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AEG takes down for sale sign as CEO leaves

Tim Leiweke has left the Anschutz Entertainment Group (AEG) by mutual agreement just two months after being honoured as the 2012 Sports Executive of the Year during the 8th Annual LA Sports Awards.

AEG operates venues all over the world, including Ulker Arena, Istanbul.

AEG operates venues all over the world, including Ulker Arena, Istanbul.

Leiweke’s departure, and an AEG management shake-up, both follow The Anschutz Company’s decision to retain ownership of AEG in the absence of any acceptable bid or buyer coming forward. AEG announced that Philip F. Anschutz, as Chairman of AEG, will resume a more active role in the Company, with a particular focus on the Company’s world-wide strategy and operations. Dan Beckerman will assume the position of President and Chief Executive Officer of the Company.

Ted Fikre will become Vice Chairman of the Company and continue as AEG’s Chief Legal and Development Officer, as well as assume responsibility for AEG’s Governmental and Media Relations. Jay Marciano, currently President and Chief Executive Officer of AEG Europe, will relocate from London to Los Angeles to assume the role of Chief Operating Officer.

Anschutz said:

The Company’s operations will continue to be run by AEG’s experienced senior executive team, most of whom have been with AEG for over a decade. We will continue to set the standards in the industries in which AEG operates, bringing our unique vision and development model to entertainment locations throughout the world.

Beckerman noted:

Phil’s active reengagement in the operations of the Company has brought a renewed spirit and passion to the management team’s focus on AEG’s next steps. Priority projects going forward include the development of Farmers Field adjacent to our L.A. Live campus and the pursuit of our plan to bring the NFL back to Los Angeles, our recently announced initiative to collaborate with MGM to build a new arena in Las Vegas, the acquisition of ownership stakes and the associated refurbishment of several major global arenas in Europe and our ongoing investment in AXS.com, our ticketing and e-commerce platform, as we expand its capabilities for the benefit of our venues, partners, performers and consumer end-users.

There have been reports in southern California recently suggesting that the prospects of bringing a NFL team to Los Angeles were being harmed by uncertainty over AEG ownership.