The Buss family, formerly led by patriarch Dr. Jerry Buss before then spearheaded by his daughter, Jeanie Buss, sold the Los Angeles Lakers to Mark Walter in 2025 for $10 billion, but with the franchise now on the move again, the former owners are already moving on and reportedly in talks to buy a new basketball team.
According to a recent report from a few days before the news broke that Walter is set to sell the Lakers again to Josh Kushner and Bob Iger for a historic $12.5 billion, the Buss family is linked to their first move outside their old team.
As Gabriel Pantel-Jouve of BeBasket reported, former NBA star Tony Parker’s EuroLeague team, ASVEL, is in financial trouble, and he is in talks to sell his team to the Buss family.
Buss Family In Talks To Buy New Basketball Team From NBA Legend Tony Parker
GettyLOS ANGELES, CALIFORNIA – MAY 12: President of the Los Angeles Lakers Jeanie Buss speaks during a banner unveiling ceremony for the Los Angeles Lakers 2020 NBA Championship before the game against the Houston Rockets at Staples Center on May 12, 2021 in Los Angeles, California.
As Pantel-Jouve first reported, due to the major financial struggles currently faced by Parker’s ASVEL team, the Buss family, formerly of Lakers fame, is a potential buyer if the European franchise is sold.
“ASVEL enters August with a very different project than the one envisioned at the start of the off-season. After the failure of a partnership that was supposed to boost its budget to €59 million, the Villeurbanne club has had to scale back, part ways with several new signings, and rebuild its roster. New coach Tony Parker must now finalize his recruitment while also overseeing negotiations for the sale of the club to the Buss family,” the French journalist wrote, translated into English.
With the club forced to release or sell some of its top players, the Buss family could give Parker some financial breathing room. Per Pantel-Jouve, a deal for ASVEL likely wouldn’t come before the initial target date of September, but would rather be finalized closer to the end of the calendar year.
“The sporting project is considerable, but the club’s future is also being decided behind the scenes. The Buss family, who sold the Los Angeles Lakers, are currently negotiating the purchase of ASVEL,” he added. “Valuation is the main point of discussion. Some shareholders who recently acquired stakes, particularly in anticipation of the NBA Europe project, were hoping for a deal around €120 million. Current negotiations suggest a price range of between €60 and €80 million.”
Parker, a former four-time NBA champion with the San Antonio Spurs, is the current coach of the team. However, amid the team’s current issues, the ex-point guard ‘remains at the heart of a deal’ that would see ASVEL sold to the Buss family following the end of their historically successful Lakers ownership run.
Lakers Set To Be Sold Again For $12.5 Billion
GettyMILWAUKEE, WISCONSIN – OCTOBER 13: Los Angeles Dodgers Owner & Chairman Mark Walter looks on before game one of the National League Championship Series between the Los Angeles Dodgers and the Milwaukee Brewers at American Family Field on October 13, 2025 in Milwaukee, Wisconsin. (Photo by Michael Reaves/Getty Images)
Despite now being in talks to purchase a new team, the Buss family aren’t out of Lakers-related headlines just yet, as news broke on the morning of Wednesday, August 12, that the Los Angeles basketball franchise will change hands once again, just 14 months after the Buss family sold the team to Walter.
In the historic 2025 deal, the Buss family sold the Lakers to Walter at a record-breaking $10 billion valuation, and most recently, Ramona Shelbourne reported that the current owner is planning on selling the franchise for an even greater $12.5 billion to Kushner and Iger.
“Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead,” Walter said in a statement per the ESPN NBA reporter.
Despite a complicated process that initially saw Jeanie Buss keep her role with the team, it now looks like the entire Buss family is no longer involved in decision-making regarding the Lakers. They sold their share in the team to Walter, but amid federal investigations, he is moving on from his historic investment almost as quickly as the process took to purchase the team.
While the Buss family is now looking for new basketball ventures, they will always be linked to the Lakers in some form after Jerry Buss bought the team in 1979 for $67.5 million.
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