Can a NFL Stadium at LA Live Lure a Team and Be a Moneymaker? AEG and Councilmember Hahn Say Yes.
By Kevin Mathews/Special to LAist
The push for a new NFL stadium took another step forward today when the Los Angeles City Council voted to form a committee to discuss the proposal, according to the LA Times. Committee members will meet with representatives from AEG to examine the downtown project’s viability and help to expedite the process.
Though the estimated billion-dollar stadium may seem like a frightening price tag for a city facing budget problems, it could ultimately prove to be an economic boon and a source of new job creation. Councilwoman Janice Hahn told the LA Times, “We get a better convention center out of this, more hotel rooms, more tourism; that’s an increase to the general fund. We want all hands on deck.”
While Los Angeles has not yet secured a team to play at the proposed site, AEG President Tim Leiweke assures that a new stadium will be enough to lure an existing NFL team away from another city. LA has been without a professional football team since the Raiders moved to Oakland in 1994.