Details are trickling out about the $1-billion stadium the Chargers are envisioning in downtown San Diego, with the venue as the centerpiece of a proposed $1.8-billion convention center-stadium project.
The San Diego Union-Tribune reported Tuesday night that the Chargers and the NFL would pay $650 million of the stadium costs, and the remaining $350 million for the stadium, as well as the $800 million for the convention center, would be raised by way of a 4% increase in the hotel tax.
According to the report, the team would sign a 30-year lease and a non-relocation agreement and would be responsible for construction-cost overruns on the stadium as well as desired improvements in the years to come. The report said that, if approved, the stadium would likely open by 2022. The Chargers’ plan is contingent upon a public vote in November on a stadium initiative, including the corresponding tax hike.
The Chargers, who paired with the Oakland Raiders in a failed attempt to gain NFL approval for a stadium in Carson, have a one-year option to join the Rams in Los Angeles that expires Jan. 15, 2017. If the Chargers don’t decide within that window to move to L.A., the one-year option rolls over to the Raiders.
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