Vikings Are Gaining Focus in L.A. Picture

The San Diego Chargers might be the front-runner among NFL teams weighing a move to Los Angeles, but the Minnesota Vikings are not far behind.

Viking owner Red McCombs on Monday said he might sell or move the team because it does not make enough money in the Metrodome. He has hired J.P. Morgan Securities, Inc., which already has contacted representatives of a group looking to build a stadium in downtown Los Angeles.

In a written statement, McCombs said he has hired the investment firm “to assist me in evaluating all possible options. These options will include but not be limited to relocation or a sale. This action is necessary to assure the viability of Vikings football.”

The news comes less than a week after a Philip Anschutz-backed coalition of investors revealed its proposal for a football stadium adjacent to Staples Center.

Also last week, NFL Commissioner Paul Tagliabue announced he will chair a committee that includes five owners and will explore the potential return of pro football to L.A., which has been without a team since the Raiders and Rams left after the 1994 season.

There are no obvious loopholes in the Viking lease, which extends through the 2011 season. The Metropolitan Sports Facilities Commission also has a notarized guarantee, signed in 1979 by former NFL commissioner Pete Rozelle, promising the Vikings would play in the Metrodome for a minimum of 30 years.

Regardless, McCombs is expected to investigate every potential escape clause in the deal. He bought the team in 1998 for $246 million, and last year the franchise was valued at $346 million by Forbes magazine. He reportedly is seeking between $400 million and $500 million for the team.

The Chargers, who also have contacted the Anschutz group, have an out in their Qualcomm Stadium lease that could allow them to leave after the 2003 season if San Diego opts not to match an offer from another city.

Tim Leiweke, president of Anschutz Entertainment Group, said a best-case scenario envisions a downtown stadium being constructed in time for the 2005 season. In the interim, he said, a transplanted team could play at the Coliseum or Rose Bowl.

But advocates of both of those venues say they are vying to be a permanent home for an NFL team. Coliseum officials plan to present a proposal to the Los Angeles City Council today that emphasizes the viability of their stadium.

Meanwhile, according to a Reuters report, the NFL plans to sell $200 million of 15-year bonds to generate money to improve old stadiums and build new ones. In August, the league sold $285 million of 15-year bonds, nearly double the $150 million planned, for the same purpose.