Categorized | MLS, News

AEG, Galaxy up for Sale

Posted on 19 September 2012 by iyeo

Perhaps the most important man in the young history of Major League Soccer has put one of the league’s most valuable teams on the market.

Late yesterday, it was announced that Phillip Anschutz, the Denver-based billionaire in charge of Anschutz Entertainment Group, a sports and entertainment subsidiary of the Anschutz Corporation, announced that AEG, which owns the Los Angeles Galaxy and the Home Depot Center, in addition to numerous sports entities, would be put up for sale.

Anschutz is revered for investing in a sport, let alone a league, at a time when such an investment was considered risky. Anschutz was one of the co-founders of Major League Soccer in 1995 and its first franchise it owned was the Colorado Rapids. Anschutz eventually came to own the Galaxy as well as the Chicago Fire, DC United, Kansas City Wizards (now Sporting KC) and the New York Metrostars (now the NY Red Bulls). AEG also owned the San Jose Earthquakes when it moved to Houston and became the Dynamo in 2006 and won MLS Cups in 2006 and 2007 and a new Earthquakes franchise was eventually reborn in San Jose in time for the 2008 season. Overtime, Anschutz eventually divested himself of those teams and the Dynamo are in the process of being sold, most likely to Houston Rockets owner Leslie Alexander. AEG built the Home Depot Center in Carson, CA for the Galaxy in 2003 and paved the way for other Soccer-Specific-Stadium projects in Chicago, Houston and New York.

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