LOS ANGELES -- A week after Tim Leiweke, president and CEO of AEG, formally laid out a timeline and proposal to build a $1 billion football stadium and events center in downtown Los Angeles, AEG revealed architectural renderings of the proposed venue from three design firms.

The three firms were picked from an original field of nine and AEG will choose a design and work on the entitlement process with the City of Los Angeles within 30 days.

AEG has hired ICON Venue Group, a project management firm that worked on Denver's Invesco Field, to act as AEG's representative in the process after working with the group to build the 02 Arena in London.

Tim Romani, president of ICON Venue Group, said Wednesday the project would be built within AEG's $1 billion budget and on the proposed site, which is where the Los Angeles Convention Center's West Hall currently sits. The plan is to first tear down the West Hall, build a $350 million replacement and then begin construction on a 75,000-seat retractable roof stadium. If all goes as planned, construction on the new stadium would begin by 2012 with the stadium ready to be opened in time for the 2015 NFL season. AEG is also hoping the new stadium will host the Super Bowl in 2016, which would be the 50th anniversary of the first Super Bowl, which was held at the nearby Los Angeles Memorial Coliseum.