Roski and Philip Anschutz were majority owners of the Los Angeles Arena Company, looking to replace the Great Western Forum for the Kings, and exercised an option to buy 25% of the Lakers, with the Lakers agreeing to become a tenant in the planned arena.
The key players behind the Los Angeles Arena Company, Roski and Philip Anschutz, were determined to replace the existing Great Western Forum with their own venue for the Kings. As part of this plan, they acquired a 25% stake in the Lakers, which would serve as tenants in the new arena.