Anschutz To Buy UK Soccer Team?

The UK media is speculating that Philip Anschutz, the billionaire owner of LA Galaxy and AEG, is one of two American businessmen trying to buy Premier League soccer team Newcastle United.

Reports in papers including the Daily Telegraph say Anschutz and Dallas-based businessman Clark Hunt, who owns Major League soccer side FC Dallas and NFL team Kansas City Chiefs, are pitching for the club.

AEG was unavailable for comment at press time but current Newcastle owner Mike Ashley is known to be willing to sell.

Ashley, a retail tycoon in the sporting goods market, bought the club a year ago for £135 million (US$211 million) and cleared a £110 million (US$171 million) debt from his own pockets.

It was a popular move at the time because he’s a lifelong supporter, but poor results and a high-profile bust-up with former manager Kevin Keegan have caused the fans to turn against him. He may well be prepared to cut his losses and settle for £225 million (US$351 million).

If Anschutz or Hunt makes a successful bid, he would join a growing number of U.S. billionaire businessmen and sports fans that have invested in English football.

Tampa Bay Buccaneers owner Malcolm Glazer has made a leveraged buyout of Manchester United, Cleveland Browns owner Randy Lerner has bought Aston Villa, and Thomas Hicks and George Gillett borrowed almost £300 million (US$468 million) to finance the takeover of Liverpool.

Last year Stanley Kroenke, the owner of National Hockey League’s Colorado Avalanche, Denver Nuggets basketball team and Colorado Rapids soccer team – which he bought from Anschutz – increased his stake in Arsenal to 12.9 percent. In September he was given a seat on the board.

Two years ago, casino and entertainment entrepreneur Robert Earl, the U.S.-based English businessman who founded Planet Hollywood, bought 23 percent of Everton from Paul Gregg, who started Apollo Leisure and sold it to SFX Entertainment eight years ago.