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March 14, 2013 10:21 am

Anschutz decides not to sell AEG

The sale of Anschutz Entertainment Group by Los Angeles Kings owner Philip F. Anschutz will not take place, the company announced Thursday.

Dan Beckerman will become president and CEO of the company, while Tim Leiweke will leave the company under a “mutual agreement”.

Leiweke had served as the company’s president and CEO since 1996 and had been a driving force in the Los Angeles Kings’ off-ice associations.

“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” Mr. Anschutz said in a statement, linked by Daniel Kaplan of the Sports Business Journal.

There shouldn’t be a profound impact on the hockey operations of the Los Angeles Kings, as Dean Lombardi (President/General Manager, Alternate Governor) and Darryl Sutter (Head Coach) received January contract extensions. Luc Robitaille (President, Business Operations, Alternate Governor) also received a contract extension in January.

The extensions of those contracts “has created great predictability and certainty no matter who the owners are,” Leiweke told Helene Elliott of the LA Times in January.

More updates to come throughout the day.

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