Report: Los Angeles Kings owner considers sale of Stanley Cup finalist
NHL Commissioner Gary Bettman said on Wednesday that if the NBA's Los Angeles Clippers are worth $2 billion, then he has a few franchises worth at least that much.
Philip Anschutz must be hoping that his team is one of them.
Anschutz, whose worldwide sports holdings include the Los Angeles Kings, is reportedly considering selling the franchise he’s owned since 1995 once the Stanley Cup Final is over.
A sports banker told the New York Post that the NHL’s Western Conference champions have been essentially for sale for the past five years, but the Clippers' price tag suggests the iron is hot. He characterized the Kings as "a money-losing team."
Morgan Stanley is readying potential suitors, another banking source told The Post.
A spokesman for Anschutz's company, AEG, denied the report.
“AEG has no interest in auctioning any of its sports teams currently or at any time in the near future,” Ted Fikre, AEG’s chief legal officer, told The Post. Forbes valued the Kings at $450 million in 2013, but that was before the effects of the most recent CBA took hold and does not factor in revenues from the new Canadian TV deal. The Clippers were valued by Forbes at $575 million before they were sold recently to Steve Ballmer.