The Los Angeles Lakers are first and foremost owned and operated by the Buss Family Trust, which is what puts Jeanie Buss at the helm of all major decisions made within the franchise. However, the Buss family does not own 100% of the team. They own 66%, with the second-largest stake belonging to Philip Anschultz, who is a billionaire and the founder of AEG.
Recently, Anschultz had been looking to sell his 27% stake. His reasons are unknown, but it could simply be a financial decision with the franchise reaching its all-time high in value. The Lakers were valued at $4.6 billion earlier in 2021 by Forbes.
Now, Anschultz has found buyers, with L.A. Dodgers part-owners Mark Walter and Todd Boehly of the Guggenheim Partners agreeing to join the Lakers ownership team, according to Scott Soshnick of Sportico:
Los Angeles Dodgers owners Mark Walter and Todd Boehly are purchasing the minority stake of the Los Angeles Lakers being sold by billionaire Philip Anschultz, according to five people with direct knowledge of the matter.
The transaction values the Lakers at about $5 billion, according to two of the people, who were granted anonymity because the matter is private. Sportico last night reported that Anschutz, founder of entertainment giant AEG, was selling his 27% stake in the storied basketball franchise. The Lakers are held by Anschutz personally and are not part of AEG’s holdings.
While no official details of the transaction were disclosed, it can be estimated from the stated facts that the purchase was for about $1.3 billion. Walter and Boehly are a part of Magic Johnson’s ownership team that bought the Dodgers in 2012.
Those two now have their hands in the two most popular L.A. sports franchises, and two of the most valuable professional sports teams in the entire world. Since 2012, the Dodgers have missed the playoffs just once — in 2012 — and have been to five National League Championship Series. They’ve been to the World Series three times and won once in 2020.
Jason Kidd hired by Mavericks
The Lakers — and their new owners — will have some decisions to make. Beyond a significant number of free agents, the Lakers also may have to fix their coaching staff, as Jason Kidd was hired to be the head coach of the Dallas Mavericks.
Not only that, he may look to the Lakers staff to fill out his bench. It’s possible that the team will have multiple open coaching spots ahead of a pivotal 2021-22 season.
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