Facilities Venues

L.A. ARENA DEVELOPERS SAY DELAY MAY LEAD THEM ELSEWHERE

8.25.1997

          NHL Kings Owners Philip Anschutz and Edward Roski,
     developers of the proposed L.A. downtown sports arena,
     "warned" that if City Council approval of the project is
     delayed beyond September, the Kings "are likely to seek a new
     home outside the county," according to the L.A. TIMES.  That
     announcement came as Anschutz and Roski "confirmed" that they
     have offered to guarantee repayment of all $70M in bonded
     indebtedness taken on by the city as its contribution to the
     project.  Kings President Tim Leiweke and development company
     spokesperson John Semcken said if the city does not approve
     the project by the end of the month, or if a ballot
     initiative requiring voter approval of publicly funded sports
     projects pushed back their schedule, the proposed arena would
     be in "deep trouble" (L.A. TIMES, 8/23).

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