Private equity firms linked with billionaire Paul Anschutz’s sport and entertainment business AEG could have to part with $10bn for the business, it is understood.
But they will have to pay almost double the $6bn-figure touted around last month for the company, the auction for which Anschutz, pictured, has now kicked off.
Guggenheim Partners and Liberty Media Corp have also been linked to the sale, Reuters said, adding the 25-page information memorandum had gone out to “dozens” of potential buyers.
The giant company owns a string of sports teams and venues and is one of the largest live music and entertainment providers in the world.
Its holdings include complete ownership of the LA Galaxy football team and a stake in the LA Lakers.
Blackstone Advisory Partners was said to be compiling a list of potential buyers including sovereign wealth funds, buyout firms, large pension funds and strategics.
Copyright © 2012 AltAssets