Billionaire Philip Anschutz, the founder of AEG and owner of Staples Center, has agreed to sell his stake in the Lakers, sources confirmed to The Times on Friday night.
The deal, first reported by Sportico, is to an unknown buyer.
Anschutz is the owner of the Kings and the Galaxy, and a source said the move with the Lakers shares won’t impact his relationship with either team.
Anschutz owns 27% of the Lakers, the largest minority shareholder of the organization controlled by the Buss family.
The move is “part of some financial planning and redeployment of capital to other AEG projects and growth initiatives,” AEG chief executive Dan Beckerman told Sportico.