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.

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    NEWSLETTERS

    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. (Published Friday, Aug 26, 2011)

    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.