LA Kings: Should the Owners Have Sold the Team Before NHL the Lockout?
December 13th, 2012 by Steve Silverman Leave a reply »Denver billionaire Philip Anschutz is the man behind the Anschutz Entertainment Group (AEG) that owns the Los Angeles Kings.
Anschutz reportedly wants to sell AEG and divest himself of the Stanley Cup champions and the Los Angeles Staples Center that is the home to the Kings and the NBA's Los Angeles Lakers and the Los Angeles Clippers (source: Newsday).
The Kings were recently valued at $276 million by Forbes Magazine in late November.
Timing is everything in life and perhaps Aschutz thought that his investment would be worth a lot more after the Kings won the Stanley Cup in June by beating the Devils in six games.
However, the NHL lockout is in its fourth month and it threatens the 2012-13 season. The NHL has not yet announced a "drop-dead" date before it will cancel the season, but it is a topic that commissioner Gary Bettman and deputy commissioner Bill Daly have surely broached with owners.
That's not the kind of thing you want to hear about when you want to sell your Stanley Cup champion hockey franchise.
But, in some ways, this lockout could be the best thing for AEG if it wants to maximize its sal ...
Read Full Article at Bleacher Report - NHL
Article written by Steve Silverman
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