Analyst: NFL Stadium May Not Generate as Much Money as Hoped

A state fiscal policy analyst says the NFL stadium may not make as much money as what developers say it will.

By Connie Tran
|  Saturday, Aug 27, 2011  |  Updated 9:21 AM PDT
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A state fiscal policy analyst says the proposed 1.5 billion dollar NFL stadium may not make as much money as what developers say it will.

Connie Tran

A state fiscal policy analyst says the proposed 1.5 billion dollar NFL stadium may not make as much money as what developers say it will.

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The proposed NFL stadium for Downtown Los Angeles is still far from being a done deal.

But that doesn't stop people from trying to figure out just how much money the $1.5 billion stadium could generate.

At a hearing Friday, state fiscal policy analyst Mark Whitaker said people will not spend more money just because there is a stadium.  

Most people have a fixed budget when it comes to entertainment, Whitaker said.

The Los Angeles City Council approved unanimously approved a Memorandum of Understanding (MOU), on August 9, which is part of a deal to build a $1.3 billion football stadium and convention hall downtown. The proposal by Anschutz Entertainment Group (AEG) calls for the construction of a 72,000-seat facility that would sit next to the Staples Center-LA Live Campus.

Also on Friday AEG President Tim Leiweke talk a state Senate panel that the developer needs protection from "frivolous" lawsuits in order to move forward with the staduim plan.

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