Philip Anschutz sold his 27% minority stake in the Los Angeles Lakers to Mark Walter and Todd Boley Malkin Dodgers in a deal on Friday.
The deal was approved by the NBA’s Board of Governors, according to AEG.
“We remain strongly invested in the franchise’s long-term success,” said Dan Beckerman, president and CEO of AEG, in a statement.
“We are confident that with Jenny (Boss) as the controlling owner of the team, the Lakers will continue to be the gold standard in the NBA. Mark Walter and Todd Boehle are wonderful additions to the ownership group, and we look forward to partnering with them for many years to come.”
Anschutz, AEG, recently announced a 20-year lease extension for the team at Staples Center with the Lakers.
Both sides include investing in upgrades and improvements to the downtown Los Angeles arena, which the Lakers will continue to call home through 2041.
Boehly will join the Lakers board, representing Walter and himself.
Walter is the co-founder and CEO of Guggenheim Partners, a privately owned global financial services company, and the Chairman of the Board of Directors of Dodgers Corporation.
“The Los Angeles Lakers are one of the most successful and admired teams in the history of the sport,” Walter said.
“I’ve watched the organization grow under Jenny’s leadership and I couldn’t be more excited to be involved with her and the entire management team.”
Boehly is the co-founder, chairman, and CEO of Eldridge, a holding company that invests in businesses that include sports, gaming, media and real estate.