AEG to sell Staples Center. & part ownership of Lakers

AEG sale means ownership shares in #Lakers and Stanley Cup champion #LAKings are up for sale.

One of the world’s largest sports and entertainment franchises, owned by billionaire Philip Anschutz, has put the company up for sale. AEG owns sports franchises that include the Los Angeles Kings and L.A. Galaxy, along with global real estate holdings such as the L.A. Live complex, which includes Staples Center and Nokia Theatre.

XXIV wrote:Any chance Buss will purchase the STAPLES center and own the arena like he did with the Forum?

revgen wrote:

XXIV wrote:Any chance Buss will purchase the STAPLES center and own the arena like he did with the Forum?

There's a chance, but IMO he'll probably buy back the team first before he tries to buy Staples.

The 18,997-seat Staples Center is owned and managed by billionaire Philip Anschutz's Anschutz Entertainment Group, and Anschutz owns 30% of the Lakers.

therealdeal wrote:... why is it for sale? I can think of two things: 1) they're selling high on the stock or 2) they need the money for the stadium they're trying to put up.

therealdeal wrote:... why is it for sale? I can think of two things: 1) they're selling high on the stock or 2) they need the money for the stadium they're trying to put up.

SmoothOperator wrote:It wouldn't shock me if this guy was a candidate to buy AEG:

Dr. Patrick Soon-Shiong

Net Worth $7.2 Billion As of March 2012
Age: 60
Source of Wealth: Pharmaceuticals, Self-made

read more: http://www.forbes.com/profile/patrick-soon-shiong/


If you all can recall, this is the guy that bought Magic Johnson's minority stake in the lakers a few years ago and you can usually see him sitting in the lower bowl at the Laker games. He's got the bank account to make such a play considering he has 3 times more money than Mark Cuban

The richest man in Los Angeles could buy the AEG sports and entertainment empire.

Patrick Soon-Shiong, who owns a minority share of the Lakers and tried to buy part of the Dodgers, is exploring the purchase of the AEG.

The Dodgers sold last spring for $2.15 billion, a world record for a sports franchise. The AEG assets could fetch more than double that price, depending in part on which properties AEG owner Philip Anschutz and AEG President Tim Leiweke ultimately decide to include in the sale.

The AEG assets include ownership shares in the Lakers, Kings, Galaxy, Staples Center and LA Live, according to the sale announcement.

Soon-Shiong's interest was confirmed Tuesday night by his representative, Chuck Kenworthy.

Kenworthy declined additional comment but issued a statement on behalf of Soon-Shiong:

"Dr. Patrick Soon-Shiong is keenly aware that AEG is in play," the statement read. "We have the utmost respect for Phil and Tim and what they have accomplished in entertainment and sports and in revitalizing the downtown community.

"We clearly are interested in furthering this legacy for Los Angeles."

Soon-Shiong, 59, is a doctor, biotech investor and philanthropist. In 2010, he bought Magic Johnson's minority ownership share in the Lakers.

In March, Forbes estimated his net worth at $7.2 billion. It is unclear whether he would pursue all or part of AEG and unclear as well whether he would team with partners in the bidding.

Soon-Shiong teamed with East Coast hedge-fund billionaire Steven Cohen in an unsuccessful bid to buy the Dodgers. Johnson fronted the winning bid, submitted by Guggenheim Baseball Management.

VincentTH wrote:Someone mentioned that the Lakers may want to buy back AEG's share of the team. I read that the sale is for the whole thing or nothing.