Philip Anschutz stated on Thursday morning that he has decided to halt the sale of AEG, which is the company that owns the Los Angeles Kings. He plans to take a more active role in the company.
Los Angeles Kings owners not selling just yet
AEG, the company that owns the Los Angeles Kings, is no longer for sale. In addition, president and CEO Tim Leiweke is leaving the company. He will be replaced by Dan Beckerman.
Harry How
Originally put on the market in September, it was estimated that AEG could be sold for $7 billion. Individuals believed to have interest in the company were Los Angeles billionaire Patrick Soon-Shiong, Dallas Mavericks owner Mark Cuban, investment firm Colonial Capital and Guggenheim Partners, who have a majority stake in the Los Angeles Dodgers.
However, it appears Anschutz did not receive an offer to his liking. He reiterated on Thursday morning that he was not going to sell the company unless the right buyer emerged who was willing to work within, what he labeled as, acceptable terms.
In addition, it was announced that Tim Leiweke will be leaving the company. He was the president and CEO, as well as the Kings’ acting governor. Dan Beckerman, who originally joined AEG as the Kings’ CFO in 1997, will be replacing him.
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