IF THE OVITZ, WEAR IT: CARSON OVITZ THE L.A. FAVORITE?
A proposal led by Michael Ovitz "has emerged as the
leading contender to bring" the NFL back to L.A., with
Carson, CA, "considering a municipal contribution of as much
as" $100M to "convert an abandoned landfill into a premier
sports and shopping venue," according to Alan Abrahamson of
the L.A. TIMES. An NFL insider said that Ovitz has made
"significant progress," and if he receives $100M in city
aid, the owners will "start to look at this differently."
BankAmerica President David Coulter "will accompany Ovitz to
the owners meeting" in K.C. next week where they will make a
presentation to league execs, and Ovitz "hopes to bring
financial guarantees" from Carson (L.A. TIMES, 10/20). In
L.A., Carl DiOrio writes that NFL rules "allow a maximum of
10 people to participate in presentations of franchise
proposals, with no more than six making actual remarks."
Among those accompanying Ovitz will be Ralphs Grocery Chair
Ron Burkle, Lakers Exec VP Jerry West and business execs
from his bank and architect team. Ovitz will not bring
actors Kevin Costner and Tom Cruise. Ovitz: "The only thing
that is relevant is how the owners perceive our
presentation. Whoever's presentation they like best is
going to get it" (HOLLYWOOD REPORTER, 10/21).
NEW COLISEUM: Also in L.A., T.J. Simers wrote that the
finance plan for the New Coliseum was publicly "revealed for
the first time" on Monday and will require NHL Kings co-
Owner Ed Roski & Partners "to come up with more than" $200M
"in a Staples Center-like deal, while relying on" $40M in
public money, plus $100M in PSLs and "the highest-priced
luxury suites" in the NFL. Roski said he will borrow $100M
toward payment of an NFL franchise fee and pay "the rest, as
much as $400 million, in cash." He also will borrow
$216.945M toward the construction of a $357M stadium, which
he will pay off "with revenue from club seats, luxury boxes,
concessions and stadium naming rights" (L.A. TIMES, 10/20).
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