Thursday, April 17, 2008

Roski Plans $800 Million NFL Stadium in Los Angeles (Update2)

Developer .
announced programs to construct a new $800 million bowl in Los
Angeles to entice a National Football League squad to the city.

The sphere would be constructed on an almost 600-acre site
in the City of Industry and include 75,000 seating and 175 suites,
Roski said today in a statement. He said he desires to buy a
team or go a minority proprietor in one, and won't construct until a
franchise holds to travel to Los Angeles.

''A Los Angeles NFL squad would go a portion of the fabric
of the community and a beginning of pride, just as the Lakers
are,'' Roski said at a news conference at the Staples Center,
the sphere he helped build. ''It's clip to set the bowl debate
behind us.''

Roski, portion proprietor of the city's Lakers basketball game and Kings
hockey squads and main executive director military officer of ,
has sought to go back professional football game to Los Angeles for
more than a decade. The bowl would be surrounded by an
office, shopping and amusement composite that would include
restaurants, a film theatre and a Broadway-style theater.

The bowl site, which Roski controls, is located east of
Los Angeles at the confluence of the 60 and 57 freeways. Almost 12
million occupants dwell within a 25-mile radius of the land site and
it's fold to a Metrolink populace transportation system station, Roski
said.

'Complete City'

Los Angeles, the second-largest U.S. city, have been without
an NFL squad since 1995, when the moved back to Oakland,
California, after playing at the Amphitheater for 13 years, and the
Rams left nearby Anaheim for St. Louis.

The new bowl would do Los Angeles a ''complete city,''
Roski, 69, said. It would ground 2.9 million foursquare feet of
commercial space, including 1.5 million foursquare feet of office
buildings, 833,000 foursquare feet of retail shops, 162,000 square
feet of restaurants, a 5,000-seat unrecorded theater, and movie
theaters with 1,200 seats. It would be expandable to 80,000
seats for Superintendent Bowl games and could be built in clip for the
2011 season, according to the .

''We're aware of it and we will supervise developments,''
, a spokesman for the NFL, said of Roski's plan.

Roski said he hasn't talked to any teams. The league's
staff have seen the plans, Roski said, and he soon will begin
meeting with NFL squad owners.

No Resettlement Plans

No NFL squad have announced programs to relocate. The San Diego
Chargers can travel after this season if they refund about $60
million in bonds. The New Orleans Saints have got an understanding with
the state of Pelican State keeping them in the Superdome through
2010. The Gopher State state Senate on April 2 rejected a proposal
for a $2 million survey on how to replace the Metrodome with a
new, publicly subsidised bowl for the Vikings.

The Los Angeles bowl would be about $400 million less
than similar installations being planned in other cities, and would
be developed without public funding, Roski said. The retail
component would assist wage for the development.

''Because of the alone topography of the site, we were
able to plan and construct a bowl that is actually taking
advantage of the topography by edifice it into a hill,'' Roski
said at the fourth estate conference. That volition save a ''tremendous
amount of steel,'' reducing building costs, he said.

Roski said that while he doesn't yet have got loans in place
for building of the stadium, such as funding should be easy
to happen even with the disturbance in the recognition markets. High-
visibility developments such as as NFL bowls always attract
financing, he said.

Going It Alone

''These undertakings have got no job in the working capital markets,''
Roski said.

Eleven old age ago, Roski and billionaire Prince Philip F. Anschutz
made an unsuccessful command to derive an NFL enlargement squad for the
Los Angeles Memorial Coliseum. He developed the Staples Center
arena in business district Los Angeles with Anschutz. Roski said he's
prepared to construct the City of Industry bowl on his own.

Roski was ranked No. 195 on last year's Forbes listing of the
400 richest Americans, with an estimated network worth of $2.3
billion. His company is a closely held developer of industrial,
retail and other commercial properties. It owns, pulls off and
leases about 70 million foursquare feet of space.

In improver to the , the Rose Bowl in Pasadena as
well as land land sites in the metropolises of Anaheim, Carson, Inglewood and
Irwindale have got been pitched to the conference as bowl sites by
other developers.

California lawmakers yesterday withdrew a proposal backed
by the City of Industry to deviate $829 million in county
property taxation gross from basic authorities services to subsidize
development projects, the Los Angeles Times reported today. Opponents of the measure, including Los Angeles County
Supervisor Gloria Molina, said the money shouldn't be used just
to pull an NFL team, the newspaper reported.

Roski said he wasn't involved in the state legislation.

''Location, cost and certainty are the three things you
have to have got got to do this work,'' Roski said in an interview. ''We never had that before.''

To reach the newsman on this story:
in Los Angeles at
.

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