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Report: Kings owner thinking of selling franchise

Jun 5, 2014, 2:30 PM EST

Philip Anschutz AP

While the Los Angeles Kings are busy in the Stanley Cup Final, the team owner may be looking to cash in on the team’s success and cash out while they’re riding high.

According to Josh Kosman of the New York Post, Kings owner Philip Anschutz is considering selling the franchise he’s owned since 1995 once the Cup Final is over. Anschutz Entertainment Group (AEG) has denied the report, however, but talk of selling the team isn’t new.

Anschutz attempted to sell AEG and all of its holdings back in 2012. Anschutz later called off the bidding on the team last spring and, then President and CEO, Tim Leiweke left the franchise and took the same job with the Maple Leaf Sports and Entertainment.

It’s believed the recent sale of the NBA’s Los Angeles Clippers for $2 billion is the inspiration for the latest talk of selling the Kings. Forbes listed the value of the Kings at $450 million in 2013.

  1. whiskytango333 - Jun 5, 2014 at 2:48 PM

    Buy low, sell high.

    • scout202sport - Jun 6, 2014 at 8:48 AM

      This story is a bunch of BS. Look at the source for starters. New York Post?!?! AEG has flatly denied that the Kings are for sale. Dean Lombardi has said they aren’t for sale. Not one single reporter who covers the Kings in Los Angeles has even heard anything about this nonsense. This story is 100% FAKE

  2. capspats - Jun 5, 2014 at 2:54 PM

    Not a bad move. King’s value is at it’s highest, and like you said cross-town clippers brought in 2 bil.

  3. capspats - Jun 5, 2014 at 2:57 PM

    …driving the value up even more

  4. sunking1 - Jun 5, 2014 at 3:00 PM

    It’s all about gettin’ paid

  5. howintensive - Jun 5, 2014 at 3:01 PM

    I really think that the Clippers being sold for 2M may have also included a secret “Drop the lawsuit and leave quietly” clause.

    • cybernetikghost - Jun 5, 2014 at 3:54 PM

      It was 2B, not 2M.

  6. fpstratton - Jun 5, 2014 at 3:33 PM

    No problem…..just leave Dean Lombardi and Darryl Sutter in their respective positions, and everything will be fine.

  7. therealjr - Jun 5, 2014 at 3:43 PM

    Going to be a reality check when people realize that there aren’t guys like Steve Ballmer hanging out on every corner looking to pay 3x-4x the true market value of a franchise. Sure I’m a little jealous, but I also can’t believe this gomer has $20B in the bank after basically running Microsoft into the ground post-Gates.

    • dadawg77 - Jun 5, 2014 at 6:39 PM

      Stock options. But Ballmer might buy AEG. It looks like AEG goal of NFL team isn’t going to happen so they are bowing out. Ballmer picks up the Kings, now he has product for a TV channel and maybe a new stadium in the future where the NFL team would have been.

  8. areaman714 - Jun 5, 2014 at 3:54 PM

    Mark Wong was the last straw . . .

  9. cybernetikghost - Jun 5, 2014 at 3:56 PM

    That’s what he looks like? I didn’t know that pictures of him existed.

  10. sixchr - Jun 5, 2014 at 3:59 PM

    LA isn’t a hockey town, a basketball team in LA is worth a ton more than a hockey team so if he thinks there’s a chance he sniffs $2 billion I think he’s smoking something. That being said, what’s the point in owning a team as long as he has, getting them to an elite status in the league, and then sell when they’re an annual Cup contender? Sure, you can cash out but what’s the point of owning a sports team if you don’t want to win? One would think the situation the Kings are in is the dream you would have when you buy a team.

    • hockeyflow33 - Jun 5, 2014 at 8:50 PM

      Because it’s a business just like it’s a job to the players.

  11. djshnooks - Jun 5, 2014 at 4:09 PM

    NY media putting rumors out there to try and distract the team? How classless.

    • nj666 - Jun 5, 2014 at 4:27 PM

      josh kosman of the post is the biggest scumbag with starting rumors.

  12. heynyc61 - Jun 5, 2014 at 4:16 PM

    How do u know la isn’t a hockey town??? Have you lived there? My guess no. The play to 100% capacity… They don’t need to be the most popular team in town to be successful

  13. sjtorpitt - Jun 5, 2014 at 4:26 PM

    ^heynyc.
    I live in LA, and am a hockey fan before any other sport by far, but it IS NOT a hockey town. The Lakers and their long runs of success still rule the sports world in LA. People didn’t know what hockey was in LA until 2012.

    • wranglerick - Jun 5, 2014 at 8:17 PM

      I thought Gretzky took care of that in 88

    • Professor Fate - Jun 5, 2014 at 8:35 PM

      You obviously haven’t lived in L.A. long. There were hardcore hockey fans there before Gretzky showed up, especially during the Triple Crown Line era of the late 70s and early 80s, and the Forum was packed on a regular basis. The Kings’ run to the finals in ’93 brought in yet more fans.

      It is inarguable that there are bandwagon fans in all of sports. L.A. likely leads in this regard for a very simple reason: Half the population moved there from somewhere else (with your choices of teams I’m guessing that includes you). Angelenos are a bit fickle when it comes to their sports teams as, like most Americans, they prefer to be associated with a winner.

      The Lakers have gone to nearly half of the NBA finals. That consistent winning brings in the fans. The Clippers were long an afterthought (and the punchline to jokes when they were thought of at all), yet the last two years have seen them garner some success and thus more fans. In contrast, despite not having had much playoff success until recently, the Kings have possessed a hardcore fan base for decades.

      Since ’72-’73 the attendance at Kings’ games has been above 10,000, except for ’78-’79 when they missed that mark by eight. Since they moved to the larger capacity Staples Center in ’99 their lowest average year was ’08-’09 at 16,488. This year they averaged 19,018, eighth highest in the league. Wouldn’t you consider Pittsburgh (9th) to be a hockey town? New York Rangers (15th)? Boston (16th)? St. Louis (18th)? The Kings outdrew them all.

      That tired saw that L.A. isn’t a hockey town is not only incorrect, it is an insult to Kings’ fans everywhere. It was apparent in 2012 and it is blatantly obvious today. Well, to most people anyway.

  14. atwatercrushesokoye - Jun 5, 2014 at 4:30 PM

    Donald Sterling has a few extra bucks to spend these days, and sadly he wouldn’t be the worst owner in NHL history, Harold Ballard makes him look like a saint.

    • pirovash88 - Jun 5, 2014 at 5:25 PM

      Sterling was an NBA owner, not NHL..

      • atwatercrushesokoye - Jun 5, 2014 at 6:23 PM

        Yeah you missed the sarcastic joke, but well done. Further to my point Sterling wouldn’t even be in the top 3 worst NHL owners.

      • Professor Fate - Jun 5, 2014 at 8:36 PM

        As long as he didn’t buy the Habs.

  15. sizzle299 - Jun 5, 2014 at 5:36 PM

    Why is there a picture of Edward James Olmos accompanying this article?

  16. thegronk87 - Jun 5, 2014 at 5:38 PM

    A hockey town is a town whose fans love their hockey team more than the other teams. In LA it’s the dodgers and lakers. The only hockeytown in the. US is detroit and Minneapolis,

    Go kings – take care of business against the fluke rangers.

    • cantescapekarma - Jun 5, 2014 at 6:59 PM

      I’m guessing you’ve never been to Buffalo, NY if you think the only hockey towns in the US are Detroit and Minneapolis. Buffalo is definitely a hockey town! (And we love our Buffalo Bills too)
      A lot of the people here know the game too. Some pretty smart fans. And nobody can say we don’t support out professional sports teams! Just look at the attendance for the Buffalo Sabres just this last season alone, when it was well known that we were tanking for last place. (and the Buffalo Bills haven’t been to the playoffs in 14 years but still sell out almost every game in one of the bigger stadiums in the NFL).

      We also have some of the highest TV ratings for hockey in the entire US

      Plus with the Harbor Center going up next to the arena (which will be the Only 3-rink complex in the entire NHL), along with all the hockey programs (for many age groups) and top class coaches + ex-NHL players already signed up to help run all different areas of the hockey ops – Buffalo is trying to become one of the premier hockey destinations in the World! (Hence the couple of IIHF and World Championships already scheduled and the HARBORCENTER isn’t even done being build yet…)

    • jason9696 - Jun 5, 2014 at 8:30 PM

      I’m cheering for the Kings as well. But how have the Rangers been flukey? I know they weren’t expected to be the Eastern Conference champions. I didn’t think they had a chance against the Penguins or the Canadiens. But they beat them both.

  17. upperdecker19 - Jun 5, 2014 at 7:34 PM

    Christopher Walken owns the Kings?

  18. nvpuckstopper27 - Jun 5, 2014 at 7:37 PM

    Written by a New York paper after their team lost. HAHA!

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