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AEG Sale Canceled / Leiweke Leaving Company / Kings Owners Not Changing

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@helenenothelen: Dan Beckerman, who takes over as president and CEO of AEG following Tim Leiweke's departure, joined company in '97 as CFO of Kings.
 
"@DennisTFP: Dean Lombardi told me at opening season presser Kings could spend to cap to defend, wonder if changes w AEG money guy Beckerman as new boss"

There you go. I knew it would mean something to our team. Money might not be as flexible as it used to be. Not good, not good at all.
 
AKAY47 said:
I don't know what to say or how to make sense of it, but I know it definitely impacts the LA Kings.

http://www.reuters.com/article/2013/03/14/aeg-sale-idUSL1N0C68ZM20130314

"@Reuters: AEG President and CEO Tim Leiweke will be leaving the company"
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(Reuters) - Billionaire Phil Anschutz has decided to retain ownership in Anschutz Entertainment Group and will terminate the sale process for the sports and entertainment empire, the company said on Thursday.

As part of the decision, Dan Beckerman will become president and chief executive officer of AEG, replacing Tim Leiweke, who has been at the helm since 1996 And will be leaving the company.
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So the Kings are no longer for sale?
 
AKAY47 said:
"@DennisTFP: Dean Lombardi told me at opening season presser Kings could spend to cap to defend, wonder if changes w AEG money guy Beckerman as new boss"

There you go. I knew it would mean something to our team. Money might not be as flexible as it used to be. Not good, not good at all.
Click to expand...

I seriously doubt this will change much in regards to their ability to spend in the short-term because they promoted somebody from within. Not some schmuck from outside.

RonSwanson said:
So the Kings are no longer for sale?
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Precisely.
 
In the back of my mind I wondered if Nancy Anschutz would get involved with this. She loves the Kings. I could totally see her saying to Phil "you can sell whatever you want - you aren't selling the Kings". We all know the wives really run the show. ;)

'Billionaire Philip Anschutz said Thursday he has decided not to sell AEG, the entertainment giant that controls the Staples Center, LA Live and the Los Angeles Kings.

Anschutz said he plans to resume a more active role in the company."

http://www.latimes.com/business/mon...ip-of-staples-center-20130314,0,6195980.story

Here's Leiweke article from the Times: http://www.latimes.com/business/mon...st-after-sale-halted-20130314,0,4853743.story
 
AKAY47 said:
"@DennisTFP: Dean Lombardi told me at opening season presser Kings could spend to cap to defend, wonder if changes w AEG money guy Beckerman as new boss"

There you go. I knew it would mean something to our team. Money might not be as flexible as it used to be. Not good, not good at all.
Click to expand...

Don't freak out yet, drama queen
 
Beckerman, who takes over as president and CEO of AEG following Tim Leiweke's departure, joined company in '97 as CFO of Kings. Given that, I don't expect the financial purse strings to tighten, given he controlled them.

Not to mention - Nancy loves the Kings. :)
 
AKAY47 said:
"@DennisTFP: Dean Lombardi told me at opening season presser Kings could spend to cap to defend, wonder if changes w AEG money guy Beckerman as new boss"

There you go. I knew it would mean something to our team. Money might not be as flexible as it used to be. Not good, not good at all.
Click to expand...

LoL. Just because TL is gone doesn't mean the money will dry up. AEG has been good about giving us what we need. I doubt AEG will stop funding a Stanley Cup Champion team that is now drawing more revenue and interest in Staples Center and LA LIVE. AEG wasn't up for sale due to financial difficulty. The guy replacing TL is also the guy that has been involved with the Kings getting their money. I am sure he will keep the cash flowing.
 
I would like an explanation as to why Leiweke is leaving;* otherwise, I am not concerned about Beckerman...seems like a genuine fan as well, and with Nancy guiding him and Phil, we will be alright about spending money to the cap.

*Maybe his inability to get the stadium deal done was the "parting of the ways" point...I am just speculating here, don't have a clue why.

Anyone knows, or think they know?
 
As an aside, I figured they would take AEG off the market when they couldn't find an immediate buyer.

They wanted over $1.1 billion for the package, and the most I heard offered was in the $600-$700 million range. That's anywhere from $400-$500 million short.

Never was going to get done.
 
Ron said:
I would like an explanation as to why Leiweke is leaving;* otherwise, I am not concerned about Beckerman...seems like a genuine fan as well, and with Nancy guiding him and Phil, we will be alright about spending money to the cap.

*Maybe his inability to get the stadium deal done was the "parting of the ways" point...I am just speculating here, don't have a clue why.

Anyone knows, or think they know?
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Kinda is strange that the stadium deal is pretty much dead, and Uncle Phil decides to take the company off the market and Lieweke leaves the company.
 
Live in the Now said:
Worst part of this is that the Farmers Field project could be dead.
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In a statement, Beckerman said the pursuit of a downtown football stadium adjacent to L.A. Live remains a top priority.

“Priority projects going forward include the development of Farmers Field adjacent to our L.A. Live campus and the pursuit of our plan to bring the NFL back to Los Angeles,†Beckerman said.
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http://www.latimes.com/business/mon...st-after-sale-halted-20130314,0,4853743.story
 
Ron said:
As an aside, I figured they would take AEG off the market when they couldn't find an immediate buyer.

They wanted over $1.1 billion for the package, and the most I heard offered was in the $600-$700 million range. That's anywhere from $400-$500 million short.

Never was going to get done.
Click to expand...

http://www.forbes.com/sites/mikeozanian/2012/10/15/value-of-aeg-disclosed-to-be-at-least-8-billion/

http://www.billboard.com/biz/articl...ill-not-be-sold-after-all-tim-leiweke-leaving

http://online.wsj.com/article/SB10001424127887323393304578360423849102576.html

I guess you're technically right that they wanted "over $1.1 billion" for the package...
 
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