The hearing is just for show, for public consumption, a public relations exercise that has been orchestrated for months by Mr.
#Deep sea tycoon item crashes game full
Two years in the making in back rooms, the deal is up for its first formal public hearing on Wednesday before Janice Hahn’s Trade, Commerce and Tourism Committee - an important first step since Leiweke has only given the city two more months to provide him with full approval of the whole deal. The biggest giveaway of all is now on the table: Turning over the LA Convention Center to billionaire AEG’s Phil Anschutz to tear down half of it and build an NFL stadium. LABJRon Kaye, former editor of the Los Angeles Daily News who now writes at, posted his reaction Tuesday morning online and included a Chargers reference.
chief’s bid to build a football stadium next to Staples Center, but according to Tim Leiweke has conditions including that an NFL team be secured before any work begins. delivered a morning sermon at Woodland Hills Community Church and then addressed the community that afternoon at Canoga Park High School. One,, listed it as the second item in a news of the day post called “Morning Buzz,” beneath an item on Martin Luther King Jr. In Los Angeles, numerous real estate and city blogs linked to the Business Journal Monday. Leiweke said that AEG is trying to meet three of these four conditions by a self-imposed March deadline the agreement from the league would likely have to wait for the owners to conclude negotiations with players over a new contract.(Don’t want to beat a dead horse here, but asked if there was “any chance” the Chargers could decide to leave San Diego to go to LA by March for AEG’s self-imposed deadline, Fabiani said: “No, we have already told our fans and the City of San Diego that we will not be exercising our exit clause in 2011.”) A commitment from the NFL itself to approve an L.A.A commitment from an NFL team to move to Los Angeles.
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. Agreements with various corporations for naming rights and other sponsorships that would bring in tens of millions of dollars in annual revenue. “He’s very enthusiastic about the project,” Leiweke said, adding that the Denver tycoon has discussed the matter with some of his friends who own National Football League teams.īut given his frustrations over previous plans he’s worked on to bring a football team to Los Angeles, Leiweke said his boss won’t sign any checks until four conditions are met: (Read the the Business Journal story here.) It reads in part: “Just as with our stadium proposal here in San Diego, the downtown LA stadium proposal still has a great many hurdles to overcome.”Īnschutz, who lives in Denver and owns is ready to finance the project if four things happen, and AEG has imposed a deadline of March for three of them. Anschutz’s support will be in Los Angeles,” Fabiani said. “I can’t assess what the impact of this announcement of Mr. Leiweke’s comments are significant because Anschutz’s support of the project has been characterized as cool or lukewarm in recent published reports, although the press-shy Anschutz was not quoted himself in any of those reports.Fabiani was asked about the significance. The Business Journal tried to put news of Anschutz’s nodded head in perspective. Anschutz lives in Denver but is a force in Los Angeles AEG owns parts of the Los Angeles Lakers, Galaxy and Kings as well as the Staples Center. stadium idea, which would involve demolition of a part of the LA convention center, for months, all while saying he wasn’t sure if Anschutz would pay for a project that could top $1.5 billion. “We have already told our fans and the city that we will not be exercising our exit clause in 2011, and we will not break this commitment.”Īnschutz Entertainment Group, or AEG, executive Tim Leiweke has been publicly trying to build support for the downtown L.A. This year, the termination fee would be $25.8 million, down from $54.6 million in 2010.Īsked if there was truly zero possibility that the Chargers would leave, Fabiani said. In response to a question, he added: “As a technical legal matter, though, the lease provides that the Chargers can terminate the lease by delivering a notice of termination and a check to the City at any point between February 1 and May 1 of any calendar year up through the 2020 NFL season.”
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