AEG Sale Price Could Top $2 Billion, According To Report

The sale of the AEG Group, which owns Staples Center as well as stakes in the Los Angeles Kings and Galaxy, could fetch a total price of $2 billion sources told The Fourth Period.

Anschutz Corp., which is owned by Denver-based billionaire Philip Anschutz, announced it was putting AEG up for sale on Tuesday. The sale includes all the group's various sports and entertainment assets, with Staples Center, stakes in the Kings and Galaxy, the O2 Arena in London and the Coachella Music Festival among the most notable.

An internal memo to AEG employees said the sale would have no impact on their jobs and that all AEG executives would remain in their roles through the completion of the sale.

"This decision reflects the attractiveness to a new owner of the significant growing global demand for live sports and entertainment and our unique strategic platform in this space to further maximize the AEG Value proposition," related the Kings' NHL Board of Governors representative.

The Fourth Period also reports that an NHL executive said that the sale will have no effect on the CBA talks between the NHL and the players association.

The Staples Center is part of the L.A. Live center in downtown Los Angeles, and houses the Los Angeles Lakers, Clippers and Sparks.

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