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HOLLYWOOD PARK WAITS ON RAIDERS
Published January 30, 1995
A "preliminary agreement" has been reached by Hollywood Park for financing its proposed $200M stadium where the Raiders and UCLA would play, according to today's L.A. TIMES. Hollywood Park CEO R.D. Hubbard: "We do have a proposed term sheet from the bank for financing. We're pretty close, there are just a few little items to be worked out." The "stumbling block" remains the "unpredictablility" of Raiders owner Al Davis. Sources say that he has had a proposed agreement "on his desk for almost three months." Although more than $100M has been spent on renovations to the Coliseum, Davis reportedly "no longer wants to play in the Coliseum" and has "privately made Hollywood Park his top option" (John Cherwa, L.A. TIMES, 1/30).