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No public funds needed for L.A. stadium

Updated: January 19, 2011, 6:21 PM ET
Associated Press

LOS ANGELES -- The chief executive of a company proposing a downtown pro football stadium told a City Council panel Wednesday the project would require no public funding.

AEG chief executive Tim Leiweke told members of the Trade, Commerce and Tourism Committee that AEG would pick up the estimated $1 billion cost of the planned venue near Staples Center and LA Live, two venues already owned and operated by the sports and entertainment firm.

Leiweke said AEG does need the city to issue ...

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