AEG Holds Fire Sale

Los Angeles-based private investment firm Andell Holdings has agreed to buy the Chicago Fire pro soccer franchise from Anschutz Entertainment Group, with closing expected within 30-45 days.

AEG’s sale of the Fire reportedly won’t affect the company’s ownership of Toyota Park, the team’s home stadium.

The sale is part of AEG’s divestment of Major League Soccer teams – it owned five at one time, and the Fire sale reduces the number to two.

The buyer has a musical bloodline: Andell is a private investment firm owned by Andrew Hauptman and Ellen Bronfman Hauptman and is an outgrowth of the Seagram Co., which acquired MCA/Universal in the 1990s.

This will be Andell’s first venture into sports operations, although Charles Bronfman, the son of Samuel and father of Andrew, once owned the Montreal Expos of Major League Baseball.