City Officials Sign Agreement for NFL Stadium
Mayor Antonio Villaraigosa, Councilwoman Jan Perry and the President of Anschutz Entertainment Group, Tim Leiweke, signed an implementation agreement Wednesday morning for the construction of an NFL stadium in downtown Los Angeles.
Los Angeles City Council voted unanimously Friday to aprove the creation of a 76,000-seat stadium as well as modernize the 50-year old Convention Center.
"The road still has some twists and turns but, we can see the light at the end of the tunnel," said Leiweke. "And for the first time in more than 15 years we can say that about the NFL returning to Los Angeles."
Officials believe the project will bring many added benefits in addition to having a local NFL presence.
“We are a giant step closer to bringing NFL football back to Los Angeles," said Mayor Villaraigosa. “But this project means more than a potential NFL stadium. It also means a modernized convention center and thousands of new jobs for LA.”
The agreement also seals AEG's $1.5 billion commitment to the project. Construction will begin once AEG secures a football team from the NFL.