The Los Angeles Lakers are on the verge of having a new minority owner.
Billionaire Philip Anschutz has reportedly struck a deal to sell his 27% minority stake in the Lakers to Los Angeles Dodgers owners Mark Walter and Todd Boehly, according to Scott Soshnick of Sportico. The sale was reportedly not approved by the NBA board of governors.
The price of the transaction is also unknown. however, Forbes estimated the Lakers at $ 4.6 billion this year.
Anschutz, the founder of the owner of Staples Center AEG, had the second largest stake in the team behind the 66% of the Buss family. Despite selling his stake, Lakers president of business operations Tim Harris told Sportico he doesn’t see the team breaking their lease at Staples Center, which does not expire until 2041.
The Lakers will soon be the only NBA team to call the Staples Center as the Clippers are on track to relocate to their new arena in Inglewood in 2024.
The Lakers are set for some big changes this offseason after a disappointing playoff loss to the Phoenix Suns in the first round. It is not known if these changes played a role in Anschutz’s decision to sell his stake in the team.