City of Los Angeles Slows Down Football Stadium Deal

Los Angeles officials have put the brakes on a plan to build a National Football League stadium in the city amid concerns over taxpayer dollars according to Hannah Karp of the Wall Street Journal.

Anschutz Entertainment Group is proposing to build a $1 billion stadium for a potential NFL team in downtown Los Angeles in a deal that would ask the city to issue nearly $300 million in bonds.

The chairwoman of the city council’s stadium committee had hoped the council would agree on the general principles of the deal and a rough financial contract by late July after her group met twice more privately.

Last week, however, another member of the five-person stadium committee instead called for an open and televised meeting with AEG at the end of the month for the entire city council. On Tuesday, the council’s president agreed to schedule that discussion for July 29 and promised that members wouldn’t be asked to vote that day.

AEG threatened last month to rescind its proposal for the stadium if the city couldn’t approve it before the council’s summer recess in August.

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2 Responses to “City of Los Angeles Slows Down Football Stadium Deal”

  1. Tim says:

    the STADIUM IMAGE shown is Majestic’s proposed stadium in Grand Crossing (City of Industry)

    • Larry says:

      I 2nd that Tim…the picture posted is the proposed stadium in the City of Industry, not the “Farmers Stadium” downtown.