jlkr wrote:This makes perfect sense from an estate planning point of view. Philip Anschutz is doing this in order to preserve what's left of his fortune after estate taxes for his heirs. Same deal as with the O'Malley family selling the Dodgers way back when and Jerry Buss selling 30% of the Lakers to AEG in the first place (I had thought that was 25% while Magic had 5% which he sold to Soon-Shiong. So if AEG really owns 30% of the Lakers and Soon-Shiong still owns Magic's interest, then the Buss family actually own only 65% of the Lakers. Hmmm....
Well said and I know it makes sense from his perspective, but the timing is still odd. Anschultz knew he was going to turn 76 before the stadium was built. From a business perspective why even go through this trouble if only to sell the company? Maybe he's learned something about his own health? I don't know. Maybe Phil has let AEG run itself so independently that he wasn't much a factor in AEG's new acquisitions and new projects? I don't know.
I mean the bottom line is that whoever buys AEG is going to buy the new stadium too, that's not going to go away, but a billion dollar investment like this is something you don't start arbitrarily and then decide to sell the company that started it.
jlkr wrote:Also I do not see the Buss family buying back that 30% of the Lakers they sold, let alone buy AEG. Have to remember Jerry Buss sold that 30% in order to generate the cash required to enable the family to keep the Lakers in the family when he passes away and the estate taxes become due.
I don't either. I could see them trying to buy Staples, but not after all of the guaranteed money they just put out for this team. They're likely to not make any big purchases until 2015 or so.