By Mark Baber
March 15 – Anschutz Entertainment Group (AEG), the multinational corporate behemoth which owns the Los Angeles Galaxy, is no longer for sale and CEO Tim Leiweke has stepped down by “mutual agreement”.
Leiweke, a keen soccer fan, had been in his position since 1996, and has been extremely influential in the development of the MLS and the LA Galaxy including bringing in David Beckham and Robbie Keane. At one stage AEG saved MLS by owning six teams in the league.
In a statement Anschutz said: “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 endeavours.”
“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.”
AEG owns more than 120 arenas, stadiums, and theatres worldwide as well as the Galaxy, LA Lakers (basketball) and LA Kings (ice hockey) half of the Houston Dynamo and AEG Live, the world’s second largest concert promotion and touring company.
Tim Leiweke, who has received plaudits from many inside MLS, will be proud to have spent his last evening as president and chief executive of AEG watching Galaxy defeat Costa Rica’s Herediano 4-1 to go through to meet Monterrey in the semi-finals of the CONCACAF Champions League.
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