The Los Angeles Lakers are about to have a new minority owner.
Billionaire Philip Anschutz has reportedly reached an agreement to sell his 27 percent minority stake in the Lakers to Los Angeles Dodgers owners Mark Walter and Todd Boehly, according to Sportico's Scott Soshnick. The sale reportedly has not been approved by the NBA Board of Governors.
The price of the deal is also unknown. However, Forbes estimated the Lakers to be worth $4.6 billion this year.
Anschutz, the founder of Staples Center owner AEG, had the second-largest stake in the team behind the Buss family's 66%. Although he's selling his stake, Lakers president of business operations Tim Harris told Sportico he doesn't see the team breaking its lease at Staples Center, which doesn't expire until 2041.
The Lakers will soon be the only NBA team to call the Staples Center home as the Clippers are on track to move to their new arena in Inglewood in 2024.
The Lakers are in for some extensive changes this offseason after a disappointing playoff loss to the Phoenix Suns in the first round. It's unclear if those changes played a role in Anschutz's decision to sell his stake in the team.