A few words about Jerry Buss

I never met Dr. Jerry Buss, longtime owner of the Los Angeles Lakers. But like so many other people I can recall, the connection we share is the friendship and business relationship both of us had with Bill Daniels. Jerry Buss passed away on Monday, February 18, 2013 at the age of 80. His life spanned just a few months past the age Bill was when he died. The two men were business partners, sports fanatics, and friends…probably in that order. That’s not to say their friendship wasn’t strong; it’s just that to guys like these — true giants of business — their deals and partnerships often expressed their mutual trust and respect better than anything.

Jerry and Bill were business partners in multiple ventures, but most notably the L.A. Lakers and Prime Ticket Sports Network. Bill Daniels is recognized as the real momentum behind the proliferation of regional sports networks that bring local sports to local television viewers. While the details are more complex and lengthy than I can cover here, Jerry and Bill each had parts of the recipe for building a blockbuster regional sports network in southern California. Bill owned cable infrastructure with decades of expertise managing cable systems. Plus, he had already found success with regional sports networks in markets such as Denver and Houston. Jerry owned two red-hot teams: basketball’s Lakers and hockey’s L.A. Kings. He also owned a perfect venue from which to broadcast games played by these teams, as well as events of every kind — The Forum.

L.A. Lakers co-owners

Magic Johnson, Bill Daniels,

and Jerry Buss at The Forum

Los Angeles, 1986

Cash was invested, shares were granted, and in the end, Bill owned part of the Lakers, Jerry part of Prime Ticket.

There is no such thing as the perfect partnership, but this one was as close as anyone can hope for. As two guys that had won and lost betting big on business ventures over the years, Bill and Jerry had no doubt this one was a winner. They formed a partnership that among other things, granted Prime Ticket broadcast rights to Lakers and Kings games played at The Forum, offered to a sports-crazed, densely-populated, growing urban market. With just about the highest cable subscriber penetration numbers in the country. When they sold their network just a few years later, the return was, let’s just say, significant. Bill’s personal gain was roughly $190 million.

I can’t comment on Dr. Buss’ personal management style or the qualities that made him so successful. But I have read Bill Daniels’ extensive correspondence regarding their business dealings over the years. Bill was always comfortable with Jerry, rightly convinced that in Jerry, he had a solid, ethical partner who would be fair when things were smooth and equally fair when they were not. Bill would credit Jerry with making him a lot of money. Jerry would say the same about Bill. Bill also said Jerry was a quality man who knew what it took to build something from nothing and to maintain it once it was built. Bill’s partnership with Jerry made a difference, employed hundreds, and brought innovative products to people that wanted them. It also made Bill happy that he and Jerry had worked together in these efforts. And that’s good enough for me.

Jerry Buss will be missed. Like Bill, he was one of the good ones.