June 16 (Bloomberg) -- Billionaires Eli Broad and Haim Saban will help pay for the Los Angeles Lakers’ victory parade after unions complained the city couldn’t afford to share the expense.

Donations will cover about $900,000 in city outlays related to tomorrow’s parade, the Lakers and Anschutz Entertainment Group, owner of the downtown Staples Center where the team plays, said today in an e-mailed statement. The Lakers and Anschutz will spend $1 million on parade production costs.

The donors stepped in after groups including the Police Protective League, a union for officers, complained that the city shouldn’t bear parade costs amid a budget shortfall. The protests prompted Anschutz President Tim Leiweke and Mayor Antonio Villaraigosa to seek private help.

“We will do everything in our power to minimize this celebration’s impact on our city’s finances and ensure that private donations replace taxpayer funding,” Villaraigosa said in the statement.

Donors also include Jerrold Perenchio, former chairman of Univision Communications Inc.; Casey Wasserman, chief executive officer of Wasserman Media Group; Joe Hernandez, president of Melissa’s/World Variety Produce Inc., and developer Ed Roski.

City officials are trying to resolve a $530 million budget deficit for the next fiscal year, the result of lower revenue because of the recession, according to the mayor’s Web site.

The Lakers, led by series MVP Kobe Bryant, won the National Basketball Association championship on June 14, defeating the Orlando Magic four games to one in the best-of-seven series.

To contact the reporters on this story: Michael White in Los Angeles at mwhite@bloomberg.net.

Last Updated: June 16, 2009 19:00 EDT