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AEG to Sell D.C. United for $33 Million

Anschutz Entertainment Group is reportedly close to selling Major League Soccer club D.C. United to Durham, N.C.-based Blue Devil Ventures. Brian Davis, managing partner of the VC firm, said a deal would be announced later this month that the team would be sold for $33 million. D.C. United has been on the block for nearly a year. A $26 million deal between AEG and a Virginia investment group fell apart in January. D.C. United is one of the few Anschutz teams without a soccer-specific stadium, which is thought to be central to the company's strategy to make money. Nevertheless, United is MLS's most successful team, having won four league championships in 10 years. The sale of United would be AEG's second of the year. In March, it sold rights to the MetroStars to Red Bull, the Austrian energy drink maker, which has since renamed and rebranded the team. However, AEG retained a 50 percent stake in the stadium that's being built in Harrison, N.J. At one point, AEG owned the rights to six MLS teams. It now owns three. Investor Philip Anschutz has a hand in many industries, including movie theaters, railroads, sports teams and oil. AEG owns four MLS teams: D.C. United, the Chicago Fire, the Los Angeles Galaxy and the Houston Dynamo, the NHL's Los Angeles Kings and a stake in the NBA's Los Angeles Lakers.

Read the whole story at Rocky Mountain News »

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