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NEW COLISEUM PROPOSAL TO BE PRESENTED AT NFL OWNERS MEETING
Published October 14, 1997
Kings co-Owner Edward Roski will present an outline for a $300M financing plan for a new L.A. Coliseum to the NFL owners' stadium committee on Tuesday in DC, according to T.J. Simers of the L.A. TIMES. The plan "includes the expenditure" of $150M in public funds and "relies on the use of surplus state sales taxes." In the outline, Roski and partner Philip Anschutz "have also factored in" a successful citywide referendum. However, an L.A. city official said "[w]ithout the state part of the deal, they don't have a thing. It all hinges on getting the state money, and that's downright speculative." In addition to the financing plan, Roski will also present the NFL owners with a 20-year "operational plan" for an expansion team. Roski said that the complete stadium/team ownership package is worth "more than" $500M, including the proposed expansion fees. But Simers wrote that NFL insiders "continue to cling to the hope" that Dodger Owner Peter O'Malley, upon the completion of his deal to sell to Rupert Murdoch, would "oversee the construction" of a football stadium in Chavez Ravine. But Roski said, "From a developers standpoint, I do not see how it can be done at Dodger Stadium" (L.A. TIMES, 10/13). 49ERS NOT SET? Simers also reported that the 49ers "have let it be known behind the scenes" that if they don't get more financial assistance "by the first of the year" they might consider moving. Team Owner Ed Debartolo recently "took another look" at Inglewood's Hollywood Park and there some speculate that the 49ers "might endorse" the new Coliseum plan in order to "gain state funds" for their own project in San Francisco (L.A. TIMES, 10/13). IS ANSCHUTZ ON WAY OUT? Simers also reported that Anschutz "has decided to play no part in returning football to a new Coliseum ... and has informed Roski that he will not be party to any NFL deal, and might buy out his partner's interest in the arena." Sources told Simers that Anschutz does not want this known at present for fear of "jeopardizing" the duo's arena plan. But Roski called such speculation "absolutely incorrect. ... Phil and I are proceeding along as always." Simers added that without Anschutz, who "will not" attend the DC meetings, "most suspect" that Roski "would be unable" to bear the financial burden of bringing football to L.A (L.A. TIMES, 10/13).