This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

After investing five years and $50 million in an attempt to bring an NFL team back to Los Angeles, AEG is abandoning plans for its Farmers Field football stadium downtown.

A rendering of the proposed Farmers Field, which was envisioned for downtown Los Angeles. AEG's development agreement with the city of Los Angeles expires April 17. (Credit: AEG)
A rendering of the proposed Farmers Field, which was envisioned for downtown Los Angeles. AEG’s development agreement with the city of Los Angeles expires April 17. (Credit: AEG)

The sports and entertainment conglomerate is no longer in discussions with the NFL or any teams about the project, company officials said Monday.

“I think it’s fair to say we have turned our attention to proceeding with an alternative development,” AEG Vice Chairman Ted Fikre said.

“It’s been in Ohio as early as the mid-1850s at least, brought in as an ornamental plant because of its unique foliage and white flowers,” Gardner said. “It was actually planted in people’s landscaping, and it has been spreading.”

Fikre said AEG will not seek an extension of its deal with the city, which expires April 17 and hinges on a long-term agreement with a team. The city, which owns the proposed stadium land, had already given the company an additional six months.

Click here to read the full story on LATimes.com.