clock menu more-arrow no yes

Filed under:

Dodgers co-owners Mark Walter & Todd Boehly to buy minority Lakers stake, per reports

New, 1 comment
2012 Billboard Music Awards - Red Carpet Photo by Kevin Mazur/WireImage

A pair of Dodgers co-owners are reportedly buying into the Lakers. Team chairman and controlling owner Mark Walter, as well as co-owner Todd Boehly, are purchasing 27 percent of the Lakers, per Scott Soshnick of Sportico.

This is the share of the team owned by Philip Anschutz, billionaire head of AEG, which owns Staples Center. Dan Woike of the Los Angeles Times confirmed that Anschutz was selling his ownership stake in the team.

Per Soshnick, “The transaction values the Lakers at about $5 billion, according to two of the people, who were granted anonymity because the matter is private,” which would mean the minority stake was sold for roughly $1.35 billion.

The deal, if completed, would need to be approved by the NBA board of governors.

The Buss family owns a majority of the Lakers, with Jeanie Buss the team president and controlling owner. But should the family decide to sell, the right of first refusal would give Walter and Boehly the first chance to buy and gain controlling ownership.

Jerry Buss bought the Lakers and The Forum from Jack Kent Cooke in 1979, and owned the team until his death in 2013. That’s when Jeanie Buss took over. Her brothers Jim and Johnny Buss tried to oust Jeanie from the Lakers board of directors in 2017, but a temporary restraining order thwarted the brothers’ attempt, which was later withdrawn.

Walter and Boehly have been a part of Guggenheim Baseball Management group that purchased the Dodgers in 2012 for a then-record $2.15 billion, a sale price that included Dodger Stadium and the land surrounding it. Boehly’s exact stake in the Dodgers is unknown, but Barron’s reported it in 2019 as 20 percent of the team.

Walter and Boehly, along with several other Dodgers co-owners including Magic Johnson, also purchased the Los Angeles Sparks in 2014.

In March, Forbes valued the Dodgers at $3.57 billion, second in MLB only to the Yankees. Sportico has the Lakers valued at $5.14 billion, the third-highest in the NBA, behind the Knicks and Warriors.