Marvin Davis Eyes Racetrack Land for NFL Stadium

Los Angeles billionaire Marvin Davis is negotiating with Hollywood Park to secure an option on 140 acres of land to build a stadium for an NFL expansion team, and a deal could come by Monday, in time to make a presentation to NFL owners meeting in Atlanta this week.

Hollywood Park, recently sold to Churchill Downs, retained the 140 acres for development and is entertaining several offers for the land.

Davis could not be reached, and Hollywood Park officials declined comment. But the NFL and the agent for John Elway confirmed that Davis had met with the retired Denver Bronco quarterback in Los Angeles about joining his ownership effort.

“It’s amazing the amount of homework he’s already done,” said a source familiar with Davis’ plans. “I wouldn’t think he’d be serious about this, given his history, but he’s assembled a team and he’s talking about doing a deal.”

Sources say Davis has been telling people that the NFL has urged him to join the Los Angeles process, a surprise considering the league’s apparent dedication to the Coliseum.

The NFL has anointed the Coliseum as the preferred site and is focusing its attention on Michael Ovitz’s plan for a $298-million stadium project there. But the NFL is concerned that it might run into political roadblocks as it works to put together a financial deal for a stadium and acceptable parking.

The NFL also recently had preliminary talks with Michael Eisner, the head of Walt Disney Co., about him entering the football derby in Los Angeles, possibly in a joint effort with Davis. Eisner’s participation would be on his own and not necessarily include the Disney enterprise.