Are the LA Kings for sale again? Good things come to those who wait, especially for Philip Anschutz, owner AEG. The sports and entertainment company owning 90% of the Kings, was for sale at a listed price of $10 billion. Anschutz removed AEG off the market in 2012 after the first Kings’ Stanley Cup win. The good thing is, the value of the franchise has increased tremendously and the question is will the Kings be for sale again after the winning of another Cup this season?
The New York Post reported a sports banker announcing the NHL’s Western Conference champs have essentially been for sale the past five years. Another banking source told The Post Morgan Stanley is readying perspective buyers. A spokesman for AEG denied the reports making us wonder if this is truth or hype.
Currently, the LA Kings’ home games at the Staples Center reach $2 million during the playoffs and they hosted at least 9 games in 3 consecutive seasons. The Kings’ ticket prices were hiked up after their last Cup making them the fifth-most expensive among United States teams in the NHL at $382 average cost for a family of four to attend a game at the Staples Center for tickets, concessions, parking and merchandise. With reports of the NBA’s LA Clippers being worth $2 billion, Anschutz is hoping he has a franchise worth at least that much. Forbes valued the Kings at $450 million in 2013 before the possibility of their second Cup. Anschutz purchased the Kings in 1995 for $113 million.
The truth is, the sale of the LA Kings would be very profitable if the projected price comparison between the Clippers and Kings is correct. The hype is, the sale being brought up during the highlight of the Kings possibility of winning their second cup when ticket prices are at their peak. My thought is simple. Everything is for sale, for the right price, but we’ll have to wait and see.