STAPLES Centre, Los Angeles Kings up for sale by Managing Company -NHL Update
Seen by many financial analysts as to be a very surprising move, the company that currently manages the Los Angeles Kings and their home stadium, the STAPLES Centre, in Los Angeles, California, has announced to put both on sale as of Tuesday, September 18,
2012.
While the move may be surprising as to be regarded as a confusing move since the team is literally at the peak of its height since becoming a part of the National Hockey League (NHL), others have termed it to be a lucrative opportunity for the current ownership.
A war is expected over prospectus groups in order to gain the full ownership rights in the upcoming days as both of the included properties on sale are definitely worth a lot and have been termed to be one of the most expensive team and venue in the world
of sports in North America.
Currently, Anschutz Co., which is run by Denver based billionaire Philip Anschutz, has put up the arena and team up for sale, which is a subsidiary of its AEG. They also have shares in the L.A. Live entertainment venue along with the Los Angeles Galaxy pro
soccer team, not to mention the Kings.
“Given the success of the management team and employees in establishing AEG as one of the premier real estate development, live sports and entertainment platforms in the world, as well as the value AEG has created with the strategic assets that comprise
its platform, this is an appropriate time to transition AEG to a new qualified owner," said Cannon Y. Harvey, Anschutz Co. president.
Many believe that Anschutz has a desire of continuing on with another venture now, specifically in making a professional football stadium in the same locality, which would give Los Angeles a National Football League (NFL) team.
The sale of the Los Angeles Kings would bring about the second biggest sport based transaction in less than a year as the $2.15 billion purchase of the Los Angeles Dodgers baseball team was another record setting feat as well. It was a world record price
to pay for the MLB club by the Guggenheim Baseball Management and the Kings are not expected to be going for cheap anytime soon either.
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