AEG and the Los Angeles Lakers announced that Phil Anschutz’s 27% minority ownership stake in the team has officially been sold to L.A. Dodgers owners Mark Walter and Todd Boehly after the NBA’s Board of Governors approved the transaction.
As a part of the deal, Boehly will be joining the Lakers Board of Directors, representing both his and Walter’s interests.
“Since we first acquired the interest in the Lakers 25 years ago, the Buss family and the entire Lakers organization have been true partners in every way, and we couldn’t be more appreciative,” said Dan Beckerman, President and CEO of AEG. “Our relationship with the Lakers has always been and will continue to be important to AEG. We share a vision and commitment to delivering the best experiences to Lakers fans, and we remain strongly invested in the franchise’s long-term success. We are confident that with Jeanie 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.”
Walter, who is the Co-founder and CEO of Guggenheim Partners, first purchased the Dodgers in 2012 and turned them into the biggest financial powerhouse in baseball. He expressed excitement to be on board with the Lakers now.
“The Los Angeles Lakers are one of the most successful and admired franchises in sports history,” said Walter. “I have watched the organization grow under Jeanie’s leadership and couldn’t be more excited to partner with her and the entire management team. I am committed to supporting the franchise’s iconic status by continuing to bring together culture, community and entertainment to Lakers’ fans.”
Boehly is the Co-founder, Chairman and CEO of Eldridge, bringing even more experience and financial power to the Lakers.
“The Los Angeles Lakers have built and sustained a championship culture that has inspired fans around the world,” said Boehly. “Mark and I know first-hand the commitment and energy required to achieve such success both throughout the organization, and vitally, from the fans across the great City of Los Angeles. I am thrilled to join the Lakers ownership group, supporting Jeanie and the organization’s vision, as the franchise builds on its storied history and commitment to community.”
Lakers maintain relationship AEG through Staples Center
Even though AEG and Anschutz no longer own the Lakers, the organization will maintain a strong relationship with the company as they own the Staples Center. The Lakers recently signed a 20-year lease to remain there through 2041.
“For more than two decades, AEG and Phil Anschutz have been incredibly supportive partners, and this transaction is additive as we are welcoming two new visionary and respected leaders in the sports and business sectors,” said Tim Harris, President of Business Operations for the Los Angeles Lakers and Alternate Governor. “Our long-standing relationship with AEG will not change, and we look forward to another 20-plus years of our great partnership. We welcome Mark and Todd with open arms as we continue along our journey.”
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