Los Angeles Dodgers owners Mark Walter and Todd Boehly are purchasing the minority stake of the Los Angeles Lakers being sold by billionaire Philip Anschutz, 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.
Anschutz’s stake comes with the right of first refusal to buy any additional shares that come to market. That right will transfer to Boehly and Walter, according to one of the people. The deal, which may close in early July, requires approval from the NBA Board of Governors.
Boehly couldn’t immediately be reached for comment. An AEG spokesman couldn’t be immediately reached outside of business hours.
The Lakers were valued at $5.14 billion in Sportico’s most recent valuations, the third-highest total in the NBA behind the Knicks ($5.42 billion) and Warriors ($5.21 billion).