Newest Major League Soccer club Los Angeles FC hold press event for new stadium site, set to be ready by 2018 inaugural season.

SOUNDBITE (English) Will Ferrell, actor and part-owner of Los Angeles FC soccer club (on new soccer team coming to L.A.) "Even though the MLS has been going on for 20-plus years, we're right on the cusp of breaking through to the next level. I think it will be led by this team. Los Angeles, along with being the media capital of the world, is now about to crystallize its hold on being the sports capital of the world. So I just think it's the right place at the right time."

SOUNDBITE (English) Magic Johnson, former NBA player and part-owner of LAFC: (On what LAFC will bring to the community) "What I am really excited about is our partnership with the community and so we want to provide jobs for them. There are going to be thousands of job opportunity and that is what it's all about; when you think about (LAFC) this is really going to help the surrounding community. When you think about, it is probably going to bring in $350 million of new retail and job opportunity with all this construction going on. So, you are really going to see a real change in this community based on this stadium."

SOUNDBITE (English) Don Garber, Commissioner of Major League Soccer (On the new stadium) "Today this incredible stadium, you have got to turn this camera around and look at that (future) sports arena and think about that as (MLS) 20th soccer stadium. So, a big moment for our league and a big moment for L.A."