Report: Los Angeles Kings may be up for sale after Stanley Cup Final
This is the Golden Age of Los Angeles Kings hockey as the franchise is three more wins away from their Stanley Cup in the past two seasons and as a result of the team’s recent success, the franchise may be put up for sale following the Stanley Cup Final, according to Josh Kosman of the New York Post.
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Kings controlling company head, AEG boss Philip Anshutz, is contemplating a sale of the the franchise per Kosman’s report in the Post.
"“I can assure you there will be a de-coupling of [AEG’s] content from real estate,” one well-placed banker said. A sports banker said the NHL’s Western Conference champ, which is battling the hometown Rangers for ice hockey supremacy, has been essentially for sale for the past five years for anyone having interest in buying the money-losing team.”"
Another factor in a potential sale of the franchise is the recent amount another Staples Center tenant received for the sale of their franchise as the Los Angeles Clippers were sold for an NBA-record $2 billion. Steve Ballmer purchased the franchise from Donald Sterling who let his estranged wife facilitate the sale of the franchise following his lifetime ban from NBA commissioner Adam Silver following his racist comments.
Now could be a great time for the Kings to sell high if the franchise wins a second Stanley Cup in three years with television ratings showing the excitement in the franchise is real and the future looking bright for the team.
According to the Post, Morgan Stanley is readying potential suitors, a third banking source said. The bank declined to comment and AEG disputed the sources with chief legal officer Ted Fikre telling the Post the company isn’t interested in parting ways with any of its sports franchises right now.