Jack Kent Cooke Lakers: The Unexpected Sale That Changed Everything

The story of the Los Angeles Lakers is, in a way, a tale of two eras, and the pivotal moment separating them involves a man named Jack Kent Cooke. He was a truly grand figure, a sports owner unlike any other Los Angeles had ever known, or perhaps ever will know. His time with the Lakers, you know, really set the stage for what came next, even though his departure was quite sudden for many.

When we think about the Lakers' history, many minds jump straight to the "Showtime" years, the glitz, the championships, and the iconic leadership of Jerry Buss. But before Buss took the reins, there was Jack Kent Cooke, a titan who shaped the very foundation of the franchise, giving it a home and a winning spirit. His ownership, in some respects, was truly a show for the world to see.

Yet, the reason for his eventual sale of the purple and gold in 1979 is a bit less about basketball and more about personal finance. It was, as a matter of fact, the fallout from what was, at that time, the most expensive divorce settlement anyone had seen. This event, so it seems, forced a change that would completely transform the team's path.

Table of Contents

• Jack Kent Cooke: A Life in Sports and Business
• Cooke's Impact on the Los Angeles Lakers
• The Fabulous Forum and a Championship Season
• The Unexpected Sale: The Divorce Settlement
• Jerry Buss Steps In: A New Era Begins
• Frequently Asked Questions About Jack Kent Cooke and the Lakers

Jack Kent Cooke: A Life in Sports and Business

Jack Kent Cooke was a truly fascinating person, someone who built an empire from very humble beginnings. He was, you know, a Canadian businessman who came to the United States and really made his mark across several major industries. His story is one of big dreams and even bigger achievements, setting him apart as a media mogul.

His journey into the world of sports ownership started quite early in his American life. In 1960, he moved south of the border after acquiring the Washington Redskins football team for what was, at the time, a significant sum of $300,000. That purchase, honestly, was just the beginning of his deep involvement in professional athletics.

Cooke was more than just a name you'd hear in sports circles; he was, in a way, a genuine titan. He really reshaped the way professional basketball was seen, and that's just one example. His influence was felt across multiple leagues, making him a very powerful figure in sports.

He had a knack for spotting opportunities and, as a matter of fact, building them up. He managed to build a $40 million cable TV empire, which is quite impressive. This financial strength allowed him to buy not only the NBA's Los Angeles Lakers but also the NFL's Washington Redskins, showing his broad interests.

Personal Details and Bio Data of Jack Kent Cooke

Beyond the Lakers, Jack Kent Cooke's list of sports team ownership was quite extensive, really showing his love for competition. He was the owner of the Washington Redskins in the NFL, which he held onto for a long time. He also owned the Los Angeles Kings in the NHL, bringing hockey to the city.

Furthermore, he ventured into soccer with the Los Angeles Wolves, a United Soccer team. And, you know, he even had a connection to the Toronto Maple Leafs, further cementing his broad presence in professional sports. He was, in a way, a true multi-sport proprietor.

His vision extended beyond just owning teams; he also had a passion for creating the places where these teams would play. He developed the Forum in Inglewood, California, which became the iconic home for his Lakers and Kings. This building, actually, was a landmark in itself.

He also had a hand in building Jack Kent Cooke Stadium, which is now known as FedExField, in Landover, Maryland. These projects, you know, really showed his commitment to providing top-notch facilities for his franchises and their fans. He was, essentially, a builder in many ways.

Cooke's Impact on the Los Angeles Lakers

Jack Kent Cooke's time as the owner of the Los Angeles Lakers began in 1965, when he purchased the team from Bob Short and Frank Ryan. From that very moment, you could say, the grandiloquent and pompous Cooke made sure everyone knew he was in charge. He, you know, put on quite a show for the world to see.

Under his leadership, the Lakers were, in fact, one of the best teams in the league. They consistently competed at a very high level, always striving for greatness. He had a clear vision for what a top-tier basketball team should be, and he worked to make it happen.

His approach to ownership was very hands-on, and he was known for his strong opinions and commanding presence. He was, you know, a character, someone who didn't shy away from the spotlight. This made him a memorable figure for fans and players alike, really.

He brought a certain flair to the team, a sense of importance that matched the city of Los Angeles itself. The Lakers, under his care, weren't just a basketball team; they were, in some respects, a major entertainment entity. This was, as a matter of fact, quite groundbreaking for the time.

He understood the importance of a strong team identity and, you know, a winning culture. His influence helped shape the Lakers into a franchise that was always expected to contend for championships. That expectation, actually, has carried on for decades.

The Fabulous Forum and a Championship Season

One of Jack Kent Cooke's most lasting contributions to the Lakers, and to Los Angeles sports generally, was the creation of the "Fabulous Forum." This arena, you know, was his brainchild, a place he designed to be a premier venue for basketball, hockey, and other events. It was, in a way, a reflection of his own grand personality.

The Forum became the iconic home of the Lakers, a place where many historic moments unfolded. It was a state-of-the-art facility for its time, offering a fantastic experience for fans. This building, frankly, gave the Lakers a true sense of belonging in Southern California.

