Venue News: Sources Say AEG’s Downtown L.A. Stadium Plan Is Dead; Panthers Will Not Receive State Funding for Stadium Renovations

Compiled by Karen Hogan, Associate Editor, Sports Video Group

As people in Los Angeles await word on the sale of the Anschutz Entertainment Group, the NFL doesn’t sound too enthusiastic about the firm’s plan to build a downtown stadium. Less than six months after the L.A. city council voted unanimously to support AEG’s plan, the concept is essentially dead to the NFL, according to two sources. The problems with the plan are numerous, but the most essential one is the economics. Officially, a league spokesman said Monday that the NFL is still tracking what AEG is trying to do. Unofficially, the NFL believes that the cost of the AEG plan, which the league believes will be at least $1.8 billion, will make it unworkable…

…Gov. Pat McCrory said Monday that no state money would be available for the Carolina Panthers, complicating the team’s bid for public money to help upgrade Bank of America Stadium. The team has asked the state for $62.5 million toward a planned $250 million stadium renovation. The decision represents a setback for the Panthers. It comes four days after legislators effectively turned down a city of Charlotte plan that would have given the team $144 million…

…The Sacramento City Council may get a term sheet for the proposed public-private partnership for a new Sacramento Kings downtown arena as early as March 26. Sacramento City Manager John Shirey told the council Tuesday night that he hopes to have the proposed agreement ready in three weeks. Waiting until April 2 would be cutting it a little close, Shirey said, as the National Basketball Association owners will consider in mid-April Sacramento’s counteroffer to Seattle’s bid for the team…

…MGM announced Friday it will partner with established arena builder AEG, breaking ground late this year for a new 20,000-seat arena to the west of the Strip. MGM Resorts Chairman Jim Murren said the project will be built with private money. The sports and entertainment venue would be built behind the Monte Carlo and New York-New York. Construction should take 24 to 30 months after a groundbreaking late this year. The development is to include retail shops, dining and entertainment offerings. Both the MGM arena and the UNLV domed stadium project would add enormously to the city’s flexibility in presenting a wide range of entertainment options, and it’s to be hoped both advance and succeed…

…The Knicks are inviting their fans to take an Instagram photo of their game experience when prompted by the Knicks social media during tonight’s Knicks vs. Thunder matchup. Whether in arena or elsewhere around the globe, be a part of a Knicks historical moment in time. Fans are asked to post their Instagram photo using the hashtag #InstaKnicks to be potentially featured in arena on GardenVision and on Knicksnow.com…

…San Francisco 49ers CEO Jed York passed along a few photos from inside the team’s new stadium, which remains under construction.

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