*Ed Roski doesn't stand a chance

The L.A. billionaire has proposed a nifty NFL stadium in the City of Industry, but I'm afraid it's no match for the well-orchestrated - and detail hidden - push for a downtown stadium. Tim Leiweke and his AEG juggernaut are holding a press conference this morning announcing their $700-million naming-rights deal with L.A.-based Farmers Insurance, and the cast includes Eli Broad (on video), Magic Johnson, Mayor Antonio Villaraigosa, and Council members Jan Perry and Janice Hahn. Take a gander at Erick Richardson's tweets at blogdowntown:

# The Mayor and Councilwomen Jan Perry and Janice Hahn have taken turns talking about how excited they are for the stadium (ERIC)

# 09:53AM Probably three dozen TV cameras here for this event. AEG knows how to pull a crowd to press conferences. (ERIC)

# 09:51AM Eli Broad is on video right now, talking about how Los Angeles needs the NFL back (ERIC)

# 09:37AM Magic Johnson is among those in the audience today (ERIC)

# 09:35AM Heavy turnout here at the Convention Center for the Farmers announcement, which is being broadcast live on Fox Sports and ESPN710 (ERIC)

Wonder how many of these invited honchos have the first clue about how the stadium would be financed - and the city's potential exposure to the AEG connivers. By the way, if you want some insight into what's going on, check out Bill Boyarsky's post.

*Update: Villaraigosa has named a commission to analyze the proposal. It'll be chaired by Deputy Mayor Austin Beutner and Sony Pictures Entertainment Chairman and CEO Michael Lynton. (City Maven)

**Update: From John Semcken, vice president of Roski's Majestic Realty:

"We firmly believe that our stadium proposal, which is modeled after the most successful stadiums in the league, is best suited for the NFL and the entire Southern California region."

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent Politics stories:
Obama meets with victims of LAX shooting*
Maria Elena Durazo profile names a key name *
President Obama's arrival timed to rush hour (again)
Obama will visit DreamWorks Animation, Magic's home
Some USC students wish they were invited to Bush speech

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner

Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook