Andell Holdings now holds Chicago Fire

Philip Anschutz's AEG has sold its holdings in the MLS Chicago Fire, as it tries to trim MLS clubs from its roster.

Los Angeles-based Andell Holdings now will run the Fire, purchased for an undisclosed amount, though D.C. United was sold for USD 33 million last year. Andell said it would plan no major changes.

AEG, which runs MLS clubs in Houston and Los Angeles, wanted to reduce the number of teams it operates, read a statement issued by company Chief Executive Officer Timothy Leiweke.

Randy Campbell, whose investment bank, Societe Generale, reviews sports-business opportunities, believes MLS franchises could rise in value faster than others in U.S. sports. The MLS obviously agrees, raising its franchise fee by three times the original amount to USD 30 million for new clubs.

Andrew Hauptman, Andell's chairman and CEO, said his company was in sole control.

"The Fire is the first sports team we have ever purchased, and we see it as a great opportunity," Hauptman said. "The purchase reflects a passion for what is the global game as well as our business judgment that it's a good investment. We're looking forward to seeing it grow in the U.S. further, and to be able to do it in one of the truly great sports cities of the country was very attractive to me. "Presently, there are no other sports teams we are considering buying."

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.