Kings’ Woes May Be as Simple as AEG

Poor, poor L.A. Kings. Before we start passing around a donation hat for Tim Leiweke and his doomsayers -- including Phillip Propper [April 3], whose money analysis may have just earned him a serious discount on his season tickets -- there are a few factors you have to look at.

First and foremost, a professional sports team is a toy. More important, it is a business toy. How many multimillion-dollar deals have been brokered by AEG at a King game or other Staples Center events? Not unlike a country club membership or a Rolls-Royce, sports ownership is a non-producing tool that facilitates business transactions. A billion-dollar corporation like AEG needs “red ink” and especially the kind that offers these kinds of transparent benefits.

Also, what did AEG pay for the Kings and what are they worth today? Was that factored into the red ink? Or how about the fact that the team pays $25 million in rent to the guy who owns them?

I’ll assume that AEG didn’t make billions by stupidity so I seriously doubt sports ownership has shocked its accountants. The Kings have almost perfect attendance, sell tons of merchandise, the lines at the concessions are always long, and parking sure isn’t cheap. It’s time for AEG and Tim Leiweke to stop crying poor and just shut up.

Ty Visconti

Fontana