AEG Sale Could Clear Way For Philip Anschutz To Become An NFL Mogul

Don’t count Philip Anschutz out as a potential owner of an NFL franchise in Los Angeles. Contrary to what some speculate, I’m told that the big reason the reclusive billionaire decided to put his AEG live entertainment business on the block is because it could provide him with the cash, and flexibility, to land a football team and stadium that would provide a legacy for him and his family — somewhat like Jerry Jones’ with the Dallas Cowboys. Anschutz would like to back away from live entertainment and ticketing. It’s a tough business that’s become tougher than ever as Live Nation and its Ticketmaster subsidiary have become more dominant. And, like a lot of people, Anschutz was impressed by the recent $2.15B deal to sell the Los Angeles Dodgers to Guggenheim Partners. It demonstrated just how lucrative it can be to own a trophy sports property in LA. No wonder he hired the bankers who handled the arrangements for Frank McCourt — Blackstone Advisory Group — to also manage the AEG auction. It features stakes in sports teams including the Los Angeles Lakers and the Kings, as well as real estate holdings.

(more…)

This article was printed from https://deadline.com/2012/09/philip-anschutz-aeg-sale-nfl-team-los-angeles-339264/