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Formal update on downtown L.A. stadium coming Tuesday

Discussion in 'Chargers Fan Forum' started by CoronaDoug, Jan 28, 2011.

  1. CoronaDoug

    CoronaDoug Well-Known Member

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    Formal update on downtown L.A. stadium coming Tuesday

    Posted by Mike Florio on January 27, 2011, 10:44 PM EST

    Though Dallas will become the center of the NFL universe next week, a fairly large black hole persists in Los Angeles.

    On Tuesday, those hoping to bring the NFL to a to-be-built stadium in downtown Los Angeles will conduct a press conference that promises to provide a “complete briefing,” which will include “new milestone announcements and current timeline.”

    Attending will be AEG’s Tim Leiweke, Casey Wasserman, Los Angeles mayor Antonio Villaraigosa, and others.

    Once the league’s labor situation is resolved, filling the void in Los Angeles becomes the next agenda item, and a sense quickly is developing that the NFL will be back in L.A. before too long.

    The one major question not yet addressed is the identity of the team that will play in L.A. Leiweke recently said that “one or two teams” are ready to move.

    For now, the leading candidate remains the San Diego Chargers, a franchise that geographically is the closest to Los Angeles, and that played there in its inaugural season.

    Formal update on downtown L.A. stadium coming Tuesday | ProFootballTalk
     
  2. DenverBolt67

    DenverBolt67 BoltTalker

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    It is rumored that at the Tuesday press conference, they will announce that they have an agreement for naming rights on the stadium. The rumor that Darren Smith was talking about yesterday, was that it is for $700mil for 30 years if one team plays in the stadium, and $900mil if 2 teams play in it.

    That is a good chunk to get, and will make paying for the stadium much easier

    http://www.dailynews.com/sports/ci_17211858
     
  3. Aggieman

    Aggieman I bleed blue and gold

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    I bet it's for naming rights. With the (timely) death of San Diego Redevelopment Agency, surely we're abandoning all hope that the Chargers will be the next rent-seekers for the city's corporate welfare? That said, none of the LA stadium is predicated along the same tax-defer-withhold-redistribute campaign, right?
     
  4. DenverBolt67

    DenverBolt67 BoltTalker

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    Although the city would have to take out $350 Bil in bonds to rebuild the convention center, AEG has already guaranteed that it will pay for itself, and if not, they would pay off the bonds. So as it looks right now, the whole project in LA will cost close to zero to the city of LA
     
  5. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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    I read where Farmers Insurance Group is going to pay 20 Million a year for 30 years, a 600 Million dollar deal
     
  6. DenverBolt67

    DenverBolt67 BoltTalker

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    LA Daily news is reporting "According to sources, the rights fee is expected to be $700 million over 30 years if one team plays at the proposed stadium and $900 million if it is two".

    So looks like they will likely be getting closer to $30 mil a season since in all likelihood, they will get an AFC and NFC team
     
  7. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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  8. DenverBolt67

    DenverBolt67 BoltTalker

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  9. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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    I guess that’s the difference of living in a small and big media market. I remember the Qualcomm deal. They were 18 million shy to finish the stadium renovation. Qualcomm stepped up and that’s how they finished getting the money to get the stadium rebuilt.
     
  10. wrbanwal

    wrbanwal Well-Known Member

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    Stay, go, I don't care. Just do something dammit!

    I'm tired of this lame duck franchise. Either commit to the fine people of San Diego or get the hell out.
     
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  11. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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    yea, my first payment is due Feb 15th
     
  12. AnteaterCharger

    AnteaterCharger Calibrating Bolttalk, Podcast by Podcast Staff Member Super Moderator Podcaster

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    They can secure naming rights but until the City Council secures some land and permission through its myriad of agencies to begin construction, this is naming rights over empty air. Naming rights are the easy part, getting the LA City Council and the environmental/union groups to play nice with this will be borderline impossible
     
  13. Pointyearedog

    Pointyearedog I only put idiots on ignore...

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    Can there be a Qualcomm Jr.?
     
  14. HEXEDBOLT

    HEXEDBOLT Don't like it, lump it!!!

