Billionaire Philip Anschutz's plan to build a football stadium and convention-center addition in downtown Los Angeles offers the city a financial guarantee that falls short of what he gave with Staples Center 13 years ago.
The Anschutz subsidiary behind the project is providing no letter of credit or additional guarantee for $350 million of municipal bonds related to the development, according to a Feb. 16 proposal, unlike the backing provided for Staples Center.
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As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
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