Sprint Center Parent, AEG, Is No Longer For Sale, Leiweke Is Out As CEO

Denver billionaire Philip Anschutz announced Thursday he's terminating sale plans for his Los Angeles-based Anschutz Entertainment Group.
Anschutz, who put his holdings of sports teams and entertainment venues up for sale last year, now says he intends to take a more active role in the company. Anschutz is chairman of AEG.
“From the very beginning of the sales process, we have made it clear to our employees and partners throughout the world that unless the right buyer came forward with a transaction on acceptable terms we would not sell the company,” Anschutz said in a statement.
AEG owns a collection of sports teams and arenas, including the Los Angeles Kings and Los Angeles Galaxy, as well as Staples Center and L.A. Live.
Anschutz was expected to get at least $7 billion from the sale of AEG. Sports Illustrated this month ranked Anschutz as the third-most powerful person in sports, because the magazine considered the sale of the company "will be the blockbuster sports transaction of 2013."
Tim Leiweke, president and CEO of AEG since 1996, will be leaving the company. That decision was a mutual one, according to the statement from Anschutz.
“We appreciate the role Tim has played in the development of AEG, and thank him for the many contributions he has made to the company. We wish him well in his new endeavors,” Anschutz said.
Dan Beckerman will take over as president and CEO. He joined AEG in 1997 as CFO of the Kings and as CFO and COO of AEG.
Ted Fikre, who also joined as AEG in 1997, will become vice chairman and continue in his current role as chief legal and development officer. Jay Marciano, currently president and CEO of AEG Europe, will move to Los Angeles from London to become COO of AEG.