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AEG to Submit Stadium Proposal This Week

By Eric Richardson
Published: Tuesday, February 08, 2011, at 02:07PM
Farmers Field Gensler

A rendering by Gensler shows the Farmers Field logo atop the NFL stadium and events center proposed by AEG.

AEG's proposed NFL stadium and events center may have a naming deal—a $700-million plan will dub the place "Farmers Field"—and plenty of media buzz, but what it doesn't have is an official proposal to the City of Los Angeles.

According to CEO Tim Leiweke, that will change this week, and he hopes the document will silence some of the criticism that has been leveled at the project.

"Everyone ought to take a deep breath before they throw stones at us and maybe hear our proposal," Leiweke told reporters after speaking at a press conference in support of the L.A. Streetcar project.

AEG has proposed paying privately for construction of the stadium, but having the city issue $350 million in bonds to finance construction of a new convention center hall.

Though Leiweke has repeatedly vowed that the company would provide a guarantee for those funds, critics have claimed the city will still end up paying.

"When the proposal gets there, everyone is going to take a deep breath and realize there is zero risk to the taxpayers," Leiweke said this morning.

"We as a company have done everything we have always promised in this community. We've given $70 million back to charity and to people in need here. Would everyone just take a deep breath and have a little faith that we're not going to lie to people? We're going to do the right thing. Calm down."

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