May 19, 2015 Comments Off on $1.1B Chargers Stadium Plan Revealed Views: 332 California News, San Diego

$1.1B Chargers Stadium Plan Revealed

The mayor’s office in San Diego has come up with a plan to build a new stadium for the NFL’s Chargers. The $1.1-billion stadium would be in Mission Valley on the 166-acre site that is currently home to Qualcomm Stadium.

Funding would come from a variety of sources. Under the proposal, the Chargers would pay $300 million, the NFL would pay $200 million, $173 million would come from bondable construction capital from the team’s rent, and the city and county would each throw in $121 million. Additionally, about $225 million could come from developers of an adjacent site in Mission Valley, and $100 million could be contributed by fans through ticketing and parking charges.

If approved, ground could break as early as 2017.

Read More at San Diego Business Journal

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