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AEG announces Farmers Field
Here's the press release from AP: {Link}
LOS ANGELES -- A proposed NFL stadium in downtown Los Angeles would be called Farmers Field under a 30-year naming-rights deal between developer AEG and Farmers Insurance Exchange.
The companies announced the agreement in a joint statement Tuesday in advance of a press conference.
Terms of the pact were not released but a person familiar with the negotiations tells The Associated Press that AEG would get $700 million over 30 years if the firm builds its planned stadium and lures an NFL team to the country's second-largest market.
The person, who spoke on condition of anonymity because they were not authorized to speak publicly about the contract, said AEG would get $1 billion if it places two NFL teams in the stadium.
Picture: Not actual proposed stadium The companies announced the agreement in a joint statement Tuesday in advance of a press conference.
Terms of the pact were not released but a person familiar with the negotiations tells The Associated Press that AEG would get $700 million over 30 years if the firm builds its planned stadium and lures an NFL team to the country's second-largest market.
The person, who spoke on condition of anonymity because they were not authorized to speak publicly about the contract, said AEG would get $1 billion if it places two NFL teams in the stadium.
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