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.

Trending Discussions

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

Join SB Nation Los Angeles

You must be a member of SB Nation Los Angeles to participate.

We have our own Community Guidelines at SB Nation Los Angeles. You should read them.

Join SB Nation Los Angeles

You must be a member of SB Nation Los Angeles to participate.

We have our own Community Guidelines at SB Nation Los Angeles. You should read them.

Spinner

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.