Anschutz Draws List of Preferred Buyers

By Marc Castro

Mar 02, 2013 12:28 AM EST

A list of potential buyers for Anschutz Entertainment Group has been drawn up by Phil Anschutz.  Sources familiar with the negotiations told Reuters that the negotiations can be concluded for the sports and real estate empire within the next few weeks.

Second round bids have been made by Colony Capital LLC with the sovereign wealth fund of Qatar, Guggenheim Partners LLC and biotech billionaire Patrick Soon-Shiong. All three are still active in the negotiations despite submitting non-binding offers estimated at US$7billion for AEG. The AEG portfolio includes sports teams, venue arenas and a music touring business.

Blackstone Group LP, Anschutz's adviser in the negotiations, is looking between a high single digit to a low double digit offer in the billions.

AEG controls the LA Kings of the NHL and two Major League soccer teams. Since they are sports teams, there are issues of concern, mainly its true value and the approval of the respective leagues as to the sale of the franchise to new ownership.

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