Bruce McNall bought a 25 percent stake in the Kings from Jerry Buss in 1986, and bought an additional 24 percent in 1987 to become the team's largest shareholder.
14 Facts About Bruce McNall
2.
Bruce McNall was named team president that September, and purchased Buss' remaining shares in March 1988.
3.
Bruce McNall then shocked the sports world on August 9,1988 when he acquired the NHL's biggest star, Wayne Gretzky, along with Marty McSorley and Mike Krushelnyski, from the Edmonton Oilers for Jimmy Carson, Martin Gelinas, three first-round draft choices and US$15 million.
4.
Bruce McNall raised Gretzky's annual salary from less than $1 million to $3 million, which, in turn, triggered a dramatic rise in NHL salaries throughout the 1990s.
5.
Bruce McNall owned Thoroughbred race horses and in 1990 won France's most prestigious race, the Prix de l'Arc de Triomphe, with the colt Saumarez.
6.
Bruce McNall was a partner with Wayne Gretzky in the colt Golden Pheasant who won races in Europe as well as the Arlington Million in the US and the Japan Cup at Tokyo Racecourse.
7.
In December 1993, Bruce McNall defaulted on a $90 million loan, and Bank of America threatened to force the Kings into bankruptcy unless he sold the team.
8.
Bruce McNall sold controlling interest in the Kings in May 1994 and resigned as chairman of the board of governors, though he still remained as president and governor of the Kings for a time.
9.
On December 14,1993, Bruce McNall pleaded guilty to five counts of conspiracy and fraud, and admitted to bilking six banks out of $236 million over a ten-year period.
10.
The financial problems from the Bruce McNall era plagued the Kings for several years afterward.
11.
Bruce McNall was released in 2001 after his sentence was reduced by 13 months for good behavior.
12.
Bruce McNall remained on good terms with many of his former players, with Wayne Gretzky, Rob Blake, Luc Robitaille and others visiting him in prison.
13.
Gretzky even refused to allow the Kings to retire his number 99 until Bruce McNall could attend the ceremony.
14.
Bruce McNall took a role with Peter M Hoffman at Seven Arts Pictures in 2003 and is credited on Nick Cassavetes' 2012 movie, Yellow.