Skip to content

Step right up to own the Kings

Sep 19, 2012, 11:25 AM EDT

Alec Martinez #27 of the Los Angeles Kings holds up the Stanley Cup after the Kings defeated the New Jersey Devils 6-1 to win the Stanley Cup series 4-2 in Game Six of the 2012 Stanley Cup Final at Staples Center on June 11, 2012 in Los Angeles, California.
(June 10, 2012 - Source: Bruce Bennett/Getty Images North America) Getty Images

The Los Angeles Kings, along with the rest of Anschutz Entertainment Group’s holdings, are for sale.

“The Anschutz Company will undertake the sale to the qualified party best able to reflect the full value of AEG and fully committed to working with AEG’s management team as it pursues its long-term business objectives,” the company said Tuesday.

AEG also owns the Staples Center, where the Kings play, and the Los Angeles Galaxy of the MLS. (Plus a whole heap of other stuff.)

Blackstone Advisory Partners has been hired to guide the sale after managing the auction of the Los Angeles Dodgers, which sold for a record $2 billion in March.

In its most recent valuations, Forbes estimated the Kings were worth $232 million, the 10th highest of the 30 NHL clubs.

The Stanley Cup may tack on a few more million to that value.

(If you’re curious, Florio breaks down how this sale could affect L.A.’s bid for an NFL team.)

  1. mpg44 - Sep 19, 2012 at 12:01 PM

    Think this is a coincidence since the lockout became official!! Great job guys!! Just remember , every day your lockout continues , more of that 3.3 billion revenue goes away!!

    • blomfeld - Sep 19, 2012 at 2:45 PM

      Much ado about nothing …

      Interesting point friend, however the LA Kings have nothing to do with this … nor do the Lakers for that matter. The bottom line is that the Anschutz Group “will not” be getting an NFL franchise and new stadium in downtown LA as hoped for. So since they’ve now come to a “dead end” with this pursuit, their thinking is obviously to “cash out” from the field of sports ownership & entertainment, by selling the entire entertainment unit (AEG). The “parent” Anschutz Company is truly massive and it’s core activities are in things like real estate, stocks, railroads, oil exploration, etc. So notwithstanding the fact that we’re Stanley Cup Champs and all, the fact is that our lil ‘ol LA Kings barely make a blip on the radar screen … and this has absolutely nothing to do with the NHL lockout … :)

      • mpg44 - Sep 19, 2012 at 9:46 PM

        But maybe …. Just maybe , there were a few owners who were not in favor of a lockout . The kings , who are in the position to capitalize the most due to the cup win last year , I could see them not to pleased with losing money right now to deal with bettman and his shenanigans. This was really their time to shine and the kings and their fans should be the most pissed with bettman right now. If it were truly just wanting out of the sports and entertainment industry, why would you try to sell a team who’s league is in major turmoil , this will certainly ruin any chance of a profit or even breaking even. Where as I don’t believe this has much to do with the lockout , you really must see the irony of the owners of the defending champs wanting out . Just an interesting observation. How ever , the we one part of my statement is dead on true !! We should get a running clock like the nation debt one , but start running it backwards. We could start it at 3.3 billion and on the scheduled last day of this would be season have it hit zero.

      • blomfeld - Sep 19, 2012 at 11:15 PM

        “it’s only chicken feed” …

        please remember friend that when the Anschutz Company unloads AEG (Anschutz Entertainment Group) it will be netting at least 3-4 billion dollars … the paltry 190 million from the King’s portion of that sale, will barely get a mention at the final board meeting …

  2. hsnepts - Sep 19, 2012 at 3:07 PM

    Why would these greedy owners who are dripping in money want to sell these NHL cash cows?

    The players are right, they deserve more of the money. The owners are obviously sitting on hoards of cash – all made off the backs of these ‘labourers’.

    Maybe this is another Bettman smokescreen to make it look like these fat-cat owners are struggling, so they can bleed more money from the players.

    If you are a kid or an idiot, this is called sarcasm.

    How many more NHL franchises need to go up for sale – before the players and public realize that they need to let the businessmen do business.

    Unions need to protect their members from being exploited. What they should NOT do is hire lawyers, act like they are defending the public, and get in the way of efficient business. The NHLPA has handcuffed the NHL, and most of you readers of this blog seem to think this is about owner greed.

    Listen. For the sake of argument, let’s assume that there IS an imbalance, and the owners are raking in a hugely disproportionate amount of the money. What would that mean? It would mean a few things: 1) More businessmen trying to get in on the action. Not teams for sale. Thus expansion. 2) It would mean the owners trying to leverage this pile on money into on-ice success – meaning raising the salary cap.

    If you want a labour analogy: if a guy builds a mine and makes a killing, what does he do? He opens another mine, and hires a bunch more miners. If that mine struggles, what does he do? He locks out the union.

    The NHLPA has handcuffed the NHL. Unions need to protect their members from being exploited. But they hire lawyers and stick their noses into things they dont understand

    • blomfeld - Sep 19, 2012 at 5:05 PM

      Well said Snepts ! Except I would argue that the NHLPA is more guilty of “greed” as opposed to ignorance. They at least appreciate the basics of what makes the league and it’s teams tick. What they sorely lack however is “timing”. Now was not the time to start a pissing match with the owners like this, given that the viability of the league itself in it’s current form, is far from a given going forward. People like Fehr and Crosby are fools, almost like a couple of clowns on the Titanic, arguing about “who get’s what bunk bed” … an hour “after” hitting the ice berg ! :)

  3. dougreale - Sep 19, 2012 at 4:28 PM

    This could be a first step to buying and NFL team to move to LA. The NFL does not permit its owners to own a team in another professional league, right?

    • blomfeld - Sep 19, 2012 at 4:50 PM

      No way … the Anschutz group has run into a brick wall in terms of getting approval from the city of Los Angeles for building a downtown arena … this was to be the salient point for their entire “sports & entertainment” effort in southern California … but it’s not going to happen and so now they’re trying to cash out while the values of their various AEG assets are still relatively high (ie: Lakers, Kings, Galaxy, Staples Center complex, Target Field, etc) …

Featured video

Why are we talking about fighting... again?

Sign up for Fantasy hockey

Top 10 NHL Player Searches
  1. P. Datsyuk (3581)
  2. J. Drouin (2869)
  3. J. Spezza (2727)
  4. M. Gaborik (2686)
  5. E. Kane (2623)
  1. E. Staal (2577)
  2. S. Varlamov (2566)
  3. J. Skinner (2256)
  4. P. Dupuis (2085)
  5. V. Hedman (2079)