GABRIEL BOUYS/AFP/Getty Images
AEG President and CEO Tim Leiweke gives a press conference in front of the Staples Center in Los Angeles, California on July 3, 2009.
Last September, billionaire Phillip Anshutz put his sports and entertainment giant AEG for sale. The $10 billion price tag included the L.A. Kings hockey team, the Staples Center and AEG Live, the 2nd largest presenter of live music in the world.
But no one ponied up the cash.
So, it wasn't surprising when yesterday Anshutz took the "for sale" sign off AEG's window. The surprise was that Tim Leiweke, the president and CEO of AEG, resigned.
L.A. Live was Leiweke's baby, and he was the biggest cheerleader for bringing a football stadium to downtown LA. So what happened?
To explain, we're joined by Arash Markazi, columist for ESPN Los Angeles.