AEG to sell Staples Center. & part ownership of Lakers

AEG to sell Staples Center. & part ownership of Lakers

Postby The Rock on Tue Sep 18, 2012 5:57 pm

https://twitter.com/BillShaikin/status/248223520155385856

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



http://www.latimes.com/news/la-kings-aeg-m,0,5267801.story?track=rss

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.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby revgen on Tue Sep 18, 2012 6:02 pm

Wow.

I wonder if the Buss family will buy back their shares.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby XXIV on Tue Sep 18, 2012 6:07 pm

Any chance Buss will purchase the STAPLES center and own the arena like he did with the Forum?
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby last stand on Tue Sep 18, 2012 6:08 pm

buy the staples center and kick the clippers out :man9:

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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby revgen on Tue Sep 18, 2012 6:09 pm

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.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby ThizGuy83 on Tue Sep 18, 2012 6:10 pm

the buss family and completely own the staples center and either kick the clippers out or have mister donald sterling pay up on some rent... :man1:
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby XXIV on Tue Sep 18, 2012 6:16 pm

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.


I definitely agree, especially with the new TV deal. Is there any knowledge as to what percent of the team AEG owns?
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby GoldenKnight on Tue Sep 18, 2012 6:19 pm

I'm gonna buy it guys and I will kick the Clippers out
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby The Rock on Tue Sep 18, 2012 6:20 pm

AEG owns 30% of the Lakers

http://articles.latimes.com/2011/sep/27/sports/la-sp-nba-arenas-20110928

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.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby XXIV on Tue Sep 18, 2012 6:22 pm

Wow, I didn't think it would be that much. I was expecting a number closer to the 10% range, with that said hopefully Buss does indeed purchase those shares back.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby BDG on Tue Sep 18, 2012 6:25 pm

I wish I had a few billion dollars right about now ...
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby therealdeal on Tue Sep 18, 2012 6:29 pm

... 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.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby XXIV on Tue Sep 18, 2012 6:31 pm

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.


It's likely both.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby revgen on Tue Sep 18, 2012 6:35 pm

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.


The Lakers have a stacked roster, the Kings won the Stanley Cup, and the Galaxy won the 2011 MLS Cup. This is the perfect time to "sell high" if you're going to sell.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby therealdeal on Tue Sep 18, 2012 7:34 pm

That doesn't explain the stadium though. The price really isn't that high on the stadium.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby SmoothOperator on Tue Sep 18, 2012 7:37 pm

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

Dr. Patrick Soon-Shiong
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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
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby LTLakerFan on Tue Sep 18, 2012 8:43 pm

^^^^ does he hate the Clippers? Do it Jerry! Send them to Anaheim.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby OX1947 on Tue Sep 18, 2012 8:51 pm

When I first clanced at Dr. Patrick's name I read Soon-Schlong.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby The Rock on Tue Sep 18, 2012 11:46 pm

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

Dr. Patrick Soon-Shiong
Image
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



Bingo

http://www.latimes.com/sports/sportsnow/la-sp-sn-soon-shiong-aeg-20120918,0,7361978.story

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.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby easyguy on Wed Sep 19, 2012 9:23 am

How about someone with more money? Someone who can afford 300 millions in luxury taxes for the next 10 years? Also finds a way to make the Lakers more profitable.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby therealdeal on Wed Sep 19, 2012 10:13 am

Why not partner with AEG instead and create the richest group in all of sports?

They share in the investment and the profit (although the profit would be limited split between so many people) and they have the funds to buy any and everything they want in LA sports entertainment.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby VincentTH on Wed Sep 19, 2012 10:25 am

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.
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby therealdeal on Wed Sep 19, 2012 10:57 am

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.

1. Whole thing as in Lakers AND Staples Center?
2. Where from?
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby lakerfan2 on Wed Sep 19, 2012 11:14 am

Looking to sell high, and invest in an LA NFL team perhaps?
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Re: AEG to sell Staples Center. & part ownership of Lakers

Postby LAKEROC on Wed Sep 19, 2012 12:51 pm

This is when I wish the Buss family had Warren Buffet/Bill Gates money. We wouldn't even be stressing about the financial luxury tax in a few years, and Buss could buy back the 30% from AEG, along with Staples Center, and send the Clippers out to Anaheim or to Seattle!!
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