SBD/June 5, 2014/Franchises

AEG Reportedly Looking Into Sale Of NHL Kings, "Riding The Clippers' Coattails"

AEG is "weighing" putting the Kings "on the block" soon after the NHL Stanley Cup Final, according to sources cited by Josh Kosman of the N.Y. POST. A source said, "I can assure you there will be a de-coupling of (AEG’s) content from real estate." However, AEG Chief Legal & Development Officer Ted Fikre said, "AEG has no interest in auctioning any of its sports teams currently or at any time in the near future." The Kings are "said to be worth" about $550M. A source said that AEG is "trying to ride the Clippers coattails." Kosman notes AEG could "use proceeds to keep buying and building more arenas." Another source said, "They are looking at core markets and are buying venues." A source said that Morgan Stanley is "readying potential suitors" However, the bank "declined to comment" (N.Y. POST, 6/5).
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