AEG: It’s Stadium Go Time

AEG has given the city of Los Angeles an ultimatum: Approve its proposed NFL stadium deal by July 31 or watch it disappear.

“We will know by July 31, one way or another,” AEG President Tim Leiweke told the Los Angeles Times.

AEG is asking the city to issue $350 million in municipal bonds, which would be used to relocate a portion of the Los Angeles Convention Center. When AEG builds the proposed Farmers Field on the acreage that now includes the convention center’s West Hall, it will repay the city through revenue created by the project, Leiweke said.

“I don’t think we’re meeting with resistance,” he told the paper. “I think it’s the reality of taking on the huge challenge of using football as an opportunity to also create a vision that gets this city in the top five in the events/convention business.”

A completed deal is not the question. AEG wants a memorandum of understanding before the city council breaks for the summer Aug. 1, the paper said.

Gerry Miller, the city’s chief legislative analyst, declined to comment to the Times on the status or timing of the talks.