Kings/AEG Sale Coming in a Few Weeks

[Ziggy Stardust]

http://news.yahoo.com/anschutz-could-select-preferred-aeg-174715830.html

Colony Capital LLC, Guggenheim Partners LLC and Los Angeles biotech billionaire Patrick Soon-Shiong made second-round bids in February for AEG and remain in discussions about a potential deal, the people said.

The bidders have all submitted non-binding offers of under $7 billion (4 billion pounds) for AEG's assets, including sports teams, arenas and a music touring business. Colony Capital would bid along with Qatar's sovereign wealth fund.

The bidders and AEG are about $1 billion apart on price, according to one of the people, although a disparity is not unusual with companies that own sports teams, which are difficult to value.

Anschutz's adviser, Blackstone Group LP , is looking for a price in the high single-digit to low double-digit billions, the people said.

The current bidders could yet team up to increase the size of their bids, though Anschutz and his advisers must approve any change in ownership groups, the people added. No decision has been made on how an ownership group would be structured, that person said.

Anschutz, whose company controls the National Hockey League's L.A. Kings and two Major League Soccer teams, would be required to go to U.S. sports leagues for approval once preferred bidding groups are identified.

It is possible that more than one party could be presented to the leagues for approval, one of the people said.

The leagues will vet potential buyer groups for legal or other issues that would make individuals unfit to own a team under its rules, and would also assess a buyer's financing, according to Marc Ganis, president of Chicago-based sports consultancy SportsCorp.

"It's hard to see bidders like this not being approved, but it can happen," said Ganis.

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[CNS]

As long as we're allowed to spend to the cap, don't care who owns us.

 

[tsanuri]

I'm not sure how I feel about Patrick Soon-Shiong. We have no track record as to what type of owner he will be. Since he just bought the Dodgers. But I do like the idea of an LA owner.

 

[damacles1156]

I don't want a bunch of suits owning the Kings. They have no vested interest in making the Kings successful.

All they see is Dollars signs on their bonus checks. They do that by cutting costs and personnel.

Not by making successful products.

Hope Patrick gets majority shares. At least he will be a single man; that will take a personnel interest in the success of the Kings (hopefully).

 

[Ziggy Stardust]

The Guggenheim Group and Soon-Shiong don't seem to have any problems spending money to improve the Dodgers and Dodger Stadium. I would hope we see a similar commitment from them in regards to the Kings, but more importantly, the best thing you hope for is that they do not meddle in the Kings' operations and allow Lombardi to run the team as he sees fit.

 

[Telos]

I don't mind it, though it is a little saddening to see AEG go, just as we were at an all-time high, though I suppose that's when it is best to sell

Patrick seems to be a competent guy and he is a local who owns part of the Lakers. He is in the American healthcare industry, so he will always have the money. Looks good to me.

 

[damacles1156]

The Guggenheim Group and Soon-Shiong don't seem to have any problems spending money to improve the Dodgers and Dodger Stadium. I would hope we see a similar commitment from them in regards to the Kings, but more importantly, the best thing you hope for is that they do not meddle in the Kings' operations and allow Lombardi to run the team as he sees fit.

I will remain skeptical, one is an Icon in Baseball, AND LA.

The other is a Hockey Team that barely anyone in LA even knows exists.

 

[Live in the Now]

He's mega-rich, so he's getting in this with the purpose of buying a winner. Not cost-cutting. And that's okay with me. The NHL is not what you get into to try to make money off of.

 

[tsanuri]

I don't mind it, though it is a little saddening to see AEG go, just as we were at an all-time high, though I suppose that's when it is best to sell

The Dodgers have been getting a massive influx of cash and improvements/upgrades.

Patrick seems to be a competent guy and he is a local who owns part of the Lakers. He is in the American healthcare industry, so he will always have the money. Looks good to me.

It's also going because the chance of a football team is becoming more imminent and Anschutz has made it rather clear he doesn't want a football team. Yet Leiweke did much of the heavy lifting to try and bring one to LA. And many rumors have been floated that it was really without approval from higher up.

 

[Vamos Rafa]

I'm not sure how I feel about Patrick Soon-Shiong. We have no track record as to what type of owner he will be. Since he just bought the Dodgers. But I do like the idea of an LA owner.

Huh? Soon-Shiong is not part of the Dodger ownership. He lost the bid to buy the Dodgers. I hope he does buy AEG. I won't be rooting for the Guggenheim group to win the bid. I'm not a fan of multi-team owners. If the Guggenheim group won the bid, they'd be focusing on three teams. Ugh. Yeah, AEG owned both the Kings and the Galaxy. But you have to remember that the Kings had a long playoff drought during the AEG ownership. And MLS is still a small league compared to the NHL. It'd be bad for the Dodgers and the Kings if they were under the same ownership.

 

[KopitarFAN]

Huh? Soon-Shiong is not part of the Dodger ownership. He lost the bid to buy the Dodgers. I hope he does buy AEG. I won't be rooting for the Guggenheim group to win the bid. I'm not a fan of multi-team owners. If the Guggenheim group won the bid, they'd be focusing on three teams. Ugh. Yeah, AEG owned both the Kings and the Galaxy. But you have to remember that the Kings had a long playoff drought during the AEG ownership. And MLS is still a small league compared to the NHL. It'd be bad for the Dodgers and the Kings if they were under the same ownership.

http://www.geclientservices-socal.com/boost/LAHH/03-01-13/colonyaeg.pdf

According to this, Guggenheim has dropped out.

I'm not sure how I feel about Patrick Soon-Shiong. We have no track record as to what type of owner he will be. Since he just bought the Dodgers. But I do like the idea of an LA owner.

I don't think Guggenheim and Soon-Shiong have any affiliation with one another in regards to the Dodgers, in fact, I think Shiong was apart of another group that was obviously outbid.

 

[tsanuri]

My error. That's what I get for not checking it out. I just knew he was in on it and forgot he was on the loosing side of the bidding.

 

[Vamos Rafa]

Just crurious, will Soon-Shiong be selling any of his properties to make up for the money he'll lose to buy AEG?

 

[RonSwanson*]

I wish Guggenheim was still in on it. They are incredible owners for the Dodgers.

 

[Word]

What is the status of Kings owner Ed Roski? Will the sale affect him? Does anyone know of a site that would list the owners of each team in the Los Angeles area? Thanks.