Anschutz Entertainment Group, the owner of the Staples Center arena and the NHL’s Los Angeles Kings, and the top contender to build a stadium and bring the NFL back to Los Angeles, is up for sale, its parent company said Tuesday.

The Denver-based Anschutz Co. said in a statement that it is “commencing a process” to sell the subsidiary known as AEG and had hired Blackstone Advisory Partners as an adviser.

It wasn’t immediately clear how far along the company is in the sale process, or whether it has entertained any offers, but the price for AEG could be well into the billions.

The sale would mean a major ground shift in sports and entertainment in Los Angeles and around the world.

– Reported by the Associated Press