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WSJ: AEG, Parent of LA Kings, Staples Center, For Sale

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Old
09-18-2012, 09:06 PM
  #1
cassius
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WSJ: AEG, Parent of LA Kings, Staples Center, For Sale

Just saw this on the news and thought it was interesting...

Quote:
Anschutz Co. is planning to sell Anschutz Entertainment Group, its powerhouse sports-and-entertainment subsidiary whose properties include a piece of the Los Angeles Lakers as well as sports teams, stadiums and music festivals around the world.

A sale could be worth several billion dollars, according to people familiar with the matter.

Anschutz executives said Tuesday evening that they plan to invite bids from a range of potential buyers, including private-equity firms and global entertainment, leisure or real-estate companies, and expect to wrap up a sale some time next year.
http://online.wsj.com/article/SB1000...257551236.html

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Old
09-18-2012, 09:24 PM
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NastiMarvasti
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This is strange. AEG is a huge money making machine that owns hundreds of teams and arenas all over the world. Not to mention Regal Entertainment (movie theaters), music division, etc. Don't know why they would want to sell unless Uncle Phil just got tired of it.

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09-18-2012, 09:51 PM
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Quote:
Originally Posted by NastiMarvasti View Post
This is strange. AEG is a huge money making machine that owns hundreds of teams and arenas all over the world. Not to mention Regal Entertainment (movie theaters), music division, etc. Don't know why they would want to sell unless Uncle Phil just got tired of it.
Well he is 72 years old.

Still seems weird, though.

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Old
09-18-2012, 09:54 PM
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Wonder what it does for the NFL in LA? Weren't they one of the bigger parts of a future move within a few years?

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09-18-2012, 09:58 PM
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KINGS17
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It also says that he won't consider breaking it up and selling it in pieces, which means it is going to take some mighty deep pockets to buy the whole thing.

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09-18-2012, 10:24 PM
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Ziggy Stardust
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Here is a fraction of a list of AEG's assets (some of which are partnerships).

SPORTS CLUBS:
Los Angeles Kings (NHL)
Los Angeles Lakers (NBA)
Los Angeles Galaxy (MLS)
Houston Dynamo (MLS)
Manchester Monarchs (AHL)
Ontario Reign (ECHL)
Eisbären Berlin (Germany)
Hamburg Freezers (Germany)
Djurgårdens IF Hockey (Sweden)
Hammarby Fotboll (Sweden)

FACILITIES:
Staples Center (Los Angeles)
LA Live/Nokia Theatre (Los Angeles)
Home Depot Center (Carson)
O2 Arena (London)

It's going to take a tycoon to purchase AEG as a whole.

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Old
09-18-2012, 10:32 PM
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Killion
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Whoa now. This is HEAVY. Off-loading those entities after having just won the Stanley Cup speaks volumes. Im suspecting major power struggle within the NHL's BOG's to wit AEG's lost patience; wants to deal with. Despite having their own personnel the most important voices around the table. Not good for the NHL.

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09-18-2012, 10:38 PM
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Quote:
Originally Posted by Killion View Post
Whoa now. This is HEAVY. Off-loading those entities after having just won the Stanley Cup speaks volumes. Im suspecting major power struggle within the NHL's BOG's to wit AEG's lost patience; wants to deal with. Despite having their own personnel the most important voices around the table. Not good for the NHL.
I think it has more to do with Uncle Phil wanting to retire. There is a lot more to AEG than the Kings and the entire AEG entity would not be sold over the NHL lockout.

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09-18-2012, 10:39 PM
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Quote:
Originally Posted by Killion View Post
Whoa now. This is HEAVY. Off-loading those entities after having just won the Stanley Cup speaks volumes. Im suspecting major power struggle within the NHL's BOG's to wit AEG's lost patience; wants to deal with. Despite having their own personnel the most important voices around the table. Not good for the NHL.
Uhh, no. The Kings are a small drop in the bucket as far as AEG assets are concerned. You don't sell a conglomerate over something that minor. The Kings are worth what, maybe $500 million, if we're being generous? AEG selling price is expected to be $20B +, which is more than the total worth of all the NHL franchises combined. Even if that estimate is overblown, it will definitely be billions.

