Philip Anschutz has agreed to sell his 27% stake in the Lakers, Dan Woike of the Los Angeles Times confirms. Anschutz is the founder of AEG and owns the team’s arena, the Staples Center. Dodgers owners Mark Walter and Todd Boehly are making the purchase and the transaction values the Lakers at about $5 billion, Scott Soshnick of Sportico reports.
The sale of Anschutz’s stake in the Lakers, which is the largest outside of the Buss family, has to be approved by the league’s Board of Governors. Anschutz also owns of the NHL’s Kings and the MLS’ Galaxy. A major long term question is whether Anschutz’s first right to purchase, should the Buss family ever want to sell its majority stake, will transfer to the two buyers, Ramona Shelburne of ESPN tweets.
According to the Sportico report, the buyers will get those transfer rights.
We have more from the Pacific Division:
- Frank Vogel is entering the final year of his three-year contract with the Lakers and some members of the organization are surprised he hasn’t already received an extension, according to Kyle Goon of the Orange County Register. Vogel could also face numerous staff changes since Jason Kidd, who has agreed to be the head coach of the Mavericks, could take several assistants with him to Dallas, Goon adds.
- Kawhi Leonard has not appeared in the Western Conference Finals and will miss Game 4 on Saturday due to a knee injury, but he’s been a major presence off the court, Kurt Helin of NBC Sports notes. Leonard and another injured Clippers player, Serge Ibaka, have been dispensing advice during games and practices. “Kawhi and Serge both have been great… Kawhi is just more, you know, everything: offense, defense, moving the basketball, how we can attack certain matchups, defensively how we can do different things on certain players,” Clippers coach Tyronn Lue said. “So, he’s always engaged on both ends.”
- Marvin Bagley III‘s future with the Kings remains up in the air and he’s facing a social media backlash from Sacramento fans, according to James Ham of NBC Sports Bay Area. Bagley liked a tweet that stated, “We’ve got to get @MB3Five outta Sac man.” After a negative reaction from fans, Bagley removed any mention of the Kings from his bio on both Twitter and Instagram. Sacramento has already picked up Bagley’s $11.3MM option for next season but he’ll be eligible for free agency next summer.
The NBA needs to get Sac out of the league entirely. Worst franchise in the big 4 pro sports by miles. The fact that they refuse to understand how to build a winner just adds to their total and complete irrelevance.
Should Laker rebuild after 2022 offseason?
Do you really believe Lakers are playoffs lock next season? If not, Lakers may not give Frank big contract
I am concerned about Davis injury history
Sac doesn’t need to leave the league, but a sale of the franchise and move to say somewhere like Seattle or Vegas would definitely be a fresh start they could use.
I get that Sac is the Capital of California and all, but it is the only major sports team there, and doesn’t draw anywhere close to the same coverage that the LA teams and Warriors do. Having a team in a state without one currently would be better use of the franchise.
That said, I know that’s easier said than done, and I am sure the NBA would prefer the expansion fees instead of a team moving.
So how does where a team resides effect the front office? It doesn’t. They also have a new stadium with a long lease so they are not moving any time soon. Their problem starts with their front office and ends with the front office.
It starts with ownership. Vivek has not done a very good job since taking over.
In SAC it does. Their FO is steeped in silicon valley tech culture and not in sports. Read about the guy who embezzled millions. Not a good scene.
Agree 1000% with Greg1
Lakers will not compete for a championship unless LeGone retires to Hollywood and frees up some cap space. He ain’t the same guy!
U should try watching basketball sometime
Been watching basketball since 86. What about you son?
That’s why Anschutz is making the smart business decision by selling high.
I called Phil to check up on the truth to this story
ANSCHUTZ:
states:
“I Hear Nothing!”
“I See Nothing!”
“I Say Nothing!”
and most of all
“I Know Nothing!”
I would take Bagley. Still believe in him. Sac is a Mess.
No kings don’t need to move the team , honestly wth are you guys talking about ???? Really Sacramento fans are the loyalist fans and some of the best fans in the league. Is it our fault that’s the franchise hasn’t done anything great in the last 20 years , hell no. Just look at are draft the last 10 years , our gm and front office has been shit. I don’t get why the hell you’d think the team needs to move seriously.
Sacramento has the most consecutive sell out streak in the NBA for many many years ,and our attendance has been in the top 15 the last 10 years, but since the team has been so bad let’s move them , no we need a stable gm front office coach’s etc not move the team , lol get your facts straight before you say the team must move .