As investors in Los Angeles continue to make their case for an NFL team, Farmers Insurance has gone ahead and secured the naming rights of the proposed downtown LA stadium for 30 years at a value of $600 million; the name, “Farmers Field.”
The funny thing about this deal is that the proposed 1.7 million square foot, 68,000-seat, $1 billion football stadium located in downtown as part of LA Live has no architect, no site approvals and no NFL team. Considering how tortured the attempt to return an NFL franchise to Los Angeles has been, the confidence exhibited by both parties that an NFL team will play in Farmers Field is either a remarkable display of bravado or an indication that the deal for another NFL team to move there is fait accompli. So, a leading question is whether Farmers pays the same whether or not an NFL team plays on its field.
For the LA sports fans who dreams about the NFL’s return to the City of Angels this could signify a big step in the right direction. Now all that is needed is an actual team.
