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by Michael C. Lowe | January 26, 2011

Last Wednesday, AEG, which owns and manages many sports and entertainment venues, presented a Los Angeles City Council committee with a proposal that would bring a $1 billion, 64,000-seat stadium to downtown Los Angeles. The project would require $350 million in city-approved bonds that would be repaid with a seat tax. Along with building the new stadium, AEG would add expansions to the parking lot and convention areas. The AEG-built L.A. Live project, which includes the Nokia Theater and Nokia Plaza, welcomed 13 million visitors in 2010. AEG was available for comment.