The chief executive of Guggenheim Partners, owners of the Los Angeles Dodgers, said in remarks published today that his group is considering whether to make a bid for AEG, which owns Staples Center, the Home Depot Center, the Kings, Lakers, Galaxy and which may acquire an NFL team to play in the stadium it plans to build in downtown L.A.
Guggenheim, which controls more than $160 billion in assets, according to its website, bought the Dodgers in May for $2.15 billion, a world record price for a sports franchise.
AEG executives have indicated they expect the company to sell for $5 billion to $7 billion.
Guggenheim Partners Chief Executive Mark Walter, who is also chairman of the Dodgers, said the possible “synergy” in marketing and sponsorship among the Los Angeles teams could make AEG an attractive investment, the Los Angeles Times reported. But because prospective bidders have yet to receive confidential financial information from AEG, he said he could not say for sure that a Guggenheim bid for AEG would make sense.
“We’re looking at AEG,” Walter said, according to The Times. “We’re looking at a lot of companies. We certainly don’t buy them all. Even if we thought it was a great company, you’ve got to look at it to know that.”
Walter denied reports that Guggenheim had partnered with Los Angeles billionaire Patrick Soon-Shiong.
Soon-Shiong is interested in bidding on AEG but has not committed to any partners, a person familiar with the sale process told The Times.