Earlier today, San Diego Mayor Kevin Faulconer’s Citizen Stadium Advisory Group proposed a 1.1 billion dollar plan to build a new football stadium on the Mission Valley site where Qualcomm Stadium currently sits.
To pay for the proposed stadium, parking, stadium-related infrastructure and operations and maintenance, CSAG’s financing plan includes 60 acres of land from the City of San Diego valued at $180 million, and more than a dozen funding sources that exceed $1.4 billion, including:
- $300 million from the Chargers
- $173 million in bondable construction capital from the team’s rent.
- $200 million from the NFL.
- $121 million from the County of San Diego.
- $121 million from the City of San Diego.
- $225 million from the sale of 75 acres of land.
- More than $100 million from fans, who would contribute through the purchase of Personal Seat Licenses (PSLs), and ticket and parking surcharges.
What do you think of CSAG’s proposal? Did they do a good job? Do you think the Chargers will pursue this option?
About a week ago, Scott Kaplan worried about what would be presented today: