The NFL's owners are currently meeting in Houston to discuss potential relocation for Los Angeles. The process is scheduled to last two days, but an important part of the meeting just wrapped up. The committee studying the issue has recommended the Carson project that involves the San Diego Chargers and Oakland Raiders. The committee's recommendation is not binding, but it can carry some weight with the owners.
The other project on the table was a stadium in Inglewood, presented by the St. Louis Rams. There was some thought that the NFL might consider a Rams/Chargers project in Inglewood. The owners are meeting now to discuss the recommendations, and will decide on the next step in this process. A lot can still happen, but this bodes well for the Chargers/Raiders plan. Final word likely comes on Wednesday.
If the Chargers and Raiders do end up moving to Los Angeles, there will need to be some realignment. The league would not allow two teams from the same conference in the same city, largely due to television issues. Instead, one team would move to the NFC. If that happens, odds seem pretty good that the Seattle Seahawks would return to the AFC. That would certainly be a big deal given how Seahawks franchise has developed. Even with the Raiders on the upswing, the balance of power shifts a little bit with a potential Seahawks move to the AFC.
I still would prefer the Rams moving to LA so as to cut down on travel distance, but St. Louis still seems like the city closest to getting an actual stadium deal done.