Sources: NFL Teams Eyeing Hollywood Park For Potential Stadium Site
At least two NFL teams have spoken with the owner of Hollywood Park racetrack in Inglewood, Calif., to "see if the team can either buy the 260-acre property or get the owner to build a stadium," according to sources cited by Jason Cole of NATIONAL FOOTBALL POST. The NFL "likes the Hollywood Park site because it believes it could easily house two teams as well as studios and offices for NFL Network and possibly a west wing" of the Pro Football HOF. The sources said that the Raiders, Chargers, Rams and Jaguars "all have the ability to get out of their lease agreements either after this season or after the 2014 season." A source said of Stockbridge Capital Exec Managing Dir Terry Fancher, whose company owns Hollywood Park, "Fancher is a commercial developer. He either wants to build something on the location to make money himself or sell the property for a profit." Cole noted any team "hoping to buy the site would have to pay" more than $500M, and then "still have to build a stadium." A source said, "Fancher has no desire to be an owner or part-owner of a team and doesn't want to go in with anybody on a stadium project. So you’re talking about having to buy the land and add that cost on top of whatever it takes to build the stadium" (NATIONALFOOTBALLPOST.com, 9/18). CBSSN’s Doug Gottlieb said the Hollywood Park location is "absolutely practical" for an NFL team. He said, "I don’t believe the Raiders are coming back. I believe the Chargers are the ones most likely. ... The Chargers makes the most sense. They have a dilapidated stadium. They have a city that doesn’t have the financial means, doesn’t have the leadership with their mayor just recently stepping down. They’ve had opportunity after opportunity to build a stadium and yet they haven’t done it” ("Lead Off," CBSSN, 9/18).