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09-18-2012, 10:53 PM
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Originally Posted by santiclaws View Post
Uhh, no. The Kings are a small drop in the bucket as far as AEG assets are concerned. You don't sell a conglomerate over something that minor. The Kings are worth what, maybe $500 million, if we're being generous? AEG selling price is expected to be $20B +, which is more than the total worth of all the NHL franchises combined. Even if that estimate is overblown, it will definitely be billions.
Yeah but to be fair most of that worth is sitting in real estate which would be pretty useless without tenants. Probably the reason he's selling it as a whole.

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09-18-2012, 11:03 PM
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Originally Posted by KINGS17 View Post
It also says that he won't consider breaking it up and selling it in pieces, which means it is going to take some mighty deep pockets to buy the whole thing.
They should just call Matt Hulsizer and the Ice Edge boys to buy it up.

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09-18-2012, 11:06 PM
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Uncle Phil may just be tired of caps, linkage, luxury taxes, and lockouts....

http://www.latimes.com/business/mone...0,749032.story


Quote:
AEG had barely put itself up for sale Tuesday evening when speculation began to mount that Los Angeles billionaire Patrick Soon-Shiong may be in the running to buy all or part of the entertainment giant, according to a person familiar with the situation unauthorized to speak publicy on the matter.

The Anschutz Co., run by Denver billionaire Philip Anschutz, said it is seeking a buyer for its AEG subsidiary, which has stakes in the L.A. Live entertainment venue in downtown Los Angeles, the Los Angeles Kings professional hockey team and the Los Angeles Galaxy pro soccer team.
The person told The Times that Soon-Shiong has already met with Carolina Panthers owner Jerry Richardson.
Soon-Shiong, who made a failed bid for the L.A. Dodgers this year, already owns a minority stake in the Los Angeles Lakers.

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Old
09-18-2012, 11:11 PM
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Quote:
Originally Posted by Killion View Post
Whoa now. This is HEAVY. Off-loading those entities after having just won the Stanley Cup speaks volumes. Im suspecting major power struggle within the NHL's BOG's to wit AEG's lost patience; wants to deal with. Despite having their own personnel the most important voices around the table. Not good for the NHL.
Translate for those of us with more linear thinking, please. You suggesting they don't like what Bettman's doing?

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09-18-2012, 11:27 PM
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In looking through some of the AEG properties and Anschutz's holdings, it seems several of the sports teams are owned in partnership (50%).

Quote:
Originally Posted by Gallatin View Post
This has little to do with the NHL. You guys are too much. It's pretty clear what your agenda is.

Agenda?

This has everything to do with the Los Angeles Kings future. Banner hasn't been raised at Staples Center yet and the owner is selling off his entire entertainment holdings.

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09-18-2012, 11:30 PM
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NastiMarvasti
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Quote:
Originally Posted by Killion View Post
Whoa now. This is HEAVY. Off-loading those entities after having just won the Stanley Cup speaks volumes. Im suspecting major power struggle within the NHL's BOG's to wit AEG's lost patience; wants to deal with. Despite having their own personnel the most important voices around the table. Not good for the NHL.
It's important to note that they are selling AEG. Not the Kings. This is much bigger than the Kings or the NHL for that matter.

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09-18-2012, 11:38 PM
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KINGS17
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Quote:
Originally Posted by Fugu View Post
Uncle Phil may just be tired of caps, linkage, luxury taxes, and lockouts....
What a load of B.S.!!

Quote:
Originally Posted by Fugu View Post
In looking through some of the AEG properties and Anschutz's holdings, it seems several of the sports teams are owned in partnership (50%).

Agenda?

This has everything to do with the Los Angeles Kings future. Banner hasn't been raised at Staples Center yet and the owner is selling off his entire entertainment holdings.
Outside of the Lakers, which has Jerry Buss as the majority owner, AEG pretty much has controlling interest in everything else.

It will impact the Kings future. Don't know if it will be a little or a lot. Yes, he is selling off his entire entertainment holdings, and the Kings are a very small fraction of that. This has nothing to do with the lockout.


Last edited by Killion: 09-19-2012 at 02:28 PM. Reason: qtd del...
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Old
09-18-2012, 11:39 PM
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NastiMarvasti
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Here's their website to get an idea of what these guys own. They even run other NHL buildings like Jobing.com Arena and Prudential Center.

http://aegworldwide.com/

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09-18-2012, 11:54 PM
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Fugu
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Quote:
Originally Posted by KINGS17 View Post
What a load of B.S.!!

