Larry Ellison May Get a Piece of the Lakers

But a deal could cost at least $10 billion

   

larry ellison oracle 630 300x200 Larry Ellison May Get a Piece of the LakersLast week, Oracle’s (NASDAQ:ORCL) Larry Ellison had a great interview on CNBC. He talked about the cloud, his bitter rivals like SAP (NYSE:SAP), and his personal credit line of $4.5 billion. In fact, he even mentioned he’d like to buy the Los Angeles Lakers. Although, he said it would be “a very expensive way to get floor seats.”

Well, interestingly enough, he may get his wish — or at least part of it. According to Fox Business News, it looks like Ellison is mulling a bid for AEG, which includes the entertainment holdings of billionaire Phil Anschutz. The assets include a music promotion business, the LA Kings, the Staples (NASDAQ:SPLS) Center and yes, a stake in the Lakers.

The Blackstone Group (NYSE:BX) is handling the transaction. So far, most of the interested buyers are private equity operators like Guggenheim Partners, Thomas H. Lee Partners, Bain Capital and Colony Capital.

In fact, the valuation will start at a hefty $10 billion. But this should be no problem for Ellison. After all, he’s worth a cool $41 billion and has a knack for making big-time purchases. Hey, he recently purchased the Hawaiian island of Lanai for about $500 million.

Tom Taulli runs the InvestorPlace blog IPOPlaybook, a site dedicated to the hottest news and rumors about initial public offerings. He is also the author of “How to Create the Next Facebook.”  Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, http://investorplace.com/2012/10/now-larry-ellison-may-get-a-piece-of-the-lakers/.

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