News Our Way

Los Angeles Lakers Owner Jerry Buss Attempted To Buy The Dallas Cowboys Back In 1989

The owner of the Los Angeles Lakers, Jerry Buss, was looking to purchase the Dallas Cowboys in 1989, according to Los Angeles Times.

Jack Veatch, Dallas Managing Director of Salomon Bros, who helps identify potential buyers, said that H. R. (Bum) Bright received four written submissions for the team and the Texas Stadium lease.

Those known for making offers are Cowboys minority owner Ed Smith Jr. and Dallas Mavericks owner Donald Carter, current Dallas Cowboys owner Jerry Jones, the president of Arkoma Exploration in Little Rock, Ark, Jerry Buss, and a Japanese businessman. 

“I have been led to believe that Dr. Buss will have the strongest offer of those made so far,” said Veatch, who added that a new owner should be in place before the 1989 season.

Per the Los Angeles Times, Bright reportedly requested $180 million—$100 million for the team, $60 million for the stadium lease, and an additional $20 million to settle the team’s debt and deferred compensation.

In Hulu’s 10-part docuseries “Legacy: The True Story of the LA Lakers, episode four, it featured Buss’s attempt to buy American’s team.

” I would definitely like to own a football franchise,” said Buss.

Unfortunately for Buss it wasn’t meant to be because there was a leak in the news that he was trying to buy the team. The media in Dallas focused in on his playboy lifestyle.

“Him being a playboy cost him the Cowboys, the most incredible disappointment of his career,” said Johnny Buss.

Bright would sale the Cowboys Jerry Jones for $140 million on Feb. 25, 1989, according to ESPN.

“It was quite a trying time for me. I get emotional talking about it. I’ve asked why I get emotional talking about it in public or in private and asked a professional about it and [the professional] basically said it was a traumatic time for you. I don’t know. There was a pretty serious reach there, risk wise, and I didn’t know how it was going to turn out. I thought I had an idea, so it was a nervous time for me. I remember that. I developed an arrhythmia during that time and I never had an unhealthy day in my life. An arrhythmia is called a ‘good time heart,’ by a lot of people and a lot of medical students get it. It was from not resting, never sleeping and then getting up just right when you lay your head down. That kind of describes me from that period of time. It was a time I felt very off-balance. I didn’t know it but I quickly found out the visibility that was involved there. I never forget my dad called me about 10 days, two weeks into this thing and I had no idea this thing would have the visibility it’s got and he said, ‘I don’t care. You’re a young guy,’ — I was 46, 45 — ‘whether you do it by mirrors or smoke or what, if you’re not successful, you’ve got to make it look successful or you’ll be known as a loser and you won’t be able to do anything else for the rest of your life in terms of getting people to go along with you.’ So those were the things that I remember the most about those times.”

ESPN

The Dallas Cowboys are back at the top of Forbes magazine‘s list of the NFL’s most valuable team. It is also the first NFL team to exceed $8 billion.

During a recent appearance on First Take, Jones revealed that he had to buy part of the team from the US government.

“When I first got the Cowboys, they were losing a hundred thousand a day. I had to buy part of them from the government. They had been foreclosed on.”

%d bloggers like this: