Los Angeles city council approves measures for stadium

The new proposed Farmers Field in Los Angeles is a step closer to being built. The only thing it is missing is an NFL team to occupy it. (AEG/Getty Images)

The Los Angeles city council on Friday secured approval to build Farmers Field, the proposed NFL stadium in the city, reports the Los Angeles Times.

Los Angeles has not had an NFL team since the Raiders left for Oakland and the Rams left for St. Louis after the 1994 season.

The council voted 12-0 to approve plans for a $1 billion, 72,000 seat stadium next to Anschutz Entertainment Group's Staples Center and the L.A. Live entertainment district.  The stadium will be paid for with private funds.

AEG’s owner Philip Anschutz announced plans on Sept. 18 to sell his sports and live-entertainment company.

“This is an agreement between two institutions,” Miguel A. Santana, L.A.’s chief administrative officer said. “Just as there will be several mayors, city council presidents and city councils during this contract, it was always contemplated there could be new ownership at AEG.”