Chris McGowan leaves AEG to become President & CEO of Portland Trail Blazers

The longtime executive with the Los Angeles Kings and LA Galaxy spent 17 years with AEG Sports. McGowan will begin his new position in Portland on November 12.

Patrick Soon-Shiong, Guggenheim Reportedly Set To Make AEG Bid

Patrick Soon-Shiong, a Los Angeles billionaire, will lead an investment group in a bid to purchase the newly available Anschutz Entertainment Group, the notable sports and real estate company that owns Staples Center, according to a Reuters report.

Soon-Shiong's wealth is valued at over $7.2 billion. He is said to have united with a private equity firm, Guggenheim Partners, in a plan to make a bid for the corporation. Guggenheim recently led a group that included Magic Johnson in the successful sale of the Los Angeles Dodgers.

AEG controls the Los Angeles Kings in addition to Staples Center and over 120 other sports and entertainment venues around the world.

The news is significant because Soon-Shiong is a sports fan who owns part of the Los Angeles Lakers and is thought to be a major proponent of bringing a NFL franchise to Los Angeles, according to sources.

A former UCLA professor and surgeon, he started and sold two pharmaceutical companies for a combined $8.6 billon and is the wealthiest person in Los Angeles according to Forbes Magazine.

This story originally appeared on SBNation.com.

Anschutz Sells AEG: More Details On Sale, Effect On NHL CBA Dealings

Here are some more details of the sale of AEG by the Anschutz Company. The Fourth Period has a more extensive report that details the effects this sale will have on the NHL.

The NHL apparently already knew of the sale before the news broke in big publications like the New York Times and the Wall Street. The sale appears to have no impact in the current CBA talks that keep the NHL lockout going. While the announcement should have little effect CBA negotiations, it sets up an intriguing scenario regarding the current teams in play.

AEG also is the arena operator of the Globe in Stockholm, O.co Coliseum in Oakland, and the Los Angeles Galaxy in addtion to these other valuable Los Angeles properties.

Apparently, there will be no change in the job status of any of the employees. Here is some of the information from an internal memo to AEG employees.

- "The Anschutz Company and AEG, a wholly owned subsidiary of the Anschutz Company, today announced that the Anschutz Company is commencing a process to sell AEG."

- "The Anschutz Company will undertake the sale to the qualified party best able to reflect the full value of AEG and fully committed to working with AEG's management team as it pursues its long-term business objectives."

Talk about the news with Kings fans at Jewels From the Crown.

AEG, Owners Of Staples Center And Kings, Sold By Anschutz

AEG is planning to sell the Staples Center and the Los Angeles Kings hockey team.