Under his ownership, the Lakers achieved their first National Basketball Association championship in his "fabulous forum" in 1972. This was a truly momentous occasion for the franchise and its fans. It was, you know, a culmination of years of effort and investment.

That 1972 team, actually, was legendary, featuring some of the greatest players in the game's history. Winning that championship, you know, solidified Cooke's legacy as a successful sports owner. He had, essentially, delivered on his promise of a winning team.

The championship was a huge deal for the city, too, representing a major achievement in professional sports. It showed that Cooke's vision for the Lakers, as a dominant force, was very much achievable. He was, in a way, someone who made things happen.

The Unexpected Sale: The Divorce Settlement

For all his success and passion for sports, Jack Kent Cooke's ownership of the Lakers came to an unexpected end in 1979. The answer to why he sold the team lies in a very complex personal history, involving what was, at the time, a truly record-breaking event. This was, you know, a situation that had massive financial implications.

When Jack Kent Cooke sold the Lakers in 1979, it wasn't just a business decision made for strategic reasons. It was, as a matter of fact, the financial fallout from what became the most expensive divorce settlement in history at that point. This personal event, you see, directly forced his hand.

He was, in a way, compelled to offer the LA Lakers to businessman Jerry Buss. This wasn't a sale he necessarily sought out for profit alone; it was, quite literally, a forced transaction to meet the demands of his divorce. The scale of that settlement, honestly, was enormous.

The financial demands were so substantial that even a wealthy individual like Cooke, who owned multiple teams and a cable TV empire, found himself in a position where he had to sell off significant assets. It was, you know, a clear example of how personal circumstances can deeply affect major business holdings.

The details of the divorce settlement required a massive amount of liquid assets, and selling the Lakers, along with other properties, became a necessary step. It's almost as if he had no other practical choice given the circumstances. This situation, in fact, changed the course of Lakers history forever.

If you wish to learn more about Cooke's decision to sell the NBA outfit and the specific reasons behind it, the divorce settlement is, you know, the central piece of the puzzle. It was a very public and costly affair that reshaped his financial landscape and, consequently, the ownership of his beloved basketball team.

The amount of money involved in the settlement was so large that it necessitated the sale of a truly valuable asset like the Lakers. It showed, in a way, just how impactful personal legal battles can be on even the biggest business figures. He was, essentially, put in a very difficult spot.

Jerry Buss Steps In: A New Era Begins

With Jack Kent Cooke needing to sell, Jerry Buss, a savvy businessman, entered the picture. Buss's real estate expertise, you know, helped him seal the deal to acquire the properties from Jack Kent Cooke in 1979. This was a very complex transaction, involving more than just the basketball team.

New York City's Chrysler Building, for instance, figured in the mix of properties exchanged in the deal. This shows that the transaction was not a simple cash sale but a large-scale exchange of assets. It was, in some respects, a very clever way for Buss to acquire the team.

Buss's ownership of the purple and gold completely transformed the franchise. He brought a new vision, a different style of leadership, and a focus on entertainment that would define the "Showtime" era. This transition, you know, marked a truly new chapter for the Lakers.

While Cooke had built a winning team and a grand arena, Buss took the franchise to unprecedented heights of popularity and success. It's almost as if he built upon the strong foundation Cooke had laid, adding his own unique sparkle. The team's identity, actually, shifted quite a bit.

The sale from Cooke to Buss is, in a way, one of the most significant moments in NBA history. It set the stage for the Lakers to become a global brand, synonymous with championships and star power. This moment, you know, truly changed everything for the team.

The story of the Jack Kent Cooke Lakers, then, is a tale of a remarkable owner who built a powerhouse, only to have his personal life force a sale that would usher in another legendary era. It's a reminder that even the biggest figures can be influenced by circumstances beyond their control. For more details on this pivotal moment, you can look up articles about the historic sale on reputable sports history sites, which often discuss the financial aspects of the deal. Learn more about the Lakers' history on our site, and also explore more about the team's iconic players here.

Frequently Asked Questions About Jack Kent Cooke and the Lakers

Here are some common questions people often have about Jack Kent Cooke's time with the Lakers and his eventual departure.

Why did Jack Kent Cooke sell the Lakers?

Jack Kent Cooke was forced to sell the Los Angeles Lakers in 1979 due to the financial demands of his divorce settlement. It was, in a way, the most expensive divorce settlement at that time, requiring him to sell significant assets to meet the financial obligations. This was, you know, the primary reason for his decision to sell the team.

Who owned the Lakers before Jerry Buss?

Before Jerry Buss purchased the Lakers in 1979, the team was owned by Jack Kent Cooke. Cooke, a Canadian businessman, had owned the Lakers since 1965, and he was, in fact, a pivotal figure in the team's early success in Los Angeles. He was, essentially, the owner who brought them their first championship.

What other teams did Jack Kent Cooke own?

Jack Kent Cooke owned several other major sports teams besides the Los Angeles Lakers. He was the owner of the Washington Redskins in the NFL, the Los Angeles Kings in the NHL, and the Los Angeles Wolves in United Soccer. He also had connections to the Toronto Maple Leafs, showing his broad involvement in various professional sports leagues. He was, you know, a very active owner across different sports.