Forbes: AEG Valued At Least $8 Billion
LOS ANGELES (CBSLA.com) – The sports and entertainment giant AEG is said to be valued at least ‘$8 Billion’ according to a Forbes source that isn’t allowed to speak.
In September AEG, who owns arenas and teams around the world, including the Lakers, Galaxy, Sparks and the Kings, was put for sale by owner Philip Anschutz.
President and CEO Tim Leiweke said that the sell will not affect their plans in attempt to bring the NFL back to Los Angeles.
AEG has a $1 billion proposal for a stadium site next to the Staples Center in downtown Los Angeles.
Forbes breakdown of AEG’s value:
- Venues: LA Live Campus (Staples Center), O2 Arena in London, O2 World in Berlin – Value Range from $4.8 Billion-$6 billion.
- Teams: Lakers (NBA)/27%, L.A. Kings (NHL)/90%, L.A. Galaxy (MLS)/100%, Houston Dynamo (MLS) – Value Range from $2 billion-$2.5 billion
- New Businesses (sports and entertainment ticketing, L.A. NFL stadium, real estate development): $1.2 billion to $1.5 billion.
The frontrunner to buy AEG is the third richest man in America and Oracle CEO Larry Ellison, who has 139-million Oracle shares valued at $4.2 billion as collateral. He also recently bought a home in Malibu valued at $36.9 million and an Island in Hawaii.
Other bidders to join Ellison are Guggenheim Partners, Thomas H. Lee Partners LP, Bain Capital LLC and Colony Capital LLC and Patrick Soon-Shiong and Liberty Media Corp