Billionaire Stan Kroenke, the owner of the
"As real estate developers, the Kroenke Organizations are involved in numerous real estate deals across the country and North America," a Kroenke Organization spokesperson wrote in an email statement.
"While we can confirm media reports that we recently purchased land in Inglewood, as a private company we don't typically discuss our plans for commercial or residential investments. We have yet to decide what we are going to do with the property but we will look at all options, as we do with all our properties."
Los Angeles has been without an NFL franchise since the Rams and Raiders left after the 1994 season. Although relocating a franchise would be fraught with challenges, and the L.A. market repeatedly has been used as leverage to get stadium deals done in other cities, this is the first time an NFL owner has bought a piece of land in the L.A. area capable of accommodating a stadium.
The Rams have been unable to work out a stadium deal in St. Louis, and, according to the terms of their lease, are able to move after the 2014 season.