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Lakers Face Transition After Buss' Death

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Longtime Los Angeles Lakers’ owner Jerry Buss died Monday at the age of 80. He had been at Cedars-Sinai Medical Center in recent days with an undisclosed type of cancer. The news was first reported by the Los Angeles Times.

 

Buss made a fortune on Southern California real estate in the 1960s and 1970s. He then led a partnership in 1979 that bought the Lakers, the NHL’s Los Angeles Kings, The Forum (the arena which housed both teams) and a 13,000-acre ranch in the California Central Valley from Jack Kent Cooke, who achieved fame through his ownership of the Washington Redskins. The Lakers’ piece was valued at $20 million. Last month the team was valued at $1 billion in Forbes annual look at the business of basketball.

While $20 million...

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