Kings parent AEG off market, Leiweke to leave company
Big news in the sports business world today, as Anschutz Entertainment Group -- the parent company of the Los Angeles Kings (and a whole lot more) -- has been taken off the market by its 73-year-old chairman and controlling owner, Phil Anschutz.
Furthermore, Tim Leiweke (pictured), AEG’s president and CEO, will leave the company.
“From the very beginning of the sales process, we have made it clear to our employees and partners throughout the world that unless the right buyer came forward with a transaction on acceptable terms we would not sell the company,” Anschutz said in a statement.How this news affects the Kings, if at all, remains to be seen. As the LA Times’ Helene Elliott notes, Leiweke was a “genuine” fan of the team. Obviously, having a fan in charge only helps when management asks ownership for money.
Dan Beckerman, Leiweke’s replacement as prez and CEO of AEG, has strong Kings ties. don’t know how much that will count going forward— Helene Elliott (@helenenothelen) March 14, 2013
Related: AEG shakeup could mean the end of Farmers Field