minority

As the Buss siblings battle each other for the right to sell their minority stake in the Lakers, at least one of the other minority shareholder is sticking with the team.

Patrick Soon-Shiong, the owner of the Los Angeles Times, is not selling his stake in the Lakers.

Soon-Shiong bought a 4% stake in the team from Magic Johnson in 2010. His family attorney, Chuck Kenworthy, said that Soon-Shiong has no interest in selling his stake amid a high-stakes ownership transition.

“We love the Lakers,” Kenworthy told The Times. “We believe in the Lakers. We believe in the future of the Lakers and the championship years they are going to have. And we believe they are still undervalued.”

A group led by former Disney chief Bob Iger and venture capitalist Joshua Kushner agreed last week to buy controlling interest in the Lakers from Mark Walter at a $12.5-billion valuation — a record price for an American sports team. The sale is still pending approval by the NBA board of governors. Walter, who owns a majority stake in the Dodgers, is the subject of multiple federal investigations.

Jeanie Buss, whom Walter had agreed could remain as the Lakers’ governor for five years, is challenging her siblings’ decision to sell the family’s 17.8% stake in the team.

Real estate developer Edward P. Roski, one of the Lakers’ other known minority owners, has not disclosed whether he intends to sell his 3% stake in the team. He has owned a stake in the team since 1998. Todd Boehly purchased a minority stake in the Lakers in 2021, but it’s unclear whether all his shares folded into business partner Walter’s majority stake.

The consortium, named ​1892 Holdings, is led by former QPR chairman Amit Bhatia and also includes the Mittal Family Trusts, EE Capital and the K5 Sports ‌fund, where Bezos ​is the lead investor.

A ‌‌consortium which includes Amazon founder Jeff Bezos has reached a ⁠⁠definitive agreement ⁠⁠to buy a minority stake in Liverpool FC, the Premier League club’s owners, Fenway Sports Group has announced.

The consortium, named 1892 Holdings, is led by former Queens Park Rangers chairman Amit Bhatia and also includes the Mittal Family Trusts, EE Capital and the K5 Sports ‌‌fund, where Bezos is the lead investor.

“As we considered this opportunity, it became clear that Amit and the consortium shared our long-term philosophy and appreciation for what makes Liverpool special,” FSG president Mike Gordon said in a statement on Friday.

“Their experience and perspective will complement the strong foundation already in place and we ⁠⁠look forward to working together.”

A source ⁠⁠familiar with the matter told the Reuters news agency that the stake is about one-third. FSG, the US multinational sports company which bought Liverpool in 2010, will maintain the majority ⁠⁠share and operational control of the club.

Bhatia will become ⁠⁠the club’s new vice chairman and join the expanded board, along with Elaine Saverin from EE Capital and Bryan Baum from K5 Sports. Bezos will not have ⁠⁠a seat on the board, according to Reuters.

“To be welcomed as a partner in ⁠⁠a club of this stature is a ⁠⁠huge privilege,” Bhatia said.

“We are making this investment because we believe deeply in Liverpool and its leadership and we look forward to supporting the club’s continued success ‌‌for years to come.”

Liverpool, who have been English champions a joint-record 20 times, finished fifth in the Premier League last season. ‌‌

They ‌‌will start the new campaign at Newcastle United on August 23 with new manager Andoni Iraola.