Anschutz Entertainment Group is trying build an NFL stadium in Los Angeles. Unfortunately for them, the league still doesn’t see their plan as workable, sources told Jason Cole of Yahoo! Sports. Despite support from L.A. City Council, the new stadium to be named Farmers Field just isn’t cost effective, the sources said.
L.A. NFL stadium proposal falls through, per report
The NFL reportedly remains skeptical about AEG’s plans to build an NFL stadium in Los Angeles.
Kevork Djansezian
“The numbers just don’t work, no matter how you look at the deal,” a league source said in February. “It’s either too hard for AEG to make money [and pay the debt on the stadium] or too hard for the team. I just can’t see a way for it to work.”
The plans would build a facility across the street from Staples Center where a convention center currently stands. Cole’s sources expressed doubts about the amount of space available, however, not to mention the expense. According to report from last November, other considerations would include the development of local housing, businesses and transportation to the stadium.
Also complicating matters is that AEG is currently up for sale. Phil Anschutz estimated the company’s value at $10 billion in October, but incoming bids have been in the $6-8 billion range. The future of the company could have a big impact on how soon an NFL franchise lands in Los Angeles.
In the meantime, the NFL is reportedly mulling over other sites for the stadium. An official statement from NFL spokesman Brian McCarthy maintained simply that the league was monitoring AEG closely.
More in the NBA:
See More:
