Rams owner plans to build NFL stadium in Inglewood

INGLEWOOD, Calif. (KABC) -- Will an NFL team come back to Los Angeles? Stan Kroenke, owner of the St. Louis Rams, could be making that dream one step closer to reality.

Kroenke has teamed up with the owners of the Hollywood Park development site to build an 80,000-seat NFL stadium in a project called the City of Champions Revitalization Project.

Stockbridge Capital Group had bought the 238-acre Hollywood Park site in 2005 and construction is already underway for a mixed-use community. They are partnering with Kroenke, who owns 60 acres adjacent to that property.

"We are committed to working with (The Kroenke Group) to build a project that will put Inglewood back on the map as the home of truly great sports and entertainment venues," said Terry Fancher, founder of Stockbridge.

At this point, several things need to fall in line. The Rams are expected to convert their lease in St. Louis to a "year-to-year agreement" later this month. Then, if the team and the city fail to reach an agreement to build a new stadium, the Rams could move back to Los Angeles, its home from 1946 to 1994.

No tax dollars would be used for the stadium construction project, which could be completed by 2018.

The developers say signature gathering will begin soon for an initiative that would place the City of Champions Revitalization Project on the ballot for Inglewood voters in 2015. The earliest any team could make the move to Los Angeles would be in 2016.

Inglewood Mayor James Butts says the project will bring jobs to the city.

"The stadium construction piece alone would conservatively employ thousands of workers both during construction and post-construction phases," said Butts.

Butts says the city will assemble a team of experts to analyze all economic and environmental impacts of the project.