Support for LAist comes from
True LA stories, powered by you
Stay Connected

Share This

News

Billionaire Owner Decides Not to Sell AEG After All

LA-Live-200px.jpg
STERLINGDAVISPHOTO/LAist Featured Photos pool on Flickr
Our reporting is free for everyone, but it’s not free to make.
LAist only exists with reader support. If you're in a position to give, your donation powers our reporters and keeps us independent.

Sorry buyers, but Anschutz Entertainment Group (AEG) is no longer for sale. AEG's billionaire owner, Philip Anschuts revealed today he's decided not to sell the biz that controls major downtown property L.A. Live along with the Staples Center and the Los Angeles Kings.

There were plenty of interested bidders for AEG, notes the L.A. Times, including the richest man in L.A., Patrick Soon-Shiong. Estimates put AEG's potential selling price at around $7 billion.

As the Times points out, AEG staying in the game at L.A. Live could be another nail in the coffin of the theoretical National Football League stadium slated for the property.

Related
The Richest Man in Los Angeles Wants to Buy AEG
Sorry Football Fans: No NFL Team Coming to L.A. For at Least Another Year