Yesterday the NFL has confirmed the financial backing of the San Diego Chargers new stadium. The NFL plans to contribute $200 million towards the Chargers new stadium project.
This information was given in an hour-long phone conversation held between Adam Day (Stadium Task Force Chairman) and the NFL Executive Vice President Eric Grubman. According to Day, the conversation involved a variety of topics regarding the new stadium plans. This was only a preliminary meeting and the real face-to-face meeting will take place next Tuesday.
“He confirmed what we’ve heard before, that the league is probably good for around $200 million and that we could use that in the development of our financing plan,” Day said. “But that’s dependent on all the other parts coming together.”
A new stadium has been a pressing issue in San Diego for a couple of years now. Their current venue, Qualcomm Stadium, has been remodeled and renamed multiple times since it first opened back in 1967. It shows its wear and tear from standing for almost 50 years.
There is speculation that the new stadium could be the home for not only the chargers but the Oakland Raiders as well. For now this is just a rumor, but the Raiders are also looking get out of Oakland and this move could make sense for both teams financially.
According to Adam Day and his group members, they hope to finalize a financial plan by May 20, 2015. The new “Mission Valley Stadium” is estimated to have a total cost between $750-$850 million.
If the plan falls through for Mission Valley Stadium, the Chargers have been linked to move to Los Angeles. The St. Louis Rams owner Stan Kroenke still plans to build a stadium in Inglewood and will be looking for some team to represent this newly built stadium.
When Day was asked how the NFL felt about the Chargers moving out of San Diego, he responded, “He reiterated what he’s said before, that the Chargers and the league both prefer to be in San Diego. We’re all cognizant of the forces at play in Los Angeles, and we’re hoping for a solution that avoids the team going to Los Angeles. He repeatedly offered the assistance of himself and his staff.”
With a lot of question marks still left for Day and his group members, these next two months will be crucial for his team to get a plan on the table. The group hopes to work hand-in-hand with the NFL and its executives to expedite this process.