Advertisement
Business

L.A. billionaire Patrick Soon-Shiong may be possible AEG bidder

By Sam Farmer, Walter Hamilton and Ricardo Lopez
Share

AEG had barely put itself up for sale Tuesday evening when speculation began to mount that Los Angeles billionaire Patrick Soon-Shiong may be in the running to buy all or part of the entertainment giant, according to a person familiar with the situation unauthorized to speak publicly on the matter.

The Anschutz Co., run by Denver billionaire Philip Anschutz, said it is seeking a buyer for its AEG subsidiary, which has stakes in the L.A. Live entertainment venue in downtown Los Angeles, the Los Angeles Kings professional hockey team and the Los Angeles Galaxy pro soccer team.

The person told The Times that Soon-Shiong has already met with Carolina Panthers owner Jerry Richardson.

Advertisement

Soon-Shiong, who made a failed bid for the L.A. Dodgers this year, already owns a minority stake in the Los Angeles Lakers.

Raised in South Africa, Soon-Shiong is a doctor, biotech investor and philanthropist. He founded Abraxis BioScience Inc., a drug developer that he later sold. Forbes listed his net worth at $7 billion last year, making Soon-Shiong the richest man in Los Angeles.

If a deal for AEG goes through, it would mark the second blockbuster sports transaction in Southern California this year, following the $2.15-billion purchase of the Los Angeles Dodgers baseball team by Guggenheim Baseball Management. That was a world-record price for a sports franchise.

ALSO:

Owner of Staples Center, Kings up for sale

L.A. mayor knew of AEG sale for “for some time”

Advertisement

L.A. officials react to news of AEG being put up for sale

sam.farmer@latimes.com

ricardo.lopez2@latimes.com

walter.hamilton@latimes.com

More to Read

Business
Sam Farmer

Honored by the Pro Football Hall of Fame in recognition of his “long and distinguished reporting in the field of pro football,” Sam Farmer has covered the NFL for 25 seasons. A graduate of Occidental College, he’s a two-time winner of California Sportswriter of the Year and first place for beat writing by Associated Press Sports Editors.

Walter Hamilton

Walter Hamilton was a financial reporter in the Los Angeles Times’ Business section until September 2014.

Ricardo Lopez

Ricardo Lopez is a former staff writer for the Los Angeles Times.He previously was a morning breaking news writer who also covered the California economy. A Nevada native, he joined The Times in 2011 after graduating from the University of Nevada, Reno. He has previously worked as a reporter for newspapers in Minnesota, Virginia and Delaware.

More From the Los Angeles Times

Advertisement