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Kings, Staples Center owner for sale

The SportsXchange

Anschutz Entertainment Group, the organization that owns the NHL's Los Angeles Kings, the MLS' Los Angeles Galaxy and the Staples Center is for sale.

AEG made the announcement Tuesday. The company is run by billionaire Philip Anschutz. The Kings and Galaxy have recently won championships in their respective sports. AEG also owns part of the Los Angeles Lakers, and the Home Depot Center.

The company seeks to find one buyer for the entire company, a source told ESPN.com.

"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, president of the Anschutz Company, in a statement. "This process represents a unique opportunity to maximize value for all concerned and will allow us to assure that, like the Anschutz Company, the new owner will have the financial resources, commitment and vision to support AEG's management team as it continues to grow the businesses of AEG and the power of its brands.
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