Kroenke bought 60 acres of land adjacent to the Forum in Inglewood last year and teamed up Stockbridge Capital Group with plans to build an 80,000-seat NFL stadium, a 6,000-seat performance venue and add retail, office, hotel and residential space to the Hollywood Park site, which Stockbridge owns.
Los Angeles has not had an NFL since the Rams and Raiders moved out of town after the 1994 season. Any move or relocation must be approved by the league’s owners.
The Rams can terminate their lease with the city of St. Louis because they haven’t reach a deal to help fund renovations for the 19-year old Edward Jones Dome. The team is expected to lease the stadium on a year-to-year agreement.
The NFL has said that they are not considering any team relocating in time for the 2015 season and any team that does move would have to play in a temporary venue.
“We are excited to unveil an expanded plan that will bring a world-class sports and entertainment district to Hollywood Park,” Terry Fancher, founder of Stockbridge, said in a statement. “We are committed to working with [the Kroenke Group] to build a project that will put Inglewood back on the map as home of the truly great sports and entertainment venues.”
Kroenke is the NFL’s second richest owner, worth $5.8 billion, according to Forbes Magazine. His family also owns the Denver Nuggets and Colorado Avalanche, and are significant shareholders of the English soccer club Arsenal.