AEG has decided to abandon their plans to build a football stadium in downtown Los Angeles.
AEG invested at least $50 million and five years in their efforts to build a stadium.
“I think it’s fair to say we have turned our attention to proceeding with an alternative development,” AEG Vice Chairman Ted Fikre said.
The St. Louis Rams are seeking a stadium in Inglewood, while the Oakland Raiders and San Diego Chargers are working on a proposal in Carson.
Eric Grubman, NFL executive vice president and point man for the league on L.A., said the league has been "very interested" in the downtown site and has spent significant time with senior members of AEG. “We would always prefer to have an excellent site in the mix, but we recognize that it is not in our control.”