Staples Center owner AEG is working on plans to build a downtown "events center" and bring an NFL team to Los Angeles in deals that could be finalized by year's end, the company's chief executive said Thursday.
AEG is willing to invest $1 billion in a stadium complex and $300 million in a renovation of the Los Angeles Convention Center, creating a complex that would crown Los Angeles the "event capital of the word," CEO and President Tim Leiweke said.
"We will create an economic juggernaut," Leiweke boasted during a lunchtime speech at the Valley Industry and Commerce Association's annual Business Forecast Conference.
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