10 Updates

Second Stanley Cup For Kings Would Make AEG Sale More Lucrative For Anschutz

May 18 2014, 8:22am CDT | by

Two years ago the Los Angeles Kings captured their first Stanley Cup. Soon after, Philip Anschutz put AEG, the sports and entertainment company that owns 90% of the Kings, up for sale. Anschutz...

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10 weeks ago

Second Stanley Cup For Kings Would Make AEG Sale More Lucrative For Anschutz

May 18 2014, 8:22am CDT | by

Two years ago the Los Angeles Kings captured their first Stanley Cup. Soon after, Philip Anschutz put AEG, the sports and entertainment company that owns 90% of the Kings, up for sale.

Anschutz was looking for $8 billion for AEG at the time. The valuation seemed a bit rich, but plausible, as we discussed on the YES Network’s three-time Emmy Award winning show Forbes SportsMoney .

The sale of AEG never happened  in part because while Anschutz was having back surgery he heard that AEG CEO Tim Leiweke was trying to influence who bought the company so that he could keep running it, rather than simply sell AEG to the buyer who would offer the best deal for Anschutz.

Leiweke departed AEG soon after Anschutz pulled AEG off the block and he now now runs Maple Leaf Sports & Entertainment, which owns Toronto’s Maple Leafs and Raptors. Should Anschutz decide to sell AEG he would get considerably more than he was hoping for two years ago.

Why? Not only have sports teams valuations increased across the board, but the Kings in particular are much more valuable. The team is solidified itself the past few years as one of the best in hockey and are going to begin play in the Western Conference Finals this afternoon against the Chicago Blackhawks.

Each home playoff game generates about $2 million in profit for an NHL team from tickets and suite revenue. Plus, Anschutz controls the Staples Center, so he gets more from advertising and concessions for each playoff game. And anyone looking to buy AEG understands that the goodwill built up from this year’s Stanley Cup. The Kings could be worth more more than $550 million after this season.

Even the Los Angeles Lakers, who missed the NBA’s postseason this year, are up considerably in value the past two years. If Donald Sterling is forced to sell the Los Angeles Clippers he will get at least $1 billion . If the Clippers are worth that much, the Lakers, which Anschutz owns 27%, have to be worth close to $2  billion.

Sometimes the best deals are the ones that never happen. Two years ago that was the case for Anschutz.

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken in ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by the Dew ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hishammuddin Huss ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the southern states la ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Mustap ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allocation ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Sc ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara Skyway (K ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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