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Business Group Reveals Plan for Pro Football Stadium in Los Angeles.
Knight Ridder/Tribune Business News, May, 2002
By Rick Orlov, Daily News, Los Angeles Knight Ridder/Tribune Business News
May 17--A business group headed by Denver billionaire Philip Anschutz revealed plans Thursday to build a 64,000-seat stadium across the street from Staples Center in the hope of luring at least one professional football team to Los Angeles.
The partners would use the authority of the Community Redevelopment Agency to acquire the 19-acre site southeast of Staples, possibly by issuing $70 million to $100 million in bonds, official said.
The debt would be repaid through stadium revenues, including a ticket tax and sales taxes, with no risk to taxpayers.
"This is indeed a bright moment in time for Los Angeles to bring the NFL back to the city," said Tim Leiweke,...
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