Features
No Deal The Best For AEG
Philip Anschutz yanked his AEG conglomerate off the auction block last year apparently because the offers were too low – and Forbes magazine says it was probably the right move.
What a difference a year makes and, as Forbes‘ Mike Ozanian noted, sometimes the best deals are the ones you don’t make.
Last year, bankers estimated AEG to be worth $8 billion to $10 billion. Since AEG was taken off the market, the sports, venue and music company has increased its value by $1 billion, the magazine determined.
First, the L.A. Kings, which AEG owns, won its second Stanley Cup in three years, increased attendance at the
The Los Angeles Lakers, which AEG has a 27 percent stake in, didn’t have a banner year but because former Microsoft chief Steve Ballmer has offered $2 billion for the Los Angeles Clippers, the Lakers – with twice as much revenue – “are surely worth” more, the magazine said.
Then there are the soccer teams – Los Angeles Galaxy (100 percent ownership) and Houston Dynamo (50 percent) – which have new television deals along with the rest of Major League Soccer.
And Forbes added Pollstar’s figures to the mix, citing 27 arenas owned, operated or affiliated with AEG Facilities that accounted for 34 percent of the top 100 arena ticket sales.