SAN DIEGO - The
San Diego Chargers said Thursday
they probably need public money to build
a new stadium on a downtown site just
east of Petco Park.
The team has said since 2002 that it
wants to finance stadium construction
privately, although they have sought a
piece of public land to develop and help
pay for the stadium.
Previous sites under consideration would
have accommodated both a stadium and a
related development project, the profits
from which would help pay for the costs
of the stadium.
Chargers lawyer Mark Fabiani said
Thursday that because the downtown site
is just bigger than 10 acres, it would
accommodate just the stadium and no
related development to help pay for the
stadium.
That would require other sources of
funding, in addition to US$200 million
from the Chargers and a hoped-for $100
million loan from the NFL, Fabiani said.
Fabiani said the team, which plays at
aging Qualcomm Stadium in Mission
Valley, wants to put any stadium measure
onto a public ballot.
Fabiani said it's too soon to say what
other funding sources may be available.
A redevelopment agency is sponsoring a
financing study.
"Nonetheless, we believe it is important
for everyone to understand that the
downtown site might require some sort of
taxpayer subsidy," Fabiani said.
Such a subsidy would only be possible if
voters agree that an investment downtown
will result in significant returns for
taxpayers elsewhere, he said. The city
could save the $300 million or more
taxpayers will pay through 2020 to
maintain the Qualcomm Stadium, Fabiani
said, and the city could sell, lease or
otherwise generate hundreds of millions
of dollars of revenue from the 166-acre
Qualcomm site.
and 
Sports Writer, San Diego Union-Tribune
