AEG is one of the companies looking to win the tender to construct the stadium and attract an NFL team to the city, with Majestic Realty having tabled a rival proposal 25 kilometres east of Los Angeles in the city of Industry.
Leiweke told members of the council’s Trade, Commerce and Tourism Committee that his company would cover the estimated $1 billion cost of the planned venue near Staples Center and LA Live, two venues already owned and operated by AEG.
“There will be no public dollars invested in the stadium,” said Leiweke, who added that AEG will ask the city to issue $350 million in bonds to assist with relocating a convention centre hall. Leiweke explained that new revenues from the site would be enough to service the debt, and AEG would pay for any possible shortfalls.
The NFL has not had a team in Los Angeles since the Raiders and Rams left in 1995.
