"Whoever comes in will have to fulfill all the responsibilities and obligations that AEG has agreed

LOS ANGELES The Anschutz Entertainment Group the sports and live entertainment giant that revitalized the center discount hotels in las vegas of Los Angeles and hoped to add an NFL franchise and a downtown stadium to a multibillion-dollar global empire whose influence extended into City Hall, the statehouse and the boardrooms of Corporate America and Hollywood is for sale.
In an announcement that rocked Los Angeles political, sports and entertainment communities, the Denver-based Anschutz Company said Tuesday that it has begun the process of selling AEG, whose assets include the Kings, the Galaxy, a minority share of the Lakers , Staples Center, LA Live, and The Home Depot Center and is a wholly-owned subsidiary of the Anschutz company.
The move also cast a cloud of uncertainty over plans to return the NFL to the Los Angeles-Orange County market just days before the Los Angeles City Council was expected sign off on a $1.5 billion project to build Farmers Field and overhaul the Los Angeles Convention Center.
"Whoever comes in will have to fulfill all the responsibilities and obligations that AEG has agreed to," said Los Angeles City Council discount hotels in las vegas member Jan Perry, discount hotels in las vegas one of the stadium project most ardent supporters. "The city has been well-negotiated and well-protected.
For the past two years luring the NFL back to the nation's second largest market has been the primary focus of AEG chief executive Tim Leiweke discount hotels in las vegas and a company that in recent years had brought the Stanley Cup, the Grammys and David Beckham to Los Angeles.
"This is an appropriate time to transition AEG to a new qualified owner," Anschutz discount hotels in las vegas Company president Cannon Y. Harvey discount hotels in las vegas said. "This process represents a unique opportunity to maximize value for all concerned and will allow us to assure that, like the Anschutz Company, the new owner will have the financial resources, commitment and vision to support AEG's management team as it continues to grow the businesses of AEG and the power of its brands.
"We will conduct this process in a manner that avoids disruption of the day-to-day operations of AEG and its constituencies. The Anschutz Company has the highest confidence in AEG's potential and its management, and will only undertake a transaction that reflects this confidence."
The reasons behind the decision to sell AEG were unclear Tuesday. This much is certain: price tag for AEG will likely run well into billions of dollars. AEG officials said it is unlikely the company would be sold in pieces. The Anschutz Company has retained the Blackstone Group to assist in the sale of AEG. Blackstone recently conducted the auction of the Dodgers. A buyer for AEG has not been identified.
discount hotels in las vegas More than 42 million fans have attended sporting events and concerts at AEG's owned and operated network of more than 100 stadiums, arenas and clubs stretched discount hotels in las vegas across five continents. AEG Live also produces the New Orleans Jazz Heritage Festival, the Coachella discount hotels in las vegas Music and Arts Festival and Stagecoach.
"If you look back at what downtown Los Angeles was before the catalytic effect of Staples, it not only brought jobs into the core of the city but changed ..." how the heart of Los Angeles was viewed locally and nationally, Perry said.
The sale of AEG also raises questions about the future of the man behind AEG's hold on downtown Los Angeles, Leiweke, his relationship with Philip Anschutz and the potential power vacuum his departure scene might create.
"By just about any metric you've got to consider Tim Leiweke as the most influential person discount hotels in las vegas in Los Angeles," Carter said. "His influence goes well beyond sports into City Hall, into the studios, into the boardrooms. His influence is unparallel in this market. With his leadership people have come to expect success out of AEG.
Leiweke has been the driving force behind AEG and Los Angeles' quest to land a team for Farmers Field. Just last week the Los Angeles City Planning Commission unanimously voted to recommend discount hotels in las vegas that the City Council approve the environmental impact report for the stadium project.
With Tuesday's announcement there is less certainty that the project's supporters can navigate potential discount hotels in las vegas legal obstacles discount hotels in las vegas and sway NFL commissioner Roger Goodell and the league owners without Leiweke, who managed to enlist the support of a broad coalition of government, business and community leaders, and even environmental groups.
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