Just Another Day In SouthLA
The latest plans for a football stadium in Downtown LA seems even more of a reality now that AEG has sealed a naming deal for the proposed “Farmers Field“. AEG was able to get a $700 million deal with the Farmers Insurance Exchange for naming rights to the NFL stadium.
This news came from a very pep-rally like press conference held by AEG and attended Mayor Villaraigosa . AEG plans on putting down $350 million of their own cash as well as acquiring bonds towards the nearly 1.5 billion dollar stadium. No word on what team will be occupying this proposed Famers Field but a lot of analysts and speculators are pointing to the San Diego chargers.
The stadium could bring 20,000 more jobs as well as 3 billion dollars to the downtown economy that’s already growing as a popular and profitable sector of Los Angeles.