LOS ANGELES -- Sports giant Anschutz Entertainment Group has reached a preliminary agreement to sell its stake in the Chicago Fire soccer team to Los Angeles-based Andell Holdings.
"The transaction is expected to be completed within 30-to-45 days and is subject to various closing conditions,'' including approval by Major League Soccer, Andell said in a statement this week.
Financial terms were not disclosed. However, in January AEG sold the operating rights to DC United for a league-record $33 million.
Los Angeles-based AEG has interests in two other MLS teams, the Los Angeles Galaxy and Houston Dynamo, as well as Chivas USA and Hammarby Football Club in Sweden.
Andell is a private investment firm doing business internationally.
Copyright 2007 by The Associated Press