LA Stadium

AEG's Anschutz Willing To Buy An NFL Team To Make Downtown L.A. Stadium Happen

Published April 3, 2012

AEG President & CEO Tim Leiweke said that Chair Phil Anschutz is "committed to the idea of an NFL stadium in downtown Los Angeles and is willing to buy a team himself in order to make the deal work," according to Linthicum & Farmer of the L.A. TIMES. Leiweke "downplayed recent reports" that NFL execs are dissatisfied with the terms of AEG's proposal for a team, as well as "talk of possible competition from a Chavez Ravine football stadium" now that ownership of the Dodgers has changed hands. Leiweke said that Anschutz is "ready to write a check for both the downtown stadium and a team as long as he can get a 'reasonable' deal out of the NFL." The pledge to buy a full stake in a team "marks a new level of commitment for Anschutz, who Leiweke had previously said was willing to buy only 50% of an NFL franchise." AEG is also "exploring backup plans if the NFL deal stalls." Leiweke said that his company "is now considering how to revamp the exhibition center even if a pro football stadium is not built." Leiweke acknowledged that it is possible that new Dodgers Owner Guggenheim Baseball Management "could propose a football stadium at the baseball team's home in Chavez Ravine." He said that he was "in talks with Magic Johnson and his co-owners at Guggenheim Baseball Management, although he did not specify what the talks were about" (L.A. TIMES, 4/3). Leiweke said Anschutz "is now completely engaged in this process." Leiweke: "The only thing he won't do is get leveraged to the point of doing a stupid deal on a team. But if this is about finding a win-win for the NFL and Phil Anschutz, he is prepared to write that check now, subject to getting done with the (environmental impact report)," which is being released Thursday (LATIMES.com, 4/2).