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Los Angeles private-equity firm Colony Capital expected to bid for AEG

Colony-Capital

Colony Capital and its Chairman, Tom Barrack, are reportedly among the bidders for sports and entertainment giant AEG.

Anschutz Entertainment Group, lovingly referred by every sport and concert fan in the Southland as AEG, has put itself up for sale. This is potentially a true humdinger of a deal for Phil Anschutz, the reclusive Denver billionaire who started AEG a decade-and-a-half ago and has — with this considerable assistance of Tim Leiweke, who has run AEG day to day — build the enterprise up into a giant that could be worth anywhere from $4 to $8 billion, according to various reports, speculations, and back-of-the-envelope math on the privately held and somewhat secretive company.

The bidders are lining up, led by the richest man in L.A., Patrick Soon-Shiong, who took a shot at the Dodgers earlier this year and already owns a small stake in the Lakers (AEG owns a third of the team). His $7-billion-plus net worth wasn't enough to get to the finish line, however, even in partnership with $8-billion-plus-net-worth hedge funder Steve Cohen. 

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