Fu Zhenghao: Jenny continues to take power after selling the team, but most of the similar cases ended in failure & Kuban is

June 20 According to previous reports, the Bass family will sell most of the Lakers' equity for $10 billion, and Jenny Bass will continue to manage the team.

In response to this, media person Fu Zhenghao posted a long article to evaluate the Lakers' operations. The full text is as follows:

Jenny Buss, who has handed over the controlling stake in the Lakers, will continue to control the Lakers' operating rights as a small shareholder of the Lakers. This wishful thinking seems to be crackling, but it is likely to lay the hidden dangers for himself and the existing Lakers management to be greatly cleaned in the future. Before her, Cuban of the Mavericks, Colangelo of the Suns, and Jordan of the Wizards had all been promised similar privileges, but in the end they found that they could not really enjoy this decision-making power, and Jordan even broke up with the major shareholder because of this.

Jenny Buss chose to retain about 15% of the equity after selling the Lakers' controlling stake, and it was clearly agreed in the sale agreement that she will continue to serve as the Lakers' president in the next few years and will be responsible for the team's daily operations as a representative of the Lakers' board of directors. Lakers' new owner Mark Walter agreed to the agreement. In other words, although Jenny Bass has retired to a small shareholder, he still wants to continue to exercise the team's daily operation and decision-making power when he was a major shareholder. Can this really be done? Once there is a disagreement between the major shareholder and her, the conflict will intensify.

Before the Bass family sold the Lakers' controlling stake, Cuban also received a promise to continue to operate the ball as a minority shareholder. Cuban sold most of the Mavericks' equity to the Adelson family for $3.5 billion in 2023. Cuban was also allowed to retain a small part of the equity at that time, and the new boss agreed that he would continue to be responsible for the team's daily operations. But within two years, Cuban was gradually marginalized. In the early 2025 when Doncic was traded, Cuban even had no idea about it. The so-called "can continue to be responsible for the daily operations of the team" became empty talk.

Similar situations are not uncommon. In 2004, former Suns boss Jerry Colangelo sold the team to Robert Savo for $400 million. Colangelo has served as a player, coach, and NBA general manager, and bought the Suns for $44.5 million in 1987. He is regarded as one of the NBA's best management bosses and is regarded as highly respected among NBA bosses (later the American Basketball Association invited him to form the multiple Dream Teams from 2006 to 2021).

So, when Colangelo sold the Suns, the new boss Savo enthusiastically promised to ask him to continue as the team's president. He still has the power to operate the team on a daily basis. His son Colangelo Jr. can also continue to serve as the team's basketball operations president. Savo promised the father and son "to do as long as they want" in the Suns. But in fact, not long after, Colangelo was undermined and became a famous honorary president. He then chose to accept the invitation of the American Basketball Association and began to be responsible for forming the Dream Team. Colangelo Jr. also went to Toronto in 2006 to serve as the president of the Raptors.

Another typical cases include Jordan, who once served as the Wizards' boss. In 2000, under the mediation of Leonsis, the second largest shareholder of the Wizards (now the Wizards boss), Jordan, who had just retired, bought 5% of the Wizards' equity from the Wizards' major shareholder Abby Pollin, and was appointed by Pollin as the president of Wizards' basketball operations, who was fully responsible for the daily operations of the team. Even Unseld, the greatest player in the history of the Wizards and the general manager of the Wizards, had to report to Jordan. Jordan is quite strong and has repeatedly disagreements with Bolin's confidants.

In order to boost the Wizards' operating conditions as soon as possible, Jordan simply chose to make a comeback before the 2001-02 season began, trying to use his personal ability and personal influence to help the Wizards become a strong team. Because the NBA does not allow players to hold stakes in the team, he returned 5% of the shares to Polyn. Although the Wizards made a lot of money because of Jordan's comeback, Jordan played for two seasons with the Wizards but failed to make the team a strong team. He finally retired again in the summer of 2003. He then hoped that Polyn could sell his equity to himself again and restore his presidential status, but Polyn rejected Jordan's request, believing that Jordan was not suitable for managing the team. In the end, the two parted ways. Jordan was resentful and once used the media to criticize Polyn as an old liar.

The only one who truly manages the team as a small shareholder and lives in harmony with the team's major shareholders for a long time seems to be the only Heat president Pat Riley. In the summer of 1995, Riley, who was originally the coach of the New York Knicks, suddenly announced that he would join the NBA new Miami Heat (joined the NBA in 1988). The reason is that the conditions offered by Heat boss Arison are too attractive. Not only is the annual salary as high as 7 million, Riley also holds two real positions in the Heat, head coach and president, and has also received 10% equity incentives from the Heat. Riley and the Knicks had one year contract. After being complained about the NBA headquarters, Allison compensated the Knicks $1 million and a future first-round draft pick.

Riley quickly changed the lineup after joining the Heat: he poached Mooning from the Hornets, introduced Tim Hardaway from the Warriors, and once poached Zhu Wan Howard from the Bullets (the predecessor of the Wizards) for 7 years for 105 million yuan (the NBA announced the signing of the contract was invalid after the franchise press conference), and almost formed the original version of the Big Three.

Riley's status in the Heat is the godfather. Although she only has 10% equity, she has received full authorization and trust from Allison. Therefore, Riley is the only one who speaks about the team's daily decisions and signings, and she has a godfather's style. Later, he won three NBA championships for the Heat by introducing O'Neal, cultivating Wade, and forming the three giants in 2010. He is still the president of the Heat and is deeply trusted by his boss. He may be one of the few outliers in the NBA who can turn the team as a small shareholder and hold power for decades.

Of course, there was a team general manager in the early NBA who had a sense of presence overwhelming the boss. He didn't even have the team's equity, but it didn't hinder his team's management from the boss to obey his own words. He was the "Cardinal" Auerbach. He was originally the head coach of the Celtics. After leading the Celtics to complete eight consecutive championships, he chose to transform into the team's general manager in 1966. One of the reasons for his transformation to become a general manager was that the team's meritorious boss Walter Brown died of illness in 1964, which caused the team's overall management level to decline. Therefore, the new boss appointed Auerbach as general manager and was fully responsible for the team's daily management.

Aulbach not only allowed the team to win two more championships under the leadership of coach and player Bill Russell, but also in the draft, he also chose Dave Coins and Larry Bird, two white players who were not fast and could not jump high. The former helped the Celtics win two championships in the 1970s, and the latter led the Celtics to win three championships in the 1980s. During his tenure as general manager, Auerbach not only helped the Celtics win seven championships, but also the scene of him holding a victory cigar in his hands was deeply rooted in the hearts of the people. He became a symbol of the Celtics. Everyone only remembers the scene of Auerbach holding a cigar in his hands after winning the championship, and the light of the Celtic boss was even blocked by him.

After looking at the above cases, how long do you think Jenny Buss and Lakers' new boss Mark Walter can coexist in a friendly manner? Will she be like Cuban and Colangelo in the future and then step aside after a year or two, or will she have management rights in the team like Riley?