Cavs "Quietly" Sought County Funds For Arena Bettman: Flames Need New Arena Marquette, Bucks Partner On Athletics Center Gillette Stadium Adds Cross Insurance Pavilion NASCAR HOF Sponsors Revenue Plummets Glendale On Pace To Lose $8.8M On Arena Deal OU Prez Says Stadium Upgrades Not Delayed Indy Eleven Unveil Stadium Renderings Wisconsin Gov. Proposes Bucks Arena Funding Inglewood Likely To Vote On Proposed NFL Stadium
Upcoming Conferences and Events
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).