A downtown Los Angeles football stadium envisioned by sports and entertainment company AEG doesn't appear to be going anywhere, according to reports that the National Football League has no interest in the plan because of economic and logistical doubts.
"The numbers just don't work, no matter how you look at the deal," a league source said in February, reported Yahoo Sports
. "It's either too hard for AEG to make money [and pay the debt on the stadium] or too hard for the team. I just can't see a way for it to work."
AEG has for years been planning to construct the stadium, to be named "Farmers Field" and cost an estimated $1.8 billion.
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The NFL also expressed concerns over the cramped conditions, considering the field would be situated downtown on property presently occupied by the convention center and across the street from the Staples Center/L.A. Live complex.
An NFL spokesman said the league was still monitoring what AEG is trying to do.
"We continue to monitor the AEG situation and remain interested in multiple sites in the Los Angeles area," NFL spokesman Brian McCarthy said in a statement.
Sports Corp President Marc Ganis, who advised both the Rams and the Raiders when the teams relocated from Los Angeles, was not surprised by the NFL's decision.
"I think there are many major, if not fatal, flaws in the AEG plan and it's surprising the Los Angeles political leadership has not picked up on it from the NFL," Ganis said.
Six months ago, the city's council voted unanimously to support AEG's plan.
"The focus on the sale of AEG has stalled the chance for people in the area to view potential other sites and opportunities . . . If Los Angeles leaders don't move on to look at other options it will only delay the return of the NFL to Los Angeles further, possibly even years longer," Ganis concluded.
AEG President Tim Leiweke previously said his company was willing to revise the plan.
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Not since 1994, when the Rams, now the St. Louis Rams, and the Raiders, now the Oakland Raiders, left L.A. has the nation's second largest city and television market had a professional football team.
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