Support for LAist comes from
We Explain L.A.
Stay Connected

Share This


Billionaire Owner Decides Not to Sell AEG After All

STERLINGDAVISPHOTO/LAist Featured Photos pool on Flickr
Stories like these are only possible with your help!
You have the power to keep local news strong for the coming months. Your financial support today keeps our reporters ready to meet the needs of our city. Thank you for investing in your community.

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.

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