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Sep 26 2012

Anschutz to Sell AEG – NFL Still Coming to LA, Part 1

by at 2:46 pm


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Phil Anschutz has shockingly decided to sell his multi-billion dollar sports and entertainment conglomerate AEG.

Late on the night of September 17, a story first reported by the Wall Street Journal revealed the impending sale of Anschutz Entertainment Group (AEG), a huge sports and entertainment conglomerate that owns the Stanley Cup Champion Los Angeles Kings, Coachella music festival, Staples Center, Farmers Field, part of Los Angeles Lakers basketball, and many other sports venues around the globe. The Los Angeles-based company has also been a leader in trying to bring an NFL franchise back to LA, as evidenced by their attempt to seek approval to build Farmers Field in LA that would ultimately be an NFL team’s home. Owned by Denver billionaire Philip Anschutz and managed by widely respected CEO and president Tim Leiweke, AEG’s dynamic duo was anointed as the high-powered dream team that would bring football back to LA. Mock-ups of Farmers Field had Los Angeles fans salivating over the $1.2 billion facility that would surely attract teams like the Jaguars and Vikings to uproot and relocate to the nation’s second largest market. Now, the impending sale of AEG has shaken the sports landscape and caused many fans and journalists to doubt the likelihood of NFL football in LA.

On September 17, renowned sports columnist Bill Simmons tweeted:

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