spot_img
spot_img

NBA: Philip Anschutz set to sell stake in Los Angeles Lakers

Billionaire Philip Anshutz has reportedly decided to cash in on 27 percent stake that he owns in NBA’s Los Angeles Lakers.

An ownership change is set to be witnessed in NBA as billionaire Philip Anschutz has agreed to sell his stake in the franchise, reports Sportico.  Anschutz owns a 27 percent stake in the Lakers franchise. While there will not be a massive change to ownership since Jeanie Buss and her family owns 66 percent of the team, the sale is particularly intriguing considering that Anschutz has the first right to purchase if the Buss family ever sells the team.

Philip Anschutz owns the second-largest possession stake within the Los Angeles Lakers. It remains to be seen if special rights given to Anschutz will be transferred to the new owner of his stakes in LA Lakers. Once an investor comes into the picture, the sale of Anschutz’s stake must be accepted by the NBA Board of Governors, which does not look like a massive hurdle.

The Lakers are worth $4.6 billion, the third-most valuable team in the NBA behind the New York Knicks and Golden State Warriors. LA Lakers is also one of the most recognized franchises in league history, tied with the Boston Celtics for the most championship titles with 17 each. It remains one of the most expensive teams across all sports in the world. Even though Anshutz’s stake will be expensive, there will be no lack of suitors due to the popularity and commercial potential of the Lakers.

Unfortunately for the Purple and Gold, LeBron James and Co. failed to advance in the 2021 NBA playoffs after enduring a first-round exit at the hands of the Phoenix Suns. LA Lakers were the defending champions, so the defeat was disheartening for the fanbase. Already preparing for the next season through various offseason moves, LeBron James is rumoured to switch back to his old Number 6 jersey. Despite the early defeat, the Lakers are far from done, and their value is ever flourishing with the NBA growing more and more popular not only in the US but around the world.

Related Articles

Latest Articles