LOS ANGELES (AP) — Philip Anschutz sold his 27% minority interest in the Los Angeles Lakers to Los Angeles Dodgers co-owners Mark Walter and Todd Boehly in a deal that closed Friday.
The transaction was approved by the NBA’s Board of Governors, according to AEG.
“We remain strongly invested in the franchise’s long-term success,” Dan Beckerman, president and CEO of AEG, said in a statement. “We are confident that with Jeanie (Buss) as the team’s controlling owner, 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.”
Anschutz-owned AEG and the Lakers recently announced a 20-year extension to the team's lease at Staples Center. It includes both sides investing in upgrades and improvements to the downtown Los Angeles arena, which the Lakers will continue to call home through 2041.