The city of San Diego is making an attempt to keep its NFL team, the San Diego Chargers, from possibly moving to Los Angeles.
A 42-page financing plan reveals an array of possible revenue sources for a new $1.1 billion San Diego Chargers NFL football stadium. The plan includes $200 million coming from the NFL, $300 million from the Chargers and $173 million in bonds. Another $242 million would be contributed by county and city taxpayers ($121 million each), but no tax increases would be required so a public vote would not be necessary
In addition, the city would sell 75 acres of the Qualcomm Stadium site for an estimated $225 million. Finally, fans would generate $11 million over 30 years with ticket and parking surcharges and an estimated $120 million in personal seat licenses.
The revenue proposals would generate a combined $1.4 billion, nearly $300 million more than the task force estimates the stadium would cost. Construction of the new stadium could begin by 2018 with the stadium open for the 2020 season.
(more on the proposed new San Diego Chargers NFL stadium...)
