Roski’s NFL Bid Could Get a Boost

Billionaire Eli Broad, one of Southern California’s most prominent civic and business leaders, is seriously considering joining up with developer Ed Roski Jr. in his proposal to bring a professional football team to the Los Angeles Coliseum.

If Broad does take an ownership interest with Roski--an announcement could be made as early as Thursday--it would provide a significant boost in the efforts to get the expansion franchise as the NFL’s 32nd team to Los Angeles and to renew the historic Coliseum and its surrounding area near downtown, observers say.

Broad has said through a spokesman that he “hasn’t reached any conclusions yet.” But a news conference has been tentatively scheduled for Thursday morning at Mayor Richard Riordan’s office.

Broad, 65, who last summer became of the nation’s 50 wealthiest people when he sold his financial services company SunAmerica Inc., would be able to provide the financial muscle that the New Coliseum project was lacking. He has long been an outspoken advocate for revitalizing downtown.

“It would be a validation that Roski has put something together that makes economic sense,” said Steve Soboroff, a senior Riordan advisor.

At the same time, Broad’s entry could jeopardize a competing bid by former Hollywood super-agent Michael Ovitz, who has proposed a new football stadium and shopping center in Carson. Ovitz’s plan would put together a star-studded ownership group that includes actors Tom Cruise and Kevin Costner. Ovitz could not be reached for comment Tuesday.

The NFL is also considering a third bid by Houston. But analysts believe that the NFL prefers the larger, lucrative Southern California market, which was abandoned by the Rams and Raiders before the 1995 season. The next NFL owners’ meeting is Feb. 16 in Atlanta, when it is possible--but unlikely--that they will decide who will be awarded the league’s new franchise.

Roski, 60, an industrial developer and co-owner of the NHL Kings, was a major force behind the development of the Staples Center arena downtown, where the Kings, Lakers and Clippers will play next season. Since wrapping up the Staples Center, Roski has worked avidly with City Councilman Mark Ridley-Thomas on the New Coliseum project, which calls for a complete face-lift of the venerable site that hosted the 1932 and 1984 Olympics. The new stadium, on the Coliseum site, would preserve the peristyle and outside walls. Analysts say Roski, who made his fortune through his family’s industrial development company, Majestic Realty Co., has made a strong case for the New Coliseum project in one-on-one meetings with NFL owners and in a formal presentation to the league last October in Kansas City. Roski previously said that he planned to identify an ownership group involving a handful of partners as soon as mid-January.

In an interview Tuesday night, Roski would not comment about the possibility of Broad joining his group. But he said he would welcome a prominent leader like Broad.

Roski has said he would take 33% ownership in the team, which is expected to cost a total of $1 billion. That would include an estimated $500-million franchise fee charged by the NFL. The other main costs are for development and construction.

Initially, the New Coliseum project had the implicit financial support of Denver billionaire businessman Philip Anschutz. With Roski, Anschutz co-owns the Kings and he owns a major share of the Staples Center, along with Rupert Murdoch’s Fox television company.

But Anschutz, who has been focusing on professional soccer, has since pulled himself out of taking a financial interest in the New Coliseum project. And Roski has said he would line up a group of owners rooted in L.A.

Broad is probably Southern California’s most prominent civic and business leader. He spearheaded the successful fund-raising for the downtown Walt Disney Concert Hall and he is credited for getting the Museum of Contemporary Art built, also located in downtown. Roski is also a board member of MOCA, and Roski’s company, Majestic, donated more than $1 million to the Disney Hall project.

Broad is a co-owner and co-chairman of the Sacramento Kings and the ARCO Arena. Broad became worth $3 billion or more with the sale of his company to American International Group in an $18.5-billion deal that creates a global powerhouse in sales of insurance and retirement savings products.