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AEG's Leiweke Says New Plan For L.A. NFL Stadium Calls For Less Money In Bonds

AEG President & CEO Tim Leiweke, who is leading a drive to build a downtown L.A. NFL stadium, yesterday said that his company will present “a revised financing plan to the city, one that calls for less money in bonds and contractually obligated revenue to cover them,” according to Sam Farmer of the L.A. TIMES. Leiweke will “present the latest plan Thursday to the city’s ad hoc committee reviewing the offer.” Leiweke at a Mar Vista town hall meeting yesterday said that the “original request of $350 million in municipal bonds to relocate the West Hall of the Convention Center … will be reduced to ‘the high $200 millions.’” AEG would “pay for and control two parking garages,” allowing for the reduction in the bonds. Leiweke also said that AEG will “lease the stadium land and secure advertising deals that, when combined, will equal the bond payments.” The previous plan “called for AEG to cover any payment shortfall on a year-by-year basis.” Leiweke said that AEG “needs to know by July 31 … if the city will agree to the framework of a deal.” L.A. City Council member Paul Koretz said, “By having a good degree of healthy skepticism, this plan already is considerably better than the one that originally came to us” (L.A. TIMES, 6/28). Leiweke also noted that his company is “completing a full environmental review, but conceded that it was talking to state lawmakers about how to protect AEG from what he characterized as frivolous legal challenges to its environmental clearance.” Leiweke said that he “hoped the deal with lawmakers is one that environmental groups would support” (AP, 6/27).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

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