Anschutz, Roski Buy 25% Stake in Lakers

Adding to its array of properties in its attempt to become the dominant player in Southern California sports, L.A. Arena Co. and its majority owners, Philip Anschutz and Ed Roski, have exercised an option to buy 25% of the Lakers.

Terms of the deal, announced Wednesday, were not disclosed.

The option was granted on June 14, 1996, in conjunction with the Lakers’ agreeing to become a tenant in the new Staples Center, a $300-plus million, 20,000-seat downtown facility that will also house L.A. Arena’s primary property, the Kings, and the Clippers.

In addition, the Lakers and Kings will share a training facility that will be built in El Segundo, with groundbreaking due in February.

“They’re in our building for 25 years,” said Tim Leiweke, president of L.A. Arena and newly named member of the Laker board of directors. “We have a lot of respect for Dr. [Jerry] Buss and Jerry West. And I think they bring something to the table for us, and I think we bring something to the table for them.”

L.A. Arena is also 40% owned by Fox, which televises many of the Laker and King games. The Lakers and Leiweke said an arrangement is being worked out to bring Fox into the Laker ownership mix once legalities have been worked out.

Besides the 25% share of the Lakers, L.A. Arena owns the Kings and Galaxy and, said Leiweke, “the first look at the Lakers, should Dr. Buss ever decided to sell them.”