Los Angeles News
LA stadium developers tweak pitch to city
LOS ANGELES (KABC) -- Development plans to bring an NFL stadium to downtown Los Angeles are being tweaked.
Developers with AEG told a town hall meeting that they are asking the city to issue less than $300 million in bonds for the project. They were originally going to ask for $350 million.
Developers also said the debt would be repaid by sharing advertising revenue and with property taxes.
AEG's $1 billion-plus plan for a 72,000-to-76,000 seat stadium on part of the city's convention center campus is one of two proposals to bring professional football back to Los Angeles, 15 years after the Rams and Raiders left the nation's second-largest market.
Warehouse magnate Ed Roski has permits in place to build a separate 75,000-seat stadium about 15 miles east of Los Angeles, in the city of Industry, but also hasn't secured a team.
Both camps have said they hope to recruit a franchise - and possibly two - from among those in the league that need a new stadium but are unable to get one built in their current locations. The San Diego Chargers, Oakland Raiders, Minnesota Vikings and Jacksonville Jaguars are among the teams mentioned as possible candidates.
The Associated Press contributed to this report.
nfl, downtown, los angeles news
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