LA Officials Endorse Framework Deal For NFL Venue

LOS ANGELES (AP) — A Los Angeles City Council committee has endorsed a tentative framework agreement with a private developer that wants to build a 72,000-seat NFL stadium on the city’s convention center campus.

The stadium committee’s vote Wednesday sends the non-binding memorandum of understanding with Anschutz Entertainment Group to the full council for a final vote next week.

The agreement calls for the issuance of $275 million in tax-exempt bonds for the relocation of a convention center hall to accommodate the proposed $1.2-million football venue.

It requires AEG to extend a series of financial guarantees over the course of the project as a safeguard against shortfalls and other risks.

Comments

One Comment

  1. Hollywood Reporter says:

    Los Angeles City Council are a group of self serving morans , all yelling hey look what I did , and thanks taxpayers.

    1. Los Angeles Chargers Fan says:

      Bring the Los Angeles Chargers back home to Los Angeles. Fifty years is a long time to be away from home.

      1. Vivo says:

        The Chargers were never L.A. 1 year in L.A. doesn’t mean squat. Be real.

    2. Evil Grammar Nazi says:

      It is “morons” not “morans”.

  2. Phiilip says:

    LA lost the RAMS to Anaheim and them to St. Louis because they refused to build a modern stadium. Then they lost the RAIDERS back to Oakland because they wouldn’t build a modern stadium. Instead, they went on & on about retro fitting the Coliseum. And now in order to beg an NFL team to come here, we are forced to build a new stadium. We have the real estate..why not demolish the coliseum and start over?

  3. Vivo says:

    I agree with you, Phil. The Los Angeles Coliseum is a dump. Has been the road block for 16 years. The damn city council couldn’t make up their minds about rennovating the Coliseum, or errecting a new one. Thank goodness AEG is here to bring the NFL back to Los Angeles! Go Raiders!

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