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February 03, 2011
Los Angeles council approves AEG stadium study group
The Los Angeles city council approved taking the first steps toward an AEG-built downtown stadium yesterday, voting to form a working group to open negotiations with the developer, while — my favorite — "accept[ing] $250,000 from the company for an independent financial account of the potential deal." Because nothing says "independent" like a check from the project's main sponsor.
So far the council seems fairly positive about the plan, if you don't count the one councilmember who worried that "one wrong step and we could push the city into bankruptcy." Man, who invited that guy to the party?
Love the sarcasm, Neil.
Posted by timmytight on February 3, 2011 12:07 PM
Neil, don't worry. THAT guy will not be invited to future events/meetings related to the stadium...
Posted by John Bladen on February 4, 2011 05:20 PM
Bottomline, its only a matter of time now! Can u say "Los Angeles Chargers"?!
Posted by bottomline on February 4, 2011 07:51 PM
"It's Chinatown, Jake."
Posted by Bill Bailey on February 4, 2011 11:38 PM
Mr Wilf will be announcing after the SB--the Vikings are headed to Sunny California where they will play in the number two market with a free venue.
Posted by Los Angeles Vikings on February 5, 2011 04:18 PM
"Los Angeles is facing a terminal fiscal crisis: Between now and 2014 the city will likely declare bankruptcy. Yet Mayor Antonio Villaraigosa and the City Council have been either unable or unwilling to face this fact."
... that is the opening sentence to a 2010 WSJ article. Yet, here we are.
All of this is a pay-off to the property developers. There was a monumental real estate bubble in that corner of downtown. Now, a lot of it has deflated and most of the loft/condo projects in the area are stalled. This is just Villaraigosa and the City Council paying off their constituencies.
Posted by Howard the Duck on February 7, 2011 09:16 PM