Hollyweird– The Anschutz Entertainment Group, the company behind Farmers Field, a proposed $1.5 billion football stadium and convention center expansion in downtown Los Angeles, is seeking a six-month extension to its existing agreement with the city of Los Angeles for the project.
In a letter sent to Los Angeles Mayor Eric Garcetti, Los Angeles City Council President Herb Wesson and Council Member Curren Price, AEG requested an extension to allow for additional time to pursue an NFL team and also to further assess and develop an alternative development plan for the expansion and modernization of the Convention Center and the potential construction of another large hotel at L.A Live.
The original transactions approved by the city in October 2012 for the Farmers Field project were scheduled to expire on October 18, 2014.
“We have resumed discussions with the NFL and, while much remains to be done before a deal could come together, we remain committed to this project,” said Dan Beckerman, president and CEO of AEG. “In light of the positive tone of recent conversations, we feel it would be productive to continue this dialogue while at the same time further exploring alternative plans with the city.”