Los Angeles Business Journal

AEG Denies Report of Kings Sale

By Jonathan Polakoff Thursday, June 5, 2014

Anschutz Entertainment Group of downtown Los Angeles on Thursday categorically denied a New York Post report that it is shopping the Kings hockey team for a sale.

The Post reported late Wednesday that AEG is working with Morgan Stanley to sell the team, which is currently competing with the New York Rangers in the Stanley Cup finals.

In a statement to the Business Journal, AEG Chief Executive Dan Beckerman said the Post report was based on “unsubstantiated rumors.”

“The Los Angeles Kings are not for sale, and there are no plans to sell the franchise today, tomorrow or anytime in the future," Beckerman said in the statement. "These rumors were started by anonymous sources seeking to create chaos and mischief. We remain solely focused on one goal, winning the Stanley Cup, and we will not be distracted by such irresponsible reports.”

In 2012, AEG tried to sell itself whole, but the company was taken off the market last year after failing to attract bids in its desired range of about $10 billion.

Along with the Kings, AEG owns Staples Center and other venues in the United States, England and other countries. It also owns several sports teams including the Los Angeles Galaxy and a portion of the Lakers.