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Kings, AEG no longer for sale

Thursday, 03.14.2013 / 5:15 PM / News

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Kings, AEG no longer for sale
AEG, which owns the Los Angeles Kings as well as other sports properties, no longer is being offered for sale, it was announced Thursday.

The Anschutz Entertainment Group Inc., which owns the Los Angeles Kings as well as other sports properties, no longer is being offered for sale, it was announced Thursday.

Also announced was the departure of company president Tim Leiweke, a key figure in the development of the 2012 Stanley Cup champion Kings.

"He was very adamant and very passionate about the Kings and everything that was what this organization was about," Kings captain Dustin Brown told the team's website of Leiweke. "I've been here for 10 years, and he was here in the beginning when we weren't very good, and he understands what that is like from his perspective.

"I think also from a players' perspective, we finally have gotten to a place as an organization where we're a playoff team. We won the Cup. I think a lot of the last five, six years is a result of Tim, and obviously him bringing on [general manager Dean Lombardi], and everything Dean's all about."

Leiweke, who served as president and chief executive officer of AEG since 1996, is leaving the company by mutual agreement, the statement said.

"We appreciate the role Tim has played in the development of AEG, and thank him for the many contributions he has made to the company. We wish him well in his new endeavors," AEG chairman Philip Anschutz said in the statement.

Anschutz said Dan Beckerman, AEG's chief financial officer, will assume Leiweke's role as president and CEO.

Besides the Kings, AEG owns the two-time Major League Soccer champion Los Angeles Galaxy, a portion of the Los Angeles Lakers, as well as the Staples Center, and a number of other arenas. They also are involved in talks to build a football stadium, Farmers Field, adjacent to Staples Center, with the hope of luring an NFL team to downtown Los Angeles.

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