Garcetti says stadium deal 'keeps getting sweeter and sweeter'

He also told me that the protections being offered by Anschutz Entertainment Group "keep getting stronger and stronger." As Kevin posted on Wednesday, the City Council president has presented a list of principles that he would like to see included in any agreement with AEG, covering areas like signage revenue and repayment of bonds. Garcetti wasn't specific and he certainly didn't seem threatening in the event that some of the principles fell short. Sounds like he's laying out his own political groundwork. "Our consultants look at this and say there are probably only two cities in the country that can get a deal as close to the one they're talking about now - New York and L.A., maybe Chicago," he told me yesterday afternoon, adding that no other developer "would be able to give away anywhere near as much as what they're putting on the table." He said "that's a good indicator that we're negotiating well." Well maybe, maybe not - it'll be many months, even years, before we get an idea of how well the city did. Meantime, Garcetti said that a Council vote probably won't happen until mid-August, a couple of weeks past the deadline set by AEG's Tim Leiweke. But considering where the vote is headed - for better or worse - Leiweke isn't likely to complain.


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

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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
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