As the Chargers wait to see whether their stadium ballot measure passes next month, details of their L.A. option “haven’t been disclosed,” but it “generally matches" what Rams Owner Stan Kroenke proposed in a letter to the NFL last year, according to sources cited by Brent Schrotenboer of USA TODAY. Sources said that the Chargers and Rams “would be tenants of a stadium company and pay a minimal amount of rent to it” after the $2.6B stadium in L.A. opens in ‘19. Both teams “would help pay off the stadium construction debt” with $200M in NFL loans for each team, plus “founding partner sponsorships, personal seat licenses and stadium naming rights that increase in value with two teams instead of one.” Excess revenues from these assets “would be split between the teams.” Each would be “responsible for its own game-day expenses and revenues.” For the Chargers, that means they would “at least be able to make what they could sell on game days in a swanky new stadium in a bigger city.” Vanderbilt professor John Vrooman said that after paying a $650M NFL relocation fee over 10 years, the Chargers’ value would be about $50M greater in L.A., at about $2.725B, “than it would be at the new stadium proposed in San Diego.” Schrotenboer notes Ballot Measure C “effectively asks voters if they want to increase the room tax from 12.5% to 16.5% to help fund the project,” with $650M provided by the team and the NFL. It requires a "daunting two-thirds approval.” If the vote fails, Chargers Chair Dean Spanos has until Jan. 15 to decide on L.A., or risk having the Raiders “take the second spot” in L.A. Fortunately for Spanos, the Raiders “currently are targeting a new stadium in Las Vegas" ( USA TODAY, 10/26 ).
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