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...Farmers Field
Well Los Angeles does not have a football team nor do they even have a stadium to host them, the coliseum will not due anymore, also they do not have a approval for a stadium to be built. With all of that said there is one thing they have, naming rights! Famers Insurance has agreed to pay $700 million for 30 years on their future, maybe, stadium. Terms of the deal were not released but a person familiar with the negotiations told The Associated Press that AEG would get $700 million over 30 years if the firm builds the 64,000-seat venue, to be called Farmers Field, and secures an NFL team to play there. In any case, AEG promises Farmers a minimum of 50 events per year, with an attendance of at least 40,000 per event. AEG, the company building the stadium who also owns and operates the Staples Arena, has promised to put more than $1 billion toward construction costs, but is not above sweet-talking the L.A. City Council into helping out with the rest with $350 million in public bonds. Majestic Realty Co. Vice Pr
esident John Semcken said after Leiweke briefed a City Council committee last week that the bond arrangement would leave the city saddled with debt. Majestic wants to build a stadium as well, but they are not nearly as far along as AEG. Either way this is okay, no team has committed to moving there so there is just money in the air. Al Davis, owner of the Oakland Raiders, said if they build a stadium he would move back to L.A. Yay...? I wanted to bring football back to L.A., but that seems to be fading. Oh well.I will just buy a team and move them to Oklahoma or something. I am giving this a Digit Up, why not.
Well Los Angeles does not have a football team nor do they even have a stadium to host them, the coliseum will not due anymore, also they do not have a approval for a stadium to be built. With all of that said there is one thing they have, naming rights! Famers Insurance has agreed to pay $700 million for 30 years on their future, maybe, stadium. Terms of the deal were not released but a person familiar with the negotiations told The Associated Press that AEG would get $700 million over 30 years if the firm builds the 64,000-seat venue, to be called Farmers Field, and secures an NFL team to play there. In any case, AEG promises Farmers a minimum of 50 events per year, with an attendance of at least 40,000 per event. AEG, the company building the stadium who also owns and operates the Staples Arena, has promised to put more than $1 billion toward construction costs, but is not above sweet-talking the L.A. City Council into helping out with the rest with $350 million in public bonds. Majestic Realty Co. Vice Pr
esident John Semcken said after Leiweke briefed a City Council committee last week that the bond arrangement would leave the city saddled with debt. Majestic wants to build a stadium as well, but they are not nearly as far along as AEG. Either way this is okay, no team has committed to moving there so there is just money in the air. Al Davis, owner of the Oakland Raiders, said if they build a stadium he would move back to L.A. Yay...? I wanted to bring football back to L.A., but that seems to be fading. Oh well.I will just buy a team and move them to Oklahoma or something. I am giving this a Digit Up, why not.
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