Los Angeles considers extending deal to land NFL team
The Los Angeles City Council will meet Tuesday in hopes of extending an agreement that could bring an NFL team to the city for first time in two decades, according to the Associated Press.
The city council will look to extend The Anschutz Entertainment Group's proposal for another six months, with the hopes of building a stadium to lure an team to town. The council is expected to approve the request.
Los Angeles mayor Eric Garcetti said last week that he thinks the NFL is "finally interested" to bring a team to town.
The original deal struck in October 2012 between the city and AEG called for the group to make a deal for a franchise by Saturday. AEG’s original proposal called for building of a $1 billion, 72,000-seat stadium adjacent to the Staples Center but also had plans for a $350 million renovation of the Los Angeles Convention Center.
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Though no teams have said they wanted to move to Los Angeles, there are three possibilities for existing franchises to relocate.
St. Louis Rams owner Stan Kroenke purchased 60 acres around Hollywood Park last December, as the team’s lease with the city for the Edward Jones Dome is on a year-to-year basis. The team can break the lease without penalty after the season after the city rejected a $700 million stadium renovation plan.
The San Diego Chargers can also can opt out of their Qualcomm Stadium lease between Feb. 1 and May 1. The Chargers don’t want a team relocating to Los Angeles because they receive 30 percent of their local revenue from the market.
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