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Wasserman, Leiweke's Proposal For NFL Stadium
Would Be Cornerstone Of L.A. Live Complex |
The proposal for an NFL stadium in downtown L.A. from WMG Chair & CEO Casey Wasserman and AEG President & CEO Tim Leiweke includes a retractable roof, "something none of its scuttled predecessors had," according to Sam Farmer of the L.A. TIMES. Wasserman and Leiweke are "investigating the possibility of developing a privately financed stadium" near Staples Center that would "serve as the cornerstone" of AEG's LA Live development. Wasserman approached Leiweke with the idea last October, and Leiweke Friday said, "This is just thinking right now. It's saying, ‘If we're going to invest this kind of time and money anyway -- even if it doesn't cost taxpayers a dollar -- shouldn't we think about the other uses if we had a roof to cover it?'" Wasserman said, "This is the final piece to the downtown puzzle. It's the only chance for the city to benefit from the economic power of a stadium of this caliber." Farmer noted proponents of the project contend that a retractable roof would "greatly enhance the versatility of the building, making it ideal for major sporting events such as the Final Four, championship title fights, and all sorts of national conventions." A downtown L.A. football stadium could attract "unparalleled revenue streams from a variety of sources, among them naming rights, suites, Super Bowls and seat licenses that would pay for the facility." Still, "no one is going to build a stadium without [a] team, and the league is not going to entertain the possibility of a team relocating before the labor dispute is resolved." It looks as if it will be "at least a year before any project gets the kind of traction needed to move forward" (L.A. TIMES, 4/17).
GOING HEAD-TO-HEAD: In California, James Wagner noted Wasserman and Leiweke have "pitted their concept against" Majestic Realty Chair & CEO Ed Roski's proposed stadium in nearby City of Industry. Wasserman and Leiweke "must catch up to Roski, who has had approval for his project since January," and experts say that the pair "face many of the hurdles that were once before Roski, such as navigating local politics and obtaining hard-sought zoning approvals, a team and league approval." But SportsCorp President Marc Ganis believes that "all things being equal, the NFL would probably choose the downtown L.A. option." Ganis: "It shouldn't be a surprise to anyone, given a choice with equal situations, that the NFL would prefer downtown L.A. It's a sexier location." The NFL said that it is "aware of the latest local development." NFL VP/Communications Brian McCarthy: "We continue to monitor all stadium developments in the Los Angeles area." Majestic Realty VP John Semcken said that the company will "continue working toward obtaining ownership of an existing NFL team so it could play" in the Industry stadium (SAN GABRIEL VALLEY TRIBUNE, 4/18). In Boston, Albert Breer wrote the downtown L.A. stadium location "is an attractive one." The venue would be "attractive for big events, and plans to have a retractable roof would open the door for all the things Cowboys Stadium has attracted to North Texas" (BOSTON GLOBE, 4/18).
