Aventura Single Family Homes

NFL Capsules: Official says LA stadium planner talked with five teams

LOS ANGELES (AP) — The head of the sports and entertainment firm that wants to build an NFL stadium in downtown Los Angeles has been in talks with officials from five teams about the proposed venue, a company official said Friday.

Anschutz Entertainment Group President and CEO Tim Leiweke has spoken with representatives from the Minnesota Vikings, San Diego Chargers, Oakland Raiders, St. Louis Rams and Jacksonville Jaguars, company spokesman Michael Roth told The Associated Press.

Leiweke said all those teams are "in the mix," but conceded, "We're not packing any (moving) vans right now," according to the Orange County Register, which was first to report on the talks.

The most recent discussion took place a week ago, said Leiweke, who didn't specify which team was involved.

Leiweke also told the Register that AEG owner Philip Anschutz was prepared to acquire a majority stake in an NFL team that would play at the proposed venue and that the company was willing to pay for a team to get out of its current lease.

AEG's $1 billion plan for a 72,000-seat stadium on part of the city's convention center campus is one of two competing proposals that aim to bring pro football back to Los Angeles 15 years after the Rams and Raiders left the nation's second-largest market within months of one another.

Warehouse magnate Ed Roski has permits in place to build a separate 75,000-seat stadium about 15 miles east of Los Angeles, in the city of Industry, but has also not secured a team.

Chargers spokesman Mark Fabiani told the AP that the team is in frequent contact with Leiweke concerning unrelated business, but that a move to Los Angeles has not been discussed.

He stressed that Chargers owner Alex Spanos and his family were not interested in relinquishing a majority stake of the team.

The family recently terminated an agreement with Goldman Sachs Group Inc. to shop around a stake in the team they considered selling to reduce the 87-year-old Spanos' estate tax liability upon his death, Fabiani said.

"So if AEG is seeking a majority stake in a team, it would probably be best for AEG to cross the Chargers off its wish list," he said.

Raiders CEO Amy Trask said in a statement through spokesman John Herrera that the franchise would remain with the family of owner Al Davis.

"The team is not for sale," Trask said.

Herrera had no comment on whether a move would be contemplated if Davis retained ownership.

HIGH END CONDOS AND HIGH END SINGLE FAMILY HOMES LEAD THE MARKET ...

THE INFLUENCE OF FOREIGN BUYERS, ESPECIALLY FROM SOUTH AMERICA, AND BRAZIL, IN PARTICULAR, HAVE RESULTED IN A SUBSTANTIAL INCREASE IN SALES OF PROPERTIES IN THE ONE MILLION AND UP RANGE.

In 2011, an average of 51 condo sales over $1 million have sold per month and 41 home sales sold in the same price bracket.

EWM PRESIDENT, RON SHUFFIELD IS QUOTED AS SAYING ” to see this real solid activity we are having tells us how fortunate we are here in South Florida.

More good news, South Florida resale inventory is below 50,000 for the first time since the real estate crash according to the report from Condo Vultures.  There are now 22,200 single family homes and 27,700 condo units available for purchase in the tri county area.  In 2008, there were more than twice with 108,000 residential units.

So, slowly but surely the market is improving and eventually prices will stabilize in the middle range.  Right now, most sales are at prices at 2002 levels in that range.

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