AEG yesterday announced that despite abandoning efforts to build a downtown L.A. NFL stadium, it plans to move forward with the ongoing development of L.A. Live. The company will continue to build on the sports-and-entertainment hub's success. AEG will follow the efforts of others to develop an NFL stadium at other potential sites in the region (AEG). In L.A., Sam Farmer notes AEG's statement, which includes quotes from company Vice Chair and Chief Legal & Development Officer Ted Fikre, reveals that it "had a term sheet with the NFL, the framework of a deal, which AEG had not divulged." The problem was "although many league executives and owners liked the site, AEG failed to persuade a team that their proposed venue was the best option -- and it likely would have taken two teams to make the project financially feasible." Fikre reiterated that AEG "could be supportive of another proposed stadium project" -- right now the joint effort of the Chargers and Raiders in Carson -- "but only if such an endeavor were subject to a thorough and transparent review instead of simply being greenlighted by local politicians" (L.A. TIMES, 3/11).
CHARGING AHEAD: In San Diego, Tom Krasovic reports San Diego Mayor Kevin Faulconer's nine-person panel "is moving toward recommending a site for a new Chargers stadium, be it in downtown San Diego or at the stadium's current site in Mission Valley." An announcement "could come this month, in addition to a plan for how to finance the project" (SAN DIEGO UNION-TRIBUNE, 3/11). In San Diego, Kevin Acee writes any new Chargers' stadium "should be downtown, next to Petco Park, adjacent to a convention center annex." It "should at least still be a possibility." The Citizens Stadium Advisory Group "has been leaning heavily toward choosing Mission Valley as the site for a new stadium and could make that choice public in the coming days." The task force’s "collective thought, considering the political machinations and possible logistical maneuvers that would be necessary downtown, seems to be that it will be better to have a stadium in Mission Valley than no stadium at all." That is a "somewhat justifiable conclusion, especially given time constraints brought on by Los Angeles’ shadow." But it also is "short-sighted" (SAN DIEGO UNION-TRIBUNE, 3/11).
LOST ARC? In S.F., Matier & Ross report with negotiations over replacing O.co Coliseum "revving up and the clock ticking down on keeping" the Raiders in town, Alameda County Supervisor Nate Miley "has an idea: take the existing stadium and make it football-only." Miley’s call "for yet another makeover of the 49-year-old, dual-purpose stadium into a football-only venue is based on cost -- and a concern that, in the end, taxpayers won’t go" for an estimated $300M in public money for a new venue. Miley said of a retrofit:"We could do that for about $500 million." But Matier & Ross note under Miley’s plan, the A’s "could pursue their effort to build a baseball-only stadium as well, next door at the Coliseum complex." Miley "first proposed the cheaper alternative at a closed-door meeting with the Raiders" and NFL a few weeks back -- "but it was quickly shot down." Despite the rejection, Miley "is continuing to push the idea" (S.F. CHRONICLE, 3/11).
