Report: Chargers pursuing downtown San Diego stadium to be built by 2022
The Chargers are planning to build a downtown stadium in San Diego by 2022 according to a report.
By
Will Brinson
•
1 min read
The Chargers are one step closer to securing a long-term home in San Diego, according to a report from ABC 10 in San Diego.
The station reported Tuesday night that the franchise believes it can open a new downtown stadium in San Diego by the year 2022.
The Chargers have been fairly locked in on remaining in San Diego for a while now after the Rams' Los Angeles stadium project won out among NFL owners in a vote over the Chargers and Raiders' joint Carson project. That left the Chargers still lacking a stadium to play in for the long haul.
Recent efforts focused heavily on downtown San Diego, and it looks like they might be closer to launching a public plan.
According to the report the stadium will be a 65,000-seat stadium (Qualcomm is 70,000) and will be "municipally owned."
A "Joint Powers Authority" will run the stadium along with any "non-NFL events" there.
Most important? The money. Per ABC 10, $650 million of private money from the Chargers will help fund the stadium, including the $300 million from the NFL as a non-relocation bonus.
The rest will come through taxation:
As previously reported, the proposal to raise the city's Transient Occupancy Tax (TOT) from 12.5 percent to 16.5 percent will help fund the project.
The TOT will pay for the remaining $1 billion on the overall project -- $650 million for the convention center and $350 million to integrate the stadium.
The Chargers will reportedly keep all NFL-related revenue as well as the naming rights for the stadium.
