It turns out the Los Angeles Kings aren’t for sale.
A report from the New York Post stated Philip Anschutz, head of AEG, would look to sell the Los Angeles Kings following the Stanley Cup Final.
While AEG originally denied the reports to the Post, the company reached out to ProHockeyTalk and President and CEO Dan Beckerman released this statement regarding the Post’s report:
“The unsubstantiated rumors printed in the New York Post earlier today about the potential sale of the Los Angeles Kings are false. So I’m clear, the Los Angeles Kings are not for sale, and there are no plans to sell the franchise today, tomorrow or anytime in the future. These rumors were started by anonymous sources seeking to create chaos and mischief. We remain solely focused on one goal, winning the Stanley Cup, and we will not be distracted by such irresponsible reports.”
Stand down, Kings fans, your team won’t be in new hands any time soon. Back to focusing on the Kings being up 1-0 against the New York Rangers.
While the Los Angeles Kings are busy in the Stanley Cup Final, the team owner may be looking to cash in on the team’s success and cash out while they’re riding high.
According to Josh Kosman of the New York Post, Kings owner Philip Anschutz is considering selling the franchise he’s owned since 1995 once the Cup Final is over. Anschutz Entertainment Group (AEG) has denied the report, however, but talk of selling the team isn’t new.
Anschutz attempted to sell AEG and all of its holdings back in 2012. Anschutz later called off the bidding on the team last spring and, then President and CEO, Tim Leiweke left the franchise and took the same job with the Maple Leaf Sports and Entertainment.
It’s believed the recent sale of the NBA’s Los Angeles Clippers for $2 billion is the inspiration for the latest talk of selling the Kings. Forbes listed the value of the Kings at $450 million in 2013.
The recent news of Anschutz Entertainment Group (AEG) being taken off the market and the resignation of Kings governor Tim Leiweke has some fans wondering if it will have a drastic effect on the team itself.
Los Angeles’ President of Business Operations Luc Robitaille tells Jon Rosen of L.A. Kings Insider that there shouldn’t be any issues with how the team is run.
“Nothing’s going to change from day-to-day operations. I run the business operations, and Dean [Lombardi] runs the hockey operations, and the way it is right now is the way it’s going to stay. Our ownership group stays the same. A lot of us were discussing with Dan [Beckerman] from time to time, so we don’t see anything changing.”
Considering how surprising the news was of AEG turn of events was, Kings fans should be relieved to hear this. After all, we’ve seen how ownership shuffling and front office issues have affected other teams negatively.
Hearing it come from Robitaille also has that added effect of getting good news from someone everyone in L.A. loves. Even if there was bad news, having it come from him would somehow make it a little better.