AEG, Owners Of Staples Center, To Be Sold

The company that owns Staples Center announced on Tuesday that it is putting the home of many of the Los Angeles based professional teams up for sale.

The Los Angeles Lakers, Clippers, Kings and Sparks all call Staples Center, one of the more iconic buildings in downtown L.A., as their home. The LA Times reports that Anschutz Co. is seeking a buyer for its Anshutz Entertainment Group (AEG) subsidiary. The company, run by Denver-based billionaire Philip Anshutz, also owns stakes in the Los Angeles Kings and the Galaxy.

"Given the success of the management team and employees in establishing AEG as one of the premier real estate development, live sports and entertainment platforms in the world, as well as the value AEG has created with the strategic assets that comprise its platform, this is an appropriate time to transition AEG to a new qualified owner," said Cannon Y. Harvey, Anschutz Co. president.

The details of how far along the bidding process have gone are unknown as of now. The AEG unit is reportedly pursuing plans to build a football stadium in efforts to lure a NFL team to Los Angeles.

The Staples Center wouldn't be the only iconic southern-California based sale to happen this year. The Guggenheim Baseball Management's $2.15 billion purchased the Los Angeles Dodgers earlier this year.

Staples Center is part of AEG's L.A. Live complex with the Los Angeles Convention Center.