Ellison reportedly mulls bid for sports-entertainment empire
Oracle's chief has shown initial interest in AEG, whose assets include stakes in the LA Lakers and LA Kings, sources tell Reuters.
Larry Ellison has apparently not given up on his dream of owning an NBA team.
The Oracle chief executive is considering a potential bid for Anschutz Entertainment Group, a sports and entertainment empire that holds an ownership stake in the Los Angeles Lakers, according to a Reuters report. Ellison, who recently , would likely have to pony up around $10 billion for AEG, which is owned by fellow billionaire Phil Anschutz.
CNET has contacted Oracle for comment and will update this report when we learn more.
In addition to its interest in the Lakers, AEG has a stake in the Los Angeles Kings professional hockey team, more than 100 entertainment and sports venues worldwide, and the AEG Live concert promotion business. Reuters reported that one of Ellison's key interests in AEG is the ability it would give him to buy and relocate an NFL team to Los Angeles.
In 2010, Ellison was reportedly actively bidding for the Golden State Warriors, an NBA team that plays at the Oracle Arena in Oakland, Calif. -- across the Bay from Oracle's Redwood Shores, Calif., headquarters. However,that included Joseph Lacob, managing director and partner at Silicon Valley venture capital company Kleiner Perkins Caufield & Byers.
He also reportedly showed interest in the Memphis Grizzlies but never made an official bid.
Reuters sources caution that Ellison's interest in AEG is preliminary and notes that the Oracle chief's name is among a growing list of billionaires, private equity firms, and investment firms showing interest in the business.