LOS ANGELES – Philip Anschutz sold his 27% minority stake in the Los Angeles Lakers to Los Angeles Dodgers co-owners Mark Walter and Todd Boehly in a deal that closed on Friday.
The transaction was approved by the NBA’s Board of Governors, according to AEG.
“We remain heavily invested in the long-term success of the franchise,” said Dan Beckerman, AEG president and CEO, in a statement. “We are confident that with Jeanie (Buss) as majority owner of the team, the Lakers will continue to be the gold standard in the NBA. Mark Walter and Todd Boehly are great additions to the ownership group, and we look forward to partnering with them for many years to come for come “.
Anschutz-owned AEG and the Lakers recently announced a 20-year extension to the team’s lease at Staples Center. It includes both parties investing in improvements and upgrades to the downtown Los Angeles stadium, which the Lakers will continue to call home until 2041.
Boehly will join the Lakers board of directors, representing the interests of both Walter and himself.
Walter is the co-founder and CEO of Guggenheim Partners, a privately owned global financial services company, and is president of the Dodgers.
“The Los Angeles Lakers are one of the most successful and admired franchises in the history of the sport,” said Walter. “I have watched the organization grow under Jeanie’s leadership and I couldn’t be more excited to partner with her and the entire management team.”
Boehly is the co-founder, president, and CEO of Eldridge, a holding company that invests in sports and gaming, media and real estate businesses. He is a co-owner of the Dodgers.