After investing five years and at least $50 million in an attempt to return the NFL to Los Angeles, AEG is abandoning plans for a downtown stadium.
The sports and entertainment conglomerate is no longer in discussions with the NFL or any teams about the Farmers Field project, company officials told The Times on Monday. AEG was the onetime front-runner in the competition to bring professional football back to the nation’s second-largest market.
“I think it’s fair to say we have turned our attention to proceeding with an alternative development,” AEG Vice Chairman Ted Fikre said.
Fikre said that AEG has informed city officials that it will not seek an extension of an April 17 deadline to secure a team. The deadline was previously extended six months.
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