On the surface, the decision of Philip Anschutz, billionaire (he owns a mansion und a yacht), to sell AEG throws a potential wrench into the company’s efforts to build a new stadium in downtown L.A.
But even if the new owner isn’t inclined to build and own a football stadium, it will be too late for the new owner to do anything about it -- other than perhaps sell the football stadium. Per a source with knowledge of the situation, if/when the L.A. City Council gives final blessing to the project during a September 28 meeting, AEG won’t be able to pull the plug.
At that point, the only thing that will stop the stadium from being built is a lawsuit that derails the project (all lawsuits attacking the project must be filed within 30 days and resolved within 175 days of city council approval) or the inability to attract a team to play in it.
Theoretically, the new owner could drive such a hard bargain with the league that it keeps a team from coming to L.A., but the reality is that, by the time a buyer has been identified and the sale is closed, it could be too late for the buyer to do anything to stop the stadium drive -- especially if the pro-stadium forces within AEG now accelerate the efforts to lure a team to L.A.
So, basically, the only folks who should be interested in buying AEG are those who buy in to the L.A. stadium project.
