Majestic Realty Chair & CEO Ed Roski “has changed his offer to teams eyeing a relocation” to his proposed NFL stadium in City of Industry, Calif., according to Sam Farmer of the L.A. TIMES. Roski has “dropped his demand for a no-cash minority share of a franchise and instead is offering to hand over the 600 acres he controls to any team that relocates there.” The team would then finance the stadium and "sell him a share of the franchise at market rate.” Roski's new offer also “calls for his buying an undisclosed percentage in a team -- after selling his Las Vegas hotel and casino, in accordance with NFL rules -- with no path to controlling ownership of the team.” Roski also would “allow the team to control the entire site, nearly a rectangular mile, with the understanding that he would never use any part of it for a development of his own.” Farmer notes the AEG and Roski proposals “are markedly different.” The downtown Farmers Field deal calls for AEG “to assume the risk of financing and building the stadium.,” while Roski's deal “calls for the team to take the financial risk of building a stadium on no-cost land, and capture all of the revenue associated with the facility.” NFL owners “have quietly expressed concern that” AEG Chair Phil Anschutz is “seeking to buy a non-controlling share of a franchise at a deep discount.” That is “probably a jumping-off point for negotiations, although it is not known whether the Denver billionaire is willing to pay closer to market value for a piece of a team.” NFL owners at their annual fall meeting today in Houston are “expected to get a brief update on the L.A. situation, but there will not be presentations from either of the competing projects” (L.A. TIMES, 10/11).
