LOS ANGELES (CelebrityAccess) — Stan Kroenke, the owner of the NFL football team St. Louis Rams, along with real estate investment management firm Stockbridge Capital and real estate developers Hollywood Park announced plans on Monday to build a new, $2-billion NFL stadium in the Los Angeles neighborhood of Inglewood.
The new 80,000-seat stadium would require no public funding and be a part of a $4-billion entertainment complex, and could be ready for use as soon as the latter part of 2018, in time for the football season, the Orange County Register reported.
The stadium would be located on the former site of the Hollywood Park race track and would need to clear environmental hurdles before construction could proceed.
“We are excited to unveil an expanded plan that will bring a world-class sports and entertainment district to Hollywood Park,” Stockbridge founder Terry Fancher told the Los Angeles Times in a statement. “We are committed to working with (the Kroenke Group) to build a project that will put Inglewood back on the map as home of the truly great sports and entertainment venues.”
Kroenke's stadium plan joins a similar bid by Anschutz Entertainment Group to build a stadium in downtown Los Angeles. However, the downtown stadium plan has already cleared most of the regulatory and regulatory hurdles, but it stalled due to the lack of a firm commitment from an NFL team to move to Los Angeles and Anschutz's agreement with the city expires in the Spring of 2015.
Los Angeles, the nation's second largest media market, currently has no resident NFL team, after both the Rams and the Raiders decamped in 1995 to St. Louis and Oakland respectively. – Staff Writers