LOS ANGELES - JUNE 14: Los Angeles Lakers Owner Jerry Buss and the Los Angeles Lakers celebrate in the locker room after winning the 1987 NBA Finals against the Boston Celtics on June 14, 1987 in Los Angeles, California. Lakers 106 vs Celtics 93. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 1987 NBAE (Photo by Andrew D. Bernstein/NBAE via Getty Images)
Dr. Jerry Buss (January 27, 1933 – February 18, 2013) was an American businessman, investor, chemist and philanthropist….who was the majority owner of the Los Angeles Lakers professional basketball team in the National Basketball Association (NBA)….while winning 10 league championships that were highlighted by the team’s Showtime era during the 1980’s. He is a member of the Naismith Memorial Basketball Hall of Fame as a contributor.
He purchased the Los Angeles Lakers of the NBA…along with the Los Angeles Kings hockey team of the NHL….and The Forum….all for a then-record combined $67.5 million for those three properties….plus a large ranch from Jack Kent Cooke in 1979.
Buss later sold his controlling interest in the Kings to Bruce McNall in 1988….who made headlines that year by trading for Wayne Gretzky from the Edmonton Oilers….but retained his ownership of the Lakers and The Forum. He then reached a major advertising agreement with Great Western Bank for the naming rights to The Forum….resulting in the official name of the building being changed to the Great Western Forum.
The Lakers were very successful under Buss’ ownership….while winning ten NBA championships with such players as Kareem Abdul-Jabbar, Magic Johnson, James Worthy, Shaquille O’Neal, Kobe Bryant and Pau Gasol….along with coaching legends Pat Riley and Phil Jackson. He inspired the Lakers’ Showtime era with his vision that basketball games must be entertaining.
David Joel Stern (born September 22, 1942) is an American businessman and lawyer….who served as the 4th commissioner of the National Basketball Association….as he started with the Association in 1966 as an outside counsel….then joined the NBA in 1978 as General Counsel….and became the league’s Executive Vice President in 1980….while becoming the Commissioner in 1984….after succeeding Larry O’Brien. He is credited with increasing the popularity of the NBA in the 1990’s and 2000’s.
On October 25, 2012, Stern announced that he would step down as NBA commissioner on February 1, 2014….which was 30 years to the day after beginning his tenure as commissioner…..when his deputy, Adam Silver, became his successor. At the time of his departure, he was the NBA’s longest-serving commissioner. Stern received the Olympic Order in 2012…..and on February 14, 2014, the Naismith Memorial Basketball Hall of Fame announced that Stern would be a member of its 2014 induction class. In 2016, he became a member of the FIBA Hall of Fame. This video features CBS Sports Brent Musburger presiding over the NBA championship trophy presentation…..as Commissioner David Stern give the Bill Russell trophy to Lakers’ owner Dr. Jerry Buss.
