Saturday, February 23, 2013

Bidding for Staples Center Parent Company Enters Second Round

The New York Post reports that bidding for Anschutz Entertainment Group ('AEG') has entered its second round.  In addition to the LA Kings, LA Galaxy, and partial control of the LA Lakers, Los Angeles based AEG owns the O2 Arena, and the Staples Center.  Guggenheim Partners, one of the few bidders to make the second round, recently acquired ownership of Dodgers Stadium.  As the local economy improves, sports arenas, such as the Staples Center and Dodgers Stadium, will see a large opportunity to seize on increased consumer spending.