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Inglewood Council Approves Kroenke's NFL Stadium Proposal Without Public Vote

The Inglewood City Council yesterday voted unanimously to "approve an 80,000-seat stadium at the site of the old Hollywood Park racetrack, jump-starting the effort to bring an NFL team back" to L.A., according to Logan, Jennings & Fenno of the L.A. TIMES. Inglewood Mayor James Butts called the city's deal with developers including Rams Owner Stan Kroenke and Stockbridge Capital Group "the best financial arrangement in the history of stadium deals in this country.'" An economic impact report commissioned by the city estimated that the stadium "could be the most expensive in U.S. sports history," with a price tag $1.86B. Consultant Debby Kern, who was hired by the city to analyze Hollywood Park's financial projections, said that the stadium "will boost Inglewood's budget" by as much as $18M per year over the next decade. Most of the revenue "would come from a 10% tax on tickets." The average ticket was projected "to cost $140 per game," which would have been the "highest average price in the NFL last season." The NFL's return to L.A. remains "far from certain," as there also are plans for a Chargers-Raiders stadium in Carson and a potential Rams venue in St. Louis. But the Inglewood vote is a "critical first step to separate themselves from the rival efforts" (L.A. TIMES, 2/25). The AP's Robert Jablon noted developers "would like construction to start by year's end to have a venue ready" for the '18 NFL season. Last night's vote "adopts a new redevelopment plan without calling a public vote, effectively kick-starting construction and sidestepping lengthy environmental review" (AP, 2/24). In California, Scott Reid writes Kroenke and the Rams "essentially have extended their lead in a potentially three-team race to either secure new stadiums in their current markets or land" in L.A. (ORANGE COUNTY REGISTER, 2/25).

HOW THE AFC WEST WAS WON: In L.A., Fenno & Farmer cite a source as saying that the drafting of a ballot initiative to approve the Chargers-Raiders plan in Carson is "complete and will be made public shortly." The initiative is the "next step" in the proposed $1.7B project on the site of a former landfill announced last week. In the coming weeks, Carson2gether will "try to gather the 8,041 signatures of registered voters in the city needed to qualify the initiative for the ballot." When "sufficient signatures are in hand, the stadium initiative can be approved by a vote of the Carson City Council or put to a public election." The involved parties "hope to complete the process by June" (L.A. TIMES, 2/25). Meanwhile, in San Diego, Tom Krasovic wrote under the header, "Chargers-Raiders Plan Could Backfire" (SAN DIEGO UNION-TRIBUNE, 2/24). The San Jose Mercury News’ Tim Kawakami said Raiders Owner Mark Davis does not have $1B “lying around” to build a stadium and “he’s not going to try to finance $800 million like the 49ers did” for Levi’s Stadium. Kawakami: “How is he going to do this while maintaining the ownership of the Raiders? It was a huge question. I’m not sure he can do it in Oakland. I didn’t think he could do it in L.A. He can do it if he joins Dean Spanos. That is his play.” But Kawakami said, "Everybody’s recognized that this is the last play for the Chargers and Raiders to get a stadium” (“Yahoo Sports Talk Live,” CSN Bay Area, 2/24).

JOLTS FOR THE BOLTS? In San Diego, Roger Showley reports the City Council yesterday "approved a resolution" to keep the Chargers in the city, in what was a "symbolic vote of support." San Diego Mayor Kevin Faulconer's stadium task force is "scheduled to hold its first public meeting" on Monday at Qualcomm Stadium (SAN DIEGO UNION-TRIBUNE, 2/25). San Diego County Fourth District Supervisor Ron Roberts yesterday said that "a 'bridge loan' might be the way to finance a new Chargers stadium." Roberts told the stadium task force that the county "could front the public share of the project," projected at $1B or more, "until surrounding development begins generating cash flow." He said that his finance concept "probably works better at the existing Qualcomm Stadium site in Mission Valley than a proposed location downtown" (SAN DIEGO UNION-TRIBUNE, 2/25). But Chargers Special Counsel Mark Fabiani said the downtown site is "quickly becoming academic." The UNION-TRIBUNE's Showley reports a potential downtown stadium "could be delayed by up to seven years because of site complications" revealed by the Metropolitan Transit System (SAN DIEGO UNION-TRIBUNE, 2/25).

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