The Major League Soccer expansion team LA Galaxy revealed plans concerning their expenditure of spending around $250 million in order to construct what will be the country’s most expensive privately financed soccer stadium which is going to be made on Sports Arena in the Exposition Park.
A conference center, a number of restaurants as well as a soccer museum are just a few of the elements which the stadium will have. This stadium will be the home of the new Major League Soccer franchise which expects to make it’s debut in 2018.
Even though the budget of what everything will cost has already been projected, there still are a number of things that need to be done before the actual building process can kick-off. Before everything can actually initiate, it still needs to be approved by the Coliseum Commission as well as the L.A. City Council.
The former Lakers Hall of Famer, Magic Johnson as well as the Mandalary Entertainment Chief Executive, Peter Guber are going to be some of the sports figures which are going to help in regards to financing the construction of the stadium.
This construction project will be opening up around 3,000 jobs and an annual tax revenue in the region of $2 million.
One of the sources of this financial project is Magic Johnson and he expressed his joy about the creation of this stadium as the former basketball player said: “This is probably the most exciting thing coming to South L.A. in a long time. This is what the community needed. This is what the city of L.A. needed.”
Magic Johnson is also part-owner of the club and all of the people that are involved in this stadium construction are hoping that it will increase the presence of football in the United States and hopefully turn the sport into a more influential and prominent one in the country like Basketball which is one of the major sports in the United States.