NFL Stadium Agreements Approved After Apologies From AEG’s CEO
LOS ANGELES (CBSLA.com) — Several agreements dealing with the NFL stadium proposed for downtown Los Angeles were approved Monday, amid apologies for any turmoil caused by last week’s news that AEG is for sale.
Before the committee could address the agreements, AEG CEO Tim Leiweke first apologized for “the disturbance and disruption of the process” caused by news that Anschutz Co. was looking to sell the company, KNX 1070’s Ed Mertz reported.
When asked why the company is for sale now, Leiweke did not mention any concern over the financing of the stadium deal. Instead, he mentioned another number.
“Mr. Anschutz would be 128 years old by the end of that land lease,” Leiweke said.
Leiweke says AEG would be committed to the deal, even if it is sold. Leiweke also told the committee that he and his management team have committed long-term to working at AEG, according to the Los Angeles Times.
Before the vote, the city’s Chief Legislative Analyst Gerry Miller urged the council to focus on the goal of the proposed Farmer’s Field project.
“What this is all about is leveraging an NFL franchise and the construction of an events center to upgrade and expand the convention center to make it competitive,” Miller said. “From the city’s standpoint, that’s what this is all about.”
The package of agreements, which includes the project’s environmental impact report, now goes to the full council for a final vote Friday.