NBA rumors: Dodgers co-owners officially buy minority stake in Lakers
Los Angeles Dodgers co-owners Mark Walter and Todd Boehly were reported last month to buy a 27% stake in the Lakers from Philip Anschutz, the world’s 224th richest person and billionaire. at the head of AEG, the company that owns and operates Staples Center.
That sale was over on Friday, according to Randall Williams of Sportico (the outlet that broke virtually all the stories on this topic):
LA Dodgers co-owners Walter and Boehly concluded the purchase of billionaire Philip Anschutz’s stake on Friday. The sale of the minority stake, which values the Lakers at around $ 5 billion, was first reported through Sportico last month, and the NBA board of governors unanimously approved the agreement.
As part of the deal, Boehly will join the Lakers board to represent his interests and those of Walter. The Lakers are controlled by Jeanie Buss, whose late father Jerry bought the team in 1979. Participation includes the right of first refusal on any other Lakers stock that may come to market, putting Walter and Boehly in a position of control the team if the Buss the family decides to sell.
This last part is by far the most important part of this agreement. While there has been no sign that the Buss family would like to sell – a sale all Buss siblings should accept, as their 66% ownership of the team is in a trust that cannot be divided in pieces – if they wish. at this point, Boehly and Walter would have the first chance to buy the Lakers. Considering how much they spent for free trying to help the Dodgers win, that’s a good thing.
Although, given the value of the Lakers and the number of extremely wealthy people who would line up to buy them if they were put up for sale, it’s also hard to believe that they would be bought by someone who didn’t. was not going to spend to win anyway. Still, having a few guys who have already proven they will in the fold is great news for fans of the small business.
For now, Anschutz’s involvement with the team is not over. The Lakers just extended their lease at Staples Center until 2041. So even though AEG won’t own any part of the organization, their decades-long business relationship will continue. In short, this sale doesn’t mean much unless the Buss Trust decides to sell, but in the short term, more ties between the two favorite Los Angeles sports teams can’t be a bad thing.
For more Lakers talk, subscribe to the Silver Screen and Roll podcast feed on itunes, Spotify, Stapler or Google Podcasts. You can follow Harrison on Twitter at @hmfaigen.