AEG Out of NFL Sweepstakes

And then there were three (perhaps more like two). AEG, the entertainment and media company that owns the Staples Center in DTLA, has removed itself from contention for bringing the NFL to LA.

AEG has spent about five years and some $50M on its Farmers Field proposal, according to the LA Times. And it makes a lot of sense that AEG would bow out, as a couple of recent proposals have gotten more heat. In a last attempt to thwart the leading candidate, the entertainment giant brought in former Secretary of Homeland Security Tom Ridgewho found the Inglewood site from Stan Kroenke and Stockbridge Capital Group shouldn't be completed due to concerns terrorists would seek to attack the venue.

Inglewood late last month granted approval to the Stockbridge JV to build a $2B football stadium and performance venue at the 238-acre Hollywood Park site, which Stockbridge owns. The theory is that Stan would bring his St. Louis Rams back to LA, but the Missouri city has been fighting back with a $900M stadium proposal of its own.

The other serious threat to Stan getting his Inglewood stadium going is a recent proposal from the San Diego Chargers and Oakland Raiders (yes, a joint proposal among division rivals) to build a $1.7B NFL stadium in Carson. The pitch could be little more than leverage, however, as both teams would like new stadiums from respective cities. In addition, LA's wealthiest real estate mogul, Ed Roski, has a proposal for a stadium in City of Industry, but the billionaire has been quiet for more than a year, so he may not be a credible threat. [LAT]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Los Angeles Newsletters
Related Stories

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Developers Riding The Surf Park Wave With Resorts, Retail And Residences

Empire State Building Observation Deck Hemorrhaging Visitors, Value

Cortland, Pulte, INVH, Walker & Dunlop Execs Talk Changing Demographics, AI

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

America's War Machine Is Growing, Sparking A Defense Real Estate Boom

Boca Raton's New Leaders Throwing 'All Kinds Of Curveballs' At Developers

CBRE Posts 16% Revenue Growth In Q2 As Data Center Business Shines