Oscar De La Hoya's Golden Boy Promotions will be seeing at least some type of change in the near future, with company shareholder AEG to be sold. (Photo by Ed Mulholland-US PRESSWIRE)
The Los Angeles Times reports that Anschutz Co. is seeking a buyer for its AEG subsidiary, which you may recall in 2008 bought ownership shares of Golden Boy Promotions, and became the second-largest shareholder of that company, behind only Oscar De La Hoya.
AEG also owns the Staples Center and Home Depot Center, which have been boxing-friendly venues for years now, as well as shares of the NHL's Los Angeles Kings and the LA Galaxy of MLS. The group also has designs on building a football stadium in Los Angeles, hopefully home to a future NFL team.
It's believed that AEG could be sold for $2 billion.
Tim Leiweke, President and CEO of AEG, said in a press release:
"Our sports properties and teams are only beginning to take advantage of international expansion, and new growth vehicles such as AXS Ticketing, AXS TV and the real estate holdings associated with our venues have the potential to further accelerate our growth. And of course, the new owner will have the historic opportunity to benefit from AEG's strategy to reunite Los Angeles with the NFL, as AEG moves forward with its efforts to bring an NFL franchise to Farmers Field to be built at L.A. LIVE."
I can't tell you how this might affect the future of Golden Boy Promotions, or what Oscar De La Hoya, Richard Schaefer, or the Brener group (the other major shareholders) might be thinking about doing in this situation. It's far from my area of expertise. But it's certainly something worth keeping an eye on, as any move could be pretty notable for one of the world's premier boxing promotional outfits.