Los Angeles Business Journal

AEG Evaluating Second Round of Bids

By Jonathan Polakoff Friday, February 22, 2013

Entertainment giant AEG is considering the second round of bids for its properties that include the Staples Center and Los Angeles Kings.

The New York Post reported Friday that two bids have been submitted and that both came in well below the company’s desired sale price of $10 billion. The bids were reported to be for less than $7 billion. Bids had been expected to fall in the range of $6 billion to $8 billion.

AEG was reportedly pleased with offers made in the first round of bidding, which concluded in December.

The reported second round bidders are New York financial services firm and Dodgers owner Guggenheim Partners and Qatar Sports Investment, which is partnering with Santa Monica real estate investment firm Colony Capital for its bid.

Another group is also reported to be bidding. That group includes supermarket magnate Ron Burkle, biomedical entrepreneur Patrick Soon-Shiong and Goldman Sachs.