A multisource video news service that highlights nuances in reporting from media outlets around the world.

 

(Image: AEG)
 
BY STEFANIE REDDING
 
 
You're watching multisource sport video news analysis from Newsy. 
 
 
The NFL may have just ended its lockout -- but one city has been locked out of the league for almost two decades.
That could change -- since Los Angeles’ city council just gave its stamp of approval for AEG’s proposed construction of its own pro football stadium.
 
 
“Los Angeles city council has approved the framework for deal for new NFL stadium. Yesterday the council voted unanimously to allow [AEG] to build 1.2 billion dollar stadium in downtown L.A. The non binding vote just the first step the plan is to have a stadium built adjacent to the Staples center by 2016.” 
 
 
Back in June, AEG said they were talking to four other teams in addition to the Chargers. That list includes the Rams, Jaguars, Raiders and Vikings. The Rams and Raiders are no strangers to the city of angels --- but ESPN’s Mike and Mike says -- put your money on the Bolts.
 
 
“...number one they have been the TV team in our market for the last several years now put that together with the fact that the Chargers have been trying to get a new stadium in San Diego for a decade. It’s going to cost them 800 million and they can’t come up with the money. (flash) What makes what we are talking about so unique is this is a billion dollar stadium that’s being payed for privately AEG is pickup up the whole tab so if you’re the Chargers put those things together…”
 
 
But the newly-approved stadium, dubbed Farmer’s Field, is getting some competition -- from a privately-funded stadium slated for construction on the outskirts of LA.
That stadium is the work of Majestic Realty Company.
The company says it wants its stadium to serve all of SoCal -- not just LA. 
 
 
Here’s its VP.
 
 
“We have a 100 percent privately financed stadium that is going to create 18,000 jobs going to generate 762 million dollars a year in economic benefits. 323 million dollars a year in salaries for this entire region without any public investment.”
 
“Overall in general it’s a tremendous amount of employment and revenue for both the city and county and state.”
 
 
Analysts say Majestic’s Los Angeles Stadium has the upper hand -- because of the private financing.
AEG’s CEO tells the OC Register, if indeed an NFL team decides to call Los Angeles Stadium home, AEG might just throw in the towel. Still - he’s optimistic about what the stadium could mean for LA.
 
 
“We’ve been handed a city that has hope and a vision for bringing the NFL back to L.A. I think there are large expectations from the unions and the trades, there are large expectations now from the city and the council and they’ve put their faith in us.”
 
 
 
Farmers Field is expected to cost $1.2 billion dollars and slated to open 2016 if  Los Angeles Stadium doesn’t win the stadium race.
 
 
Transcript by Newsy. 
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Entertainment News: Los Angeles Football Stadium

Los Angeles Tries to Woo NFL With New Stadium

August 10, 2011
(2:46)
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Los Angeles is trying to attract NFL teams with a $1.2 billion stadium.
   
Sources:ESPNOC RegisterLos Angeles Stadium
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