Although basketball was Jerry Buss' true love, the late Lakers owner was also a passionate poker player.
The guaranteed prize for the tournament is $20,000.
The entry fee is a $365 buy-in, with 25% of the tournament's prize pool donated to the Los Angeles Lakers Youth Foundation, which focuses "on the use of sports to promote education, teamwork and self-esteem among Los Angeles area youth."
All players who reach the final table will receive a "limited framed Jerry Buss/Frank Mariani chip set."
Mariani was a long-time business partner and close friend of Buss.