Hollywood Park has reached a preliminary agreement for financing much of its proposed $200 million stadium that would house the Los Angeles Raiders and possibly UCLA. However, the financing is but one obstacle that needs to be overcome before the deal is official.
“We do have a proposed term sheet from the bank for financing,” R.D. Hubbard, Hollywood Park’s chief executive officer, told the Los Angeles Times. “We’re pretty close, there are just a few little items to be worked out.”
The main stumbling block to the consummation of a deal is the unpredictability of Raiders owner Al Davis, who apparently has had a proposed agreement on his desk for almost three months. Multiple sources have said that Davis does not want to ever again play in Los Angeles Memorial Coliseum; however, Davis’ thinking can change from day to day.
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