’s indoor soccer team, the Los Angeles Lazers, in 1985, James took over.

He was able to reduce annual losses from $1 million to $500,000. The team, however, disbanded in 1989. After obtaining a half-dozen thoroughbreds from his father, he went on to become a horse trainer.

In 1997, he sold his horse racing stock, which had become increasingly unprofitable.

Soon after, he persuaded his son to join the Los Angeles Lakers, which he bought in 1979 and turned into one of the most profitable and popular sports organizations in the world.

Collaboration with the Lakers

Buss began his career with the Lakers in 1998 as an apprentice to Mitch Kupchak, Jerry West’s general manager, and assistant.

He remarked in an interview for the November 1998 issue of Sports Illustrated that evaluating basketball talent is not difficult and that the judgments of pro scouts and bar patrons are similar.

However, he eventually congratulated the Lakers scout, but his statement remained highly divisive.

Jim went on to learn about basketball management from his father, West, and subsequently, Mitch Kupchak, who took over as general manager in 2000.

Jim was promoted to vice president of player personnel by the team later in 2005.

His father’s original intention, though, was for Buss to handle basketball matters and his sister Jeanie to become the Lakers’ vice president of business operations.

In the case of Andrew Bynum, a decision has been reached.

During the 2005 NBA Draft, Jim was an outspoken supporter of high school athlete Andrew Bynum, a decision that his father had to back up.

According to reports, Jim declared that after seeing Bynum’s workout, he fell in love with him in five minutes.

He was also linked to the rehiring of Phil Jackson as coach of the Los Angeles Lakers. At Jackson’s welcome-back news conference, Buss was the only family member present.

Jim stayed at Andrew Bynum’s side as he dealt with his injuries and immaturity. He also refused to trade Bynum despite Kobe Bryant’s requests.

Following Jackson’s retirement, the Lakers association named Brian Shaw as his replacement.

Jim, on the other hand, hired Mike Brown instead of Shaw without consulting the Laker’s star player, Kobe Bryant.

Shaw, who is well-liked, made an unusual radio interview in which he chastised Jim for his treatment during the recruiting process.

The Lakers got rid of over two dozen people with a combined 100 years of experience from the basketball operations crew during the NBA player lockout this offseason.

Ronnie Lester, Assistant General Manager, whose contract was not renewed by the organization after 24 years of service, remarked that outstanding organizations do not treat their employees as poorly as they did.

Furthermore, Lester’s public critique revealed how firmly he believed the Lakers were in the wrong, according to CBSSports.com.

NBA administrators are normally quiet, and Lester’s public criticism showed how strongly he believed the Lakers were in the wrong.

Furthermore, according to reporter Stephen A. Smith, Kobe Bryant was enraged by Buss’ hiring decision.

“They had to do what they had to do,” Jim said, fearing the season would be canceled as a result. There’s no doubt about it: it’s not enjoyable.”

After the Lockout Is Lifted

After the lockout ended in the winter of 2011, Jim agreed to trade Chris Paul to the New Orleans Hornets in exchange for Pau Gasol and Lamar Odom before the start of the 2011–12 NBA season.

The trade, however, was thwarted by NBA commissioner David Stern. During the following NBA season, the Lakers acquired Steve Nash in exchange for Bynum’s Dwight Howard.

The Lakers’ acquisition of Howard proved to be the start of a new dynasty. Everyone expected the Lakers to be title contenders thanks to their $100 million payrolls.

Brown, on the other hand, was fired by the organization following a 1–4 start. His dismissal after only five games was the NBA’s third-fastest coaching change ever.

The Lakers chose not to re-hire Jackson and instead hired Mike D’Antoni after a unanimous decision by Buss, his father, and Mitch Kupchak.

Jerry Buss’ 66 percent managerial ownership of the Los Angeles Lakers was handed to his six children via a trust after his death in 2013, with each kid receiving an equal vote.

As part of Jerry’s succession plan, Jeanie was appointed as the Lakers’ governor and club representative at NBA Board of Governors meetings.

After the season, the Lakers were unable to re-sign free agent Howard. He signed with the Houston Rockets after turning down a $30 million offer from the Los Angeles Lakers.

Jeanie, Jim’s sister, stated that she would feel more at ease with her business connection with Buss if she had a greater understanding of the basketball decision-making process.

During the 2013–2014 NBA season, Jeanie was named president of the Lakers, where she oversaw the team’s basketball operations while collaborating with Jim.

He was promoted to Executive Vice President of Basketball Operations for the Lakers.

Magic Johnson, a former Lakers player and part-owner who was also close to Jim’s father, said Buss needed to put his ego aside and seek support in order to help the Lakers acquire free agents from other clubs.

In the same season, Jim signed Bryant to a two-year, $48.5 million contract deal before he had fully healed from an injury.

According to the Los Angeles Times, the deal was one of the worst made by the Lakers.

Jim promised his siblings in January 2014 that if the Lakers did not compete for the Western Conference title in three to four years, he would resign.

Jeanie, his sister, said she kept him because of his self-imposed deadline and expected him to lead the Lakers.

However, Jim was ousted as head of the Lakers’ basketball operations on February 21, 2017, despite being a part-owner of the team as per their father’s will.

Jim was fired as a trustee of the Buss family trust and was removed from the Laker’s board of directors after a disagreement with his sister Jeanie about ownership.

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Wife and Children

Jim Buss is usually introverted and avoids the spotlight. Hence, his private life is not usually known by the public.

Reportedly, Jim got married in 1983 and got separated from his wife months later due to some unavoidable reasons.

Together, they adopted their son Jager Buss and continued living together because a social worker monitored the couple for the adoption procedures.

The couple soon got divorced in 1985, and Jim won the sole custody of their son.

He also has two daughters named Micaela Buss and Milahna Buss.

None of the sources have disclosed the information regarding Jim’s partners.