AEG last month held "early stage talks to buy" Barclays Center from Forest City Enterprises, according to Josh Kosman of the N.Y. POST. Sources said that the company, which is the "No. 2 concert promoter in the country," is expected to "make a decision on whether to proceed with talks" by the end of the year. Sources added that AEG is "willing to spend" up to $500M on the arena, which is "slightly more than 12 times" Barclays' roughly $40M in expected '14 operating profits. However, Forest City is "said to be seeking a lot more" than $500M. Live Nation, the leading concert promoter, is likely to "at least kick the tires of a possible Barclays Center sale." AEG presently gives Barclays Center "operational support but does not run the arena and has no ownership stake" (N.Y. POST, 12/1).
LEADING A NEW CHARGE: In a special to SPORTSBUSINESS JOURNAL, Bruce Schoenfeld profiles AEG and writes in the past decade, AEG has "evolved into a global conglomerate that owns and runs venues and other prime real estate, provides content and affiliated services, and sells tickets and sponsorship inventory around the world" (SPORTSBUSINESS JOURNAL, 12/1 issue).
