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Media & Entertainment Law

: Sports Biz

A NFL Stadium for LA that Works?

By Mark

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Real estate developer, billionaire and partner in the Staples Center, the Lakers and the Kings, Ed Roski today unveiled a proposal for a new stadium in the City of Industry, about 20 miles east of downtown LA. The proposed stadium will have 75,000 seats and will cost upwards of $800 million. Roski already controls the land and, importantly, has already completed an environmental impact statement.

The question is does the NFL care anymore, and do the folks in LA even want a team? It's clear that the owners have far more pressing problems on the agenda at this point than putting a team in Los Angeles, not the least of which is the upcoming battle with the players over the likely re-opening of the collective bargaining agreement, which is likely to happen this fall. Expansion is no longer likely so to put a team in Los Angeles would require the relocation of an existing franchise. There are no shortage of possible candidates. The three that spring to mind are the Saints, the Bills and the Vikings, all of whom have stadium issues to work out.

The league will go out of its way to see the Saints stay in New Orleans and it is far more likely that the Saints will survive there than will the Hornets. The Bills are in the process of working out a new relationship with Toronto that may make their continued presence in Buffalo viable, perhaps as a regional team playing games in both cities. Minnesota still needs to work out a stadium deal and until that is done, the likelihood of relocation is high. Will that be to Los Angeles? That is a stretch at this point as there is a great deal yet to be done to get from this announcement to a team. I should point out that on the day of Roski's press conference, the state legislature blocked the City of Industry's plan to divert $800 million in property taxes to subsidize the project.

Full post as published by Sports Biz on April 17, 2008 (boomark / email).