Dolphins Unveil Sun Life Stadium Renovations Louisville Announces Stadium Expansion Plan Lexus Gets Dallas Arena's Platinum Level Name DraftKings Inks Deals With Cowboys, Chiefs, Pats University Plans Threaten Downtown Cincy Project Raiders Move Into New Training Facility Iowa State Completes South End Zone Renovations Florida Close On O'Connell Center Financing Facility Notes Notre Dame Stadium Adding Three Video Boards
SBD/September 21, 2012/Facilities
AEG Sale Could Help Or Hinder Farmers Field Stadium Project In L.A.
Published September 21, 2012
JUST ONE FACTOR: Former Dodgers Vice Chair Steve Soboroff, who was “instrumental in working with AEG to build Staples Center,” said that the Dodgers’ sale for $2.15B was not “the key factor in AEG’s decision, though certainly a factor.” Soboroff said, “They feel the stars are in alignment, that the timing was right for them.” He added, “I believe the new buyer probably will have more of a penchant, passion for football and less for soccer than Phil. From that perspective, depending on who the new owner is, it’s probably a positive" (L.A. TIMES, 9/21).
COMBINATION PLATTER: In N.Y., Michael De La Merced cited sources as saying that AEG’s “combination of real estate, entertainment and event promotion” is what has “so many would-be buyers salivating.” The sources “describe the model as a ‘virtuous circle’ that draws in income from rents, ticket sales, sponsorships and many other sources.” It also is “what makes valuing the company so daunting” (NYTIMES.com, 9/20). REUTERS’ Jeffrey Goldfarb wrote, "The privately held Anschutz portfolio is packed with trophy assets," which makes it “more like a blend” of MSG, which trades at "30 times expected earnings next year,” and EPL club Manchester United (REUTERS, 9/21).