Los Angeles got one step closer to the dream of having a football team today. Entertainment company AEG has announced that it has signed Farmers Insurance to a 30-year naming-rights deal for a new 68,000-seat football stadium in downtown Los Angeles near the booming L.A. Live complex and the home of the Los Angeles Lakers, the Staples Center, an area that is quickly becoming the new heart of Los Angeles.
The billion-dollar stadium with a retractable roof will be called Farmers Field and Los Angeles citizens have been promised that this new complex won't cost them a thing. The 30-year-deal has been called one of the largest naming-rights contract ever, a reported $650 million dollar deal. Because there is no team in place, while Farmers gets plenty of signage, there's no other media involved in the deal. But the decision paves the way for the long-range dream of having the NFL back in Los Angeles. Los Angeles Mayor Antonio Villaraigosa was on hand at the announcement expressing his excitement that football will be coming back to Los Angeles. Also in attendance was former Laker great Magic Johnson, who sold part of his stake in the Lakers to focus on bringing the NFL back to L.A., a city without a team since 1994. The question of course is which team. There has been talk of having the San Diego Chargers move to Los Angeles. Other teams which could become L.A.'s dream team include the Minnesota Vikings, Carolina Panthers and Jacksonville Jaguars.
Gallery: The Plans For Farmers Field