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    The fine elected officials and their loyal constituents of the City of San Diego have been pussyfooting around now going on nine years. I'm surprised the Chargers are even still there.
     
  15. nflhof

    nflhof BoltTalker

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    If any chargers fan has farmers insurance it's time to find a new insurance carrier if they do this naming rights deal on la. At least we can do something.
     
  16. DenverBolt67

    DenverBolt67 BoltTalker

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    Companies don't pay that much for advertising if they don't think they will make it back plus some. I seriously doubt they have any substantial increases. People don't realize it, but Farmers insurance is owned by a Swiss investment bank. They have the money to blow
     
  17. SDBoltzFan

    SDBoltzFan BoltTalker

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    My dad spent five years suing those dirty bastard for failure to pay a claim on a home burglary. He won, but the pain and suffering he went through was insane. Another reason I could not root for them if they move.
     
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  18. HEXEDBOLT

    HEXEDBOLT Don't like it, lump it!!!

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    I'd hate to see the Chargers leave San Diego as they were the first pro football team I knew about. I am a football fan so I'd still watch them play but it wouldn't be the same. After eight years and millions spent with little or no progress it's hard to find fault in a move.
     
  19. DenverBolt67

    DenverBolt67 BoltTalker

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  20. HEXEDBOLT

    HEXEDBOLT Don't like it, lump it!!!

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    I sure hope they get a new fight song after the move to L.A. going to need a tougher image.
     
  21. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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    that disco version was the ONLY disco song I liked
     
  22. Harley

    Harley BoltTalker

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    c'mon, they already did with staples and the rest of the development. i would bet the stadium was even included in the intitial enviromental scoping documents anyway. the main mitigation will be parking and they're addressing it.
    these guys don't get this far without the probability of success being high.
    the unions won't make a peep, 'cause it'll be a prevailing wage construction job, villarigosa (??) will support it, and again this trail has been blazed by staples and the rest of the development in terms of any service worker contractual issues.
    me thinks this deal is done, LA Chargers once again...
     
  23. Aggieman

    Aggieman I bleed blue and gold

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    Harley, AEG requested that members of the LA City Council stay on only as overseers, not decision-makers, so there's still some belief that city officials will attempt to undermine the effort. Considering the council's spokeswoman had to make a statement at all suggests that Council members want to be seen at least as on top of the situation. There will be some political meddling ahead.
     
  24. Harley

    Harley BoltTalker

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    marginal meddling but it's gonna go...i'm sure every member has heard the words "i was involved with bringing the nfl back" in their next campaign speech. they have little political motivation to kill the thing (if any at all).
     
  25. SDBoltzFan

    SDBoltzFan BoltTalker

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    The comments on the L.A. times article online a couple weeks ago about building a stadium were all negative. I would not say that bringing the NFL back to L.A. is a high priority with most of the people up there. I don't think you will see many politicians campaining on the issue.
     
  26. Harley

    Harley BoltTalker

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    i think it's fait accompli. i think the deal with farmers signifies the confidence the developer has that it'll go. politicians are gonna say things that sound like objections but are really issue to be dealt with rather than deal killers.
     
  27. Aggieman

    Aggieman I bleed blue and gold

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    Never underestimate the power of SEIU Local 721.
     
  28. Aggieman

    Aggieman I bleed blue and gold

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    Er, uh, never underestimate the power of the greatest lobby ever known - the collective conscience of lawmakers to get reelected.

    What circumstances?

    Oh! I don't know...

    Well, good news for Anschnutz, the same measure will be on the next statewide ballot which could be June. Get that check-writing pen ready buddy! Roski won't be sitting still either claiming,
    So, as the Council votes to review the plan, legislators in Sacramento may grease the wheels if the price is right. Ah politics...
     
  29. DenverBolt67

    DenverBolt67 BoltTalker

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    I was listening to XX today and Darren said that his producer saw Roger Goodell and asked him how committed the NFL is to keeping the Chargers in SD. He said he would answer that question tomorrow after he completes the State of the NFL address. She said she would make sure she was at the press conference, and would make sure the question gets asked.

    Should be interesting to hear his answer
     

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