Anschutz makes demands for LA NFL stadium

The head of AEG has a big checkbook. With that comes the ability to dictate terms. As reported by the Los Angeles Business Journal, Phil Anschutz has laid out the conditions needed for him to drop some serious coin on the downtown, retractable roof stadium.

  • Agreements with various corporations for naming rights and other sponsorships that would bring in tens of millions of dollars in annual revenue.
  • A commitment from Los Angeles city officials for speedy approvals and $350 million in bonds to replace the West Hall of the city-owned Los Angeles Convention Center that would be torn down to make way for the stadium.
  • A commitment from an NFL team to move to Los Angeles.
  • A commitment from the NFL itself to approve an L.A. team.

Now that the future of redevelopment is uncertain, it would appear that the second item would be the toughest nut to crack. That $350 million would be paid off by a ticket surcharge, which translates to a RDA funding and a quasi-governmental stadium authority handling the bonds. The time crunch will make things really difficult, but knowing LA politics, I wouldn’t stack up all of my chips against it.

One thought on “Anschutz makes demands for LA NFL stadium

  1. Chargers and Raiders anyone?

    http://baseballsanjose.blogspot.com/2011/01/just-when-you-thought-things-couldnt.html

    Looks like at the very least Oakland has more trouble with their other outdoor team possibly following the A’s out of town…

    As for the Chargers, to listen to talk radio down in SD you’d think the team has already left. And apparently the threats to leave are being taken so seriously that season ticket sales declines are being blamed on the threats by many fans.

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