Maize
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RE: Spanos convoys "Commitment to San Diego"....
(03-30-2016 08:42 AM)adcorbett Wrote: Don't know if there is anything "new" in this, but came across this today
Report details the Chargers' plans for $1-billion stadium in San Diego
The San Diego Union-Tribune reported Tuesday night that the Chargers and the NFL would pay $650 million of the stadium costs, and the remaining $350 million for the stadium, as well as the $800 million for the convention center, would be raised by way of a 4% increase in the hotel tax.
According to the report, the team would sign a 30-year lease and a non-relocation agreement and would be responsible for construction-cost overruns on the stadium as well as desired improvements in the years to come. The report said that, if approved, the stadium would likely open by 2022. The Chargers’ plan is contingent upon a public vote in November on a stadium initiative, including the corresponding tax hike.
Just beat me to it...also very interesting in regards to Oakland and the Raiders...the more natural other city for the Raiders outside of Oakland-(which is doing absolutely nothing to keep them) is Los Angeles for Marc Davis team.
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03-30-2016 09:33 AM |
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Wedge
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RE: Spanos convoys "Commitment to San Diego"....
(03-30-2016 09:33 AM)Maize Wrote: (03-30-2016 08:42 AM)adcorbett Wrote: Don't know if there is anything "new" in this, but came across this today
Report details the Chargers' plans for $1-billion stadium in San Diego
The San Diego Union-Tribune reported Tuesday night that the Chargers and the NFL would pay $650 million of the stadium costs, and the remaining $350 million for the stadium, as well as the $800 million for the convention center, would be raised by way of a 4% increase in the hotel tax.
According to the report, the team would sign a 30-year lease and a non-relocation agreement and would be responsible for construction-cost overruns on the stadium as well as desired improvements in the years to come. The report said that, if approved, the stadium would likely open by 2022. The Chargers’ plan is contingent upon a public vote in November on a stadium initiative, including the corresponding tax hike.
Just beat me to it...also very interesting in regards to Oakland and the Raiders...the more natural other city for the Raiders outside of Oakland-(which is doing absolutely nothing to keep them) is Los Angeles for Marc Davis team.
Raiders may not be leaving, either. That relocation fee is a killer.
The relo fee is either $550 million up front, or $64 million per year for 10 years. Neither Davis nor Spanos has $550 million, so in LA they'd be paying the NFL $64 million each year for the first 10 years. Their finances would go from profitable to just break even for 10 years, and that's only the relocation fee. The money they'd have to pay to be part of Kroenke's "NFL Disneyland" would be in addition to that.
The Chargers' proposal further shows how much of a financial obstacle an LA move would be for them. Even if they win the vote in November and there are no lengthy delays because of lawsuits, they are anticipating opening the new stadium in 2022.
The Chargers are willing to play 6 more seasons in their outdated 1970s multipurpose stadium (remember, all of last year they called the stadium completely inadequate) instead of paying hundreds of millions to join the Rams in Inglewood.
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03-30-2016 12:32 PM |
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Maize
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RE: Spanos convoys "Commitment to San Diego"....
(03-30-2016 12:32 PM)Wedge Wrote: (03-30-2016 09:33 AM)Maize Wrote: (03-30-2016 08:42 AM)adcorbett Wrote: Don't know if there is anything "new" in this, but came across this today
Report details the Chargers' plans for $1-billion stadium in San Diego
The San Diego Union-Tribune reported Tuesday night that the Chargers and the NFL would pay $650 million of the stadium costs, and the remaining $350 million for the stadium, as well as the $800 million for the convention center, would be raised by way of a 4% increase in the hotel tax.
According to the report, the team would sign a 30-year lease and a non-relocation agreement and would be responsible for construction-cost overruns on the stadium as well as desired improvements in the years to come. The report said that, if approved, the stadium would likely open by 2022. The Chargers’ plan is contingent upon a public vote in November on a stadium initiative, including the corresponding tax hike.
Just beat me to it...also very interesting in regards to Oakland and the Raiders...the more natural other city for the Raiders outside of Oakland-(which is doing absolutely nothing to keep them) is Los Angeles for Marc Davis team.
Raiders may not be leaving, either. That relocation fee is a killer.
The relo fee is either $550 million up front, or $64 million per year for 10 years. Neither Davis nor Spanos has $550 million, so in LA they'd be paying the NFL $64 million each year for the first 10 years. Their finances would go from profitable to just break even for 10 years, and that's only the relocation fee. The money they'd have to pay to be part of Kroenke's "NFL Disneyland" would be in addition to that.
The Chargers' proposal further shows how much of a financial obstacle an LA move would be for them. Even if they win the vote in November and there are no lengthy delays because of lawsuits, they are anticipating opening the new stadium in 2022.
The Chargers are willing to play 6 more seasons in their outdated 1970s multipurpose stadium (remember, all of last year they called the stadium completely inadequate) instead of paying hundreds of millions to join the Rams in Inglewood.
Giving the San Diego Stadium too much credit on age...that thing opened in 1967...Oakland Coliseum opened in 1966...both are well past their prime and illustrate the point you're making.
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03-30-2016 12:54 PM |
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adcorbett
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RE: Spanos convoys "Commitment to San Diego"....
(03-30-2016 12:32 PM)Wedge Wrote: Raiders may not be leaving, either. That relocation fee is a killer.
The relo fee is either $550 million up front, or $64 million per year for 10 years. Neither Davis nor Spanos has $550 million, so in LA they'd be paying the NFL $64 million each year for the first 10 years. Their finances would go from profitable to just break even for 10 years, and that's only the relocation fee. The money they'd have to pay to be part of Kroenke's "NFL Disneyland" would be in addition to that.
But being a part of the NFL Disneyland is not necessary. There is no other owner who's team is remotely part of something like that, the closest being Jerry Jones. Why people think they deserve or need to be a part of that, I don't know. That is Kroenke using one development, to fund another one, something no other professional sports franchise owner has done. That is not about competition in terms of a franchise needing money to survive or thrive. That is well above and beyond that.
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03-30-2016 12:58 PM |
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