I didn't realize Mr. Anschutz had his representatives here to convey his views.

Quote:
Originally Posted by KINGS17 View Post
Outside of the Lakers, which has Jerry Buss as the majority owner, AEG pretty much has controlling interest in everything else.

It will impact the Kings future. Don't know if it will be a little or a lot. Yes, he is selling off his entire entertainment holdings, and the Kings are a very small fraction of that. This has nothing to do with the lockout.

{Self-edit: Need to work on the % stake in each team. No source yet for total Lakers stake.}


As for the timing, it would be interesting to hear why he is selling right now.


Last edited by Fugu: 09-19-2012 at 10:51 AM. Reason: ...
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Old
09-19-2012, 12:24 AM
  #19
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http://www.tsn.ca/nhl/story/?id=405609
AP story


helenenothelen: L.A. officials react to news of AEG being put up for sale http://t.co/YDGQrPVd


http://lakingsinsider.com/2012/09/18...s-sale-of-aeg/
Hammond on sale


http://profootballtalk.nbcsports.com...fls-l-a-plans/
NBC Sports on sale - emphasis on "derailing" of NFL return to LA


darrenrovell: Don't see all of AEG going to a single buyer, but if the company is sold, my hunch is LA's immediate NFL dreams are over.

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Old
09-19-2012, 12:27 AM
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Rumors have been floating around about this for a while in LA, it's not a drop of the hat or frustration thing.

A lot of people sell things that they build when they feel they are at their most valuable. This is one of those cases. They've done a lot for the Kings with a great building, area to play in, and of course fantastic financial support, but the Kings are still small potatoes compared to the rest of his empire.

I hate to see them go after all they've done for the area, but as long as the next owner trusts Lombardi and the hockey folks to do their job, the Kings won't be affected one bit. They will obviously have deep pockets because even the incredibly wealthy don't have the resources to buy AEG. It will have to be someone ludicrously wealthy.

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Old
09-19-2012, 12:32 AM
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Quote:
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Rumors have been floating around about this for a while in LA, it's not a drop of the hat or frustration thing.

A lot of people sell things that they build when they feel they are at their most valuable. This is one of those cases. They've done a lot for the Kings with a great building, area to play in, and of course fantastic financial support, but the Kings are still small potatoes compared to the rest of his empire.

I hate to see them go after all they've done for the area, but as long as the next owner trusts Lombardi and the hockey folks to do their job, the Kings won't be affected one bit. They will obviously have deep pockets because even the incredibly wealthy don't have the resources to buy AEG. It will have to be someone ludicrously wealthy.
I posted this earlier, the wealthiest guy in Los Angeles:


http://www.latimes.com/business/mone...0,749032.story

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Old
09-19-2012, 01:03 AM
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NastiMarvasti
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Originally Posted by Fugu View Post
I posted this earlier, the wealthiest guy in Los Angeles:


http://www.latimes.com/business/mone...0,749032.story
Anschutz himself is from Denver so the potential buyer could be from anywhere.

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09-19-2012, 01:06 AM
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Originally Posted by Fishhead View Post
He's always been in the complete background as far as the Kings go. Leiweke runs the show and is the visible person. Regardless of his activity with his other divisions, I've only seen him at Staples a handful of times since it opened, and I've been to just about every home game. He was there quite a bit in this year's playoffs, however. My friends that work up in the boxes and tech areas say this is the first time they've ever seen him with any regularity.

His wife is a huge Kings fan, however. Apparently she gets pretty intense at the games.
He supports the team with his billion dollar smile.


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Old
09-19-2012, 01:22 AM
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Fugu
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Originally Posted by NastiMarvasti View Post
Anschutz himself is from Denver so the potential buyer could be from anywhere.

It's not like I was conjecturing about candidates, just pointing out that some of the locals had picked up on some vibes there. His net worth is similar to Anschutz's. I think we all agree that it has to be someone from the multi-billion dollar club, which is a rather short list.

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09-19-2012, 01:58 AM
  #25
KINGS17
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I didn't realize Mr. Anschutz had his representatives here to convey his views.
Didn't realize you knew why he was selling.

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