20 January 2009

City of Industy voters approve NFL stadium bonds

Ed Roski and the city of Industry has now created a lot of intrigue for several NFL teams looking for new stadia and their current home cities. Industry's voters approved 60-1 (out of only 84 registered voters) a package of up to $500 million in infrastructure bonds to support Ed Roski's dream of a new NFL stadium on a hill within the city limits.

While the city isn't actively seeking out any specific NFL teams (or vice-versa), Industry has now thrust itself into official stalking horse position. Four teams currently have outdated facilities: SF, Oakland, San Diego, and Minnesota. Jacksonville is often mentioned, though its facility is actually up-to-date. Its problem is its small market status.

The sticking point is likely to be which owner is willing to sell controlling interest of the team to Roski and his partners. The Raiders and 49ers have shown no interest in doing this. Chargers exec Dean Spanos and Roski are often cited as friends, but Spanos maintains that he wants to keep the team in San Diego (for now). Vikes owner Zygi Wilf just bought the team a few years ago and probably doesn't want to sell unless he runs out of options. Jacksonville is the fourth-largest market in Florida, though it is growing.


daveinsm said...


the stadium however will be about 30 miles east of Los Angeles in a freeway junction that is already packed up the wazoo

Anonymous said...

Zygi would probably sell if the price was right.

I would add New Orleans to that list as well. Buffalo is obviously looking towards Toronto, so they may be interested as well.

Anybody know how these bonds are going to be floated by a community with a population of 700? How, particularly in these economic times, do the bond purchasers get some assurance that they will get paid back when each citizen's share is practically a million dollars?

Anonymous said...

5:23, there is a reason the City is named Industry.

The revenues that fill city coffers brought in by industry will pay for the bonds.