L.A. developer Eli Broad "surprised" the NFL's
Expansion Committee on Monday night by telling it that he
and partner Ed Roski "were dropping their exclusivity claim
on all negotiations with the Coliseum," according to T.J.
Simers of the L.A. TIMES. Expansion Committee Chair Jerry
Richardson: "I think that was very helpful." Roski has
agreed to "surrender his right to recoup up to" $5M in
expenses and "free the NFL to do with whomever it likes in
completing a stadium deal." In Atlanta, Broad also took a
"serious swipe" at Michael Ovitz's "grand design" of a
rebuilt Coliseum surrounded by five parking garages. Broad
told owners: "I don't want to be negative, but I hope you
choose a plan that is not only dazzling but is also feasible
and will get built." Simers notes that Broad's new stadium
plan lacked some of the designs from its October proposal
and also includes a "running water display in one end zone,"
similar to Ovitz's. Broad said his plan would cost $905M,
including $500M for the price of the franchise. Broad: "We
told the owners we can make a 1 1/2% minimal return of our
investment giving these numbers" (L.A. TIMES, 5/25). Broad,
on his proposal to the NFL owners: "They knew this was not
flimflam, this was the real thing and an honest
presentation." Richardson said the Expansion Committee will
likely meet once or twice more before the meetings conclude
(L.A. DAILY NEWS, 5/25). The SportsBusiness Journal's Liz
Mullen reports in THE DAILY that Broad said Ovitz's plan
"can not be built as presently shown in the renderings. ...
We are saying pick whatever you want, but please do your due
diligence and don't find out three to six months from now
that what you pick can not be built" (THE DAILY).
WHAT ABOUT MICHAEL'S PLANS: Richardson, when asked
about Ovitz's proposal: "It was extraordinary. It's a park,
the design, the architectural elements -- it's
extraordinary" (L.A. DAILY NEWS, 5/25). Ovitz would need
public support for the estimated $225M parking garages, and
Broad said, "I have been at this almost two years and I
think I know the politics. There is no way tax money will
go for parking. As everyone well knows, my state has some
of the toughest taxpayers in the country." Ovitz, when
asked about the financing of his project, "Go ask Eli, he
seems to know all the answers." Broad went on to say that
support in the L.A. area "appears so shallow," and that he
"may not try to sell" PSLs if he wins the franchise. He has
also reduced the seating capacity of his proposed stadium
from 66,000 to 60,000 (HOUSTON CHRONICLE, 5/25).
DAVIS WAITS IN WINGS: In L.A., T.J. Simers reports that
Marvin Davis is "getting a signed option agreement Monday
from Hollywood Park on 100 of the 140 acres of land for the
development of a football stadium." Davis is "now in
position to curry NFL favor" if Broad and Ovitz fail to make
their case for the Coliseum (L.A. TIMES, 5/25).
