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AEG sale: Bids for group expected next week, according to report

Bids for Anschutz Entertainment Group will reportedly be coming next week. AEG owns the Staples Center and has a 30 percent stake in the Lakers.

Ronald Martinez

Bids ranging from $5 billion to $8 billion will be submitted for Anschutz Entertainment Group as early as next week, according to a report from the Financial Times.

AEG currently owns and operates the Staples Center in Los Angeles, and has a 30 percent stake in the Lakers among numerous stakes in other franchises and entertainment venues around the world. Owner Philip Anschutz put the company up for sale in September and is reportedly looking for close to $10 billion.

The major parties involved with the bidding are Australian shopping centre operation Westfield, OneWest Bank Chairman and CEO Steve Mnuchin, and Qatari Sports Investment. Several other groups and individuals are also reportedly involved or interested, including California private equity investor Guggenheim Partners, Los Angeles real estate investment group Colony Capital, Los Angeles pharmaceutical billionaire Patrick Soon-Shiong and Oracle co-founder Larry Ellison.

Qatari Sports Investment and Colony Capital are reportedly on the verge of joining forces, as Colony founder Tom Barrack has some close ties to the Middle Eastern group.