Los Angeles City Administrative Officer Miguel Santana talks with NBC4's Conan Nolan in this episode of News Conference about the ramifications of the pending AEG sale and its impacts on the proposed downtown football stadium "Farmers Field."
Denver-based Anschutz Co.’s putting itself on the block has complicated the plan to bring a professional football team to Los Angeles.
It’s raised questions that may be left unanswered for months. Will the new buyers be keen on the NFL-in-LA project? How much longer will LA football fans have to wait for the plan to finally come to fruition?
“We always knew AEG would go through multiple hands,” Los Angeles Chief Administrative Officer Miguel Santana told NBC4’s Conan Nolan. “This marriage is really a long term marriage.”
Whoever picks up the entertainment empire will have to have deep pockets. AEG’s buildings alone – which include the Staples Center and LA Live – are worth in excess of $2 billion, according to Forbes.
Sources close to the deal say AEG has indicated privately that it expects to sell for $5 billion to $7 billion, though no official price has been set, according to the Los Angeles Times.