Councilman Curren Price was pleased to see his colleagues on the Los Angeles Economic Development Committee unanimously approve a six-month extension Friday for AEG to pursue plans to bring a football team to the City. The committee unanimously approved the proposal recommended by staff, and supported by Price, which also establishes a collaborative design competition which will produce six design plans to modernize the City’s Convention Center – with or without a football stadium. AEG will be providing $750,000 to cover the costs for the design competition, saving the City $600,000 previously allocated for the process.
“I remain incredibly excited and hopeful about Los Angeles getting an NFL team, no doubt this would be a tremendous economic development tool for downtown and the entire city. However, it is equally important that we have a modernized, world-class Convention Center - one that all residents of Los Angeles can be proud of,” said Councilman Curren Price.
“ If approved, this agreement with AEG would allow us to explore all of our options to help us arrive at the decision that most benefits our city, while keeping the field open for football and prioritizing the long overdue renovation of our Convention Center.”
The extension request is expected to come to the full City Council for final approval Tuesday. If approved, the new agreement will produce six design plans from three architecture firms that will include illustrations and models laying out the new and modern vision for the Convention and Event Center. AEG officials also stressed that the 6 month extension allows them to continue promising negotiations with the NFL. Traditionally, decisions on moving or expanding teams happen at the start of the year, between January and March. If a new team is secured for Los Angeles, AEG would receive an additional 6 months to finalize stadium plans.