With the economy the way it has been, citizens don't want to pay welfare to billionaires.
$B of freeway, water, sewer, gas, satellite, internet, telecomm, parking, fire station, and police station infrastucture has already been build, paid, and staffed by AEG when it built Staples Center. Lakers, Clippers, Oscars, and last Sunday's Emmys have been at Staples for years. AEG will own Farmers Field and rent it out for football, track, soccer, boxing, etc. The train lines have already been in use for years paid for by federal grants.
The L.A. Convention Center was built in the 1960s, is 40 years old, and long overdue improvements. Upgrades are too costly so it needs to be torn down and rebuilt. The L.A. Convention Center is not used for sports.
Soon the Space Shuttle is coming to Exposition Park for permanent display. As part of the initial land grant, by law, Exposition Park is owned by the citizens of Los Angeles thus private luxury boxes are NOT allowed. USC, etc. may not own any of the venues on Exposition Park. USC has a new 10,000 seat Galen Center indoor venue.
USC football and UCLA football are expected to play at Farmers. Maybe the Oakland Raiders, and perhaps a 2nd NFL teams will make their home stadium at Farmers. FIFA Mens, FIFA Womens, and IAAF are in talks. NFL commissioner & owners want to rotate every other or every third Super Bowl to Farmers.