Advertisement

Kings’ Buyers Keep Out of the Spotlight : NHL: Railroad magnate Anschutz and real estate developer Roski known less for talk than action.

Share via
TIMES STAFF WRITER

The imminent purchase of the Kings by Denver billionaire Philip F. Anschutz is much like his acquisition of the Southern Pacific Railroad in 1988.

Financial losses, an alienated public and dispirited employees were the problems the railroad faced until he bought it.

But Anschutz and local developer Edward P. Roski Jr., who will soon complete a deal to purchase the floundering team from a prearranged Chapter 11 bankruptcy, are not portraying themselves as turnaround specialists.

Advertisement

In fact, they prefer to leave any portrayals of themselves to others. Reclusive seems to be the word most associated with Anschutz, and Roski holds a relatively low public profile even though he is a leading real-estate developer in Southern California.

A spokeswoman for Anschutz and Roski said Thursday that neither was available for comment.

Alan Rothenberg, chief executive officer of the 1994 World Cup and chairman of Major League Soccer, remembered it was difficult even getting basic biographical information from Anschutz, who will be the operator/investor for the MLS team in Denver. Anschutz became interested in soccer when his youngest daughter started playing.

Rothenberg, whose law firm, Latham & Watkins, is representing Anschutz and Roski, pointed out that the franchise may be well served with low-profile owners.

Advertisement

“I think this is going to be great because they’re not in this for self-aggrandizement,” Rothenberg said.

So, they will not be Southern California versions of George Steinbrenner or Jerry Jones?

“No, I don’t think so,” he said. “They did something as big as this, and all they did was put out a press release, no big press conference and a lot of hoopla.”

But those who know them are not expecting absentee ownership from the men who reached a sale agreement for $114 million.

Advertisement

“With the kind of investment they’ve made, they’re going to be active,” said Bob Sanderman, a longtime Anschutz associate.

Said Rothenberg: “They care enough to know what’s happening. But they hire professionals and let the professionals do the business. I don’t think either of them will be evaluating hockey talent.”

Even before Anschutz, 55, made his move into soccer and hockey, he has been involved in athletics, having participated in marathons throughout the world. Roski used to climb in the Himalaya Mountains but told the Los Angeles Business Journal last year: “There are no old climbers. Now I just walk.”

Roski, 56, is president of Majestic Realty Co., which is based in the City of Industry and has a portfolio of 22 million square feet. In interviews, he has described his business approach as conservative, opting to treat investments as long term.

Anschutz’s public profile was raised in the last few months by an August agreement by Union Pacific Corp. to purchase Southern Pacific for about $3.9 billion. His 31% stake in the railroad is worth $1.2 billion, based on an acquisition price of $25 per share.

But he shows no sign of backing out of the railroad business, as he will be the biggest shareholder and a vice chairman of Union Pacific.

Advertisement

Although Anschutz rarely gives interviews, he has gained additional visibility as a key supporter in the presidential campaign of Senate Majority Leader Bob Dole. A Dole spokeswoman said Anschutz and Dole have a long personal friendship as both are from Russell, Kan.

Advertisement