Philip Anschutz, the billionaire founder of sports and entertainment company AEG, is reportedly selling his 27% ownership stake in the Lakers, according to Scott Soshnick and Eben Novy-Williams of Sportico.
Anschutz owns the second-largest stake of the team, with the Buss family owning 66%. The buyer in the deal is not yet known, and the deal is still pending approval by the NBA's Board of Governors.
Anschutz's share in the team also gives him the right of first refusal on any wider controlling sale, though it's unclear if the buyer in the proposed deal would have the same.