AEG move could help L.A.’s bid for NFL team, councilwoman says
This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.
An influential L.A. councilwoman expressed hope the decision to halt the sale of AEG will bring stability to the company and boost L.A.’s chances of luring an NFL team to Los Angeles.
Billionaire Philip Anschutz announced he has decided not to sell AEG, which owns Staples Center, LA Live and the Los Angeles Kings. AEG is behind the effort to build an NFL stadium in downtown Los Angeles and lure professional football back to the city.
Councilwoman Jan Perry, who represents the area that includes AEG properties Staples Center and LA Live, said she hopes the decision will bring “a measure of stability and certainty” to the company as it seeks to lure an NFL team to Los Angeles.
“When Phil Anschutz said he was going to sell off the company, I don’t think that strengthened AEG’s hand in its negotiations with the NFL,’ she said. ‘It’s always difficult to change [owners] in midstream.”
In September, the Los Angeles City Council approved plans for the $1.2-billion plan, which included a 72,000-seat stadium.
The deal was hailed as an effort to make downtown Los Angeles — home to the Lakers, Clippers and Kings — a professional sports powerhouse, sparking new economic activity and bringing major renovations to the struggling Los Angeles Convention Center next door.
But it remained a question as to whether AEG could lure the NFL back to L.A.
Anschutz said he plans to resume a more active role in the company. He announced in September he was seeking bidders in a sale that some insiders said could have fetched up to $7 billion.