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Report: Chargers will not trigger the 2011 exit clause

Discussion in 'Chargers Fan Forum' started by Concudan, Dec 8, 2010.

  1. Concudan

    Concudan Caffeinated Commando

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    Mayor told by team it will not exercise lease exit clause in '11

    Mayor told by team it will not exercise lease exit clause in '11
    Posted 21 minutes ago
    aaCity of San Diego and Chargers to continue work on Downtown San Diego Stadium
    The Chargers have notified San Diego Mayor Jerry Sanders that the team will not trigger the 2011 exit clause in its lease, according to a statement issued by the Mayor's Office.

    “Dean Spanos notified me today that the Chargers would not in 2011 exercise the exit provision in its lease with the city,” Mayor Sanders said in the statement. “I very much appreciate the commitment that Dean, his family and the Chargers have shown throughout the team’s eight-year search for a new stadium. The Chargers understand, and we all do, the tremendous challenges facing our region during these historically difficult economic times. But, even in the face of these challenges, we will be able to work through 2011 with the Chargers on a stadium solution downtown that works for both taxpayers and the team.”

    In an interview with Chargers.com, team President Dean Spanos said that "we are grateful for the Mayor's support, along with the attention our efforts have received from CCDC (Center City Development Corporation) Chairman Fred Maas and members of the City Council. In 2011, we will continue our work of the last, almost nine years now: Finding a stadium solution that works for both the team and the public."

    The lease between the City and the Chargers provides that the Chargers can terminate the lease by offering notice and a termination payment to the City between February 1 and May 1. These termination provisions have been in effect since 2004, although in each subsequent year the Chargers have continued the team's stadium search in San Diego County.

    "We have explored every possible option in the County," said Chargers stadium point person Mark Fabiani. "Now the downtown San Diego site represents our best remaining shot at a solution."

    Fabiani explained the advantages of the downtown San Diego location.

    "The site is in a redevelopment area that will benefit from the recent legislative increase in the CCDC spending cap; the necessary transportation and other infrastructure is in place, dramatically reducing the cost of the project; and City leaders have a vision for a sports, entertainment and convention district that would be anchored by a new Super Bowl-quality stadium."

    The Chargers have already conducted an extensive site analysis, according to Fabiani. In the coming months the Chargers, the NFL and the City of San Diego will be working together to determine if a viable financing plan can be created and placed on the ballot in 2012.

    Fabiani also addressed the recent rumors about a new stadium in downtown Los Angeles.

    "Every time a serious new stadium idea emerges from Los Angeles, the Chargers -- along with several other teams -- are caught up in the rumor mill. It happened two-and-a-half years ago when Ed Roski proposed his new stadium in the City of Industry, and it is happening again now. But as we know better than most, it's extraordinarily difficult to build a new football stadium anywhere in California."
     
  2. Concudan

    Concudan Caffeinated Commando

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    Hmmm... Well Trumpy?
     
  3. Old School SD Fan

    Old School SD Fan Unhappy Camper

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    Articles have generally been reporting that the Chargers would stay through 2011 in part due to the labor uncertainty in the NFL, with 2012 being the likely exit year. Accordingly, I read nothing much into this. Nor should you.
     
  4. Concudan

    Concudan Caffeinated Commando

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    Ahhh... Well what would you read into? The Chargers are not triggering the early exuit clause. What more do you want to see? I know, I know, your the bad arse realist fan I am the homer, now that, that is out of the way, what are you looking for?
     
  5. ntman68

    ntman68 Well-Known Member

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    What does this really mean? When does their lease expire?
     
  6. AnteaterCharger

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

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    2020 but from here on in the penalty to split San Diego decreases
     
  7. HEXEDBOLT

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

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    It really doesn't mean a whole lot of anything as there may not be a season next year.
     
  8. Old School SD Fan

    Old School SD Fan Unhappy Camper

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    Both sides expect a shutdown in 2011. There is as of yet no stadium in L.A. AEG has ducks to line up before pulling a move. All have been reported as practical reasons the Chargers would remain in SD through 2011, even if AEG buys Alex's 36%. This was expected.

    2012? Completely different question.

    Again, Concy, you can grasp at the life preserver, but if the waters are freezin' it ain't helpin'.
     
  9. Concudan

    Concudan Caffeinated Commando

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    Or you could dive right in the water because you want to show the shinking ship what a robust bad arse you are. Same effect. you choose to drop turds in the punchbowl and say "I am realistic fan hear me roar!" but the fact is you are wrong most of the time because you cant get past your doom and gloom mentality.

    What this says is the Team has not given up on San Diego. Read what you want, I am sure in typical eeyore fashion it will be taken as a harbinger of ill will by you...
     
  10. nickelbolt

    nickelbolt Fuggedaboutit

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    Nice PR smokescreen... eerrr... I mean... excellent article and great news!!! WOOO HOOO!!


    *chargers are fu.cked*
     
  11. wrbanwal

    wrbanwal Well-Known Member

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    nice.

    but did they a have choice, really? I suppose they could have played in the coliseum somehow
     
  12. Trumpet_Man

    Trumpet_Man Well-Known Member

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    A few things come to mind.

    1. A new owner who will have controlling interests can change his mind and exercise the exit clause.

    2. Dean is protecting ticket sales

    3. There may be no football next year so Dean's comment is shallow at best as was mentioned earlier.

    4. Dean is basically a lame duck owner with the team for sale so I take any committments from a person in that position with a grain of salt.

    5. If Dean wants to convince the fans the Spanos' want to keep the team here, then consolidated a power base to maintain controlling interest in the team. Dean does this and hot damn he is a rock star. The new owner (36%) can not take this team anywhere. The bonfire is cancelled.
     
  13. Eric

    Eric BoltTalker

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  14. HEXEDBOLT

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

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    I'm not one of those to worry about tomorrow as it's not here and looking at 2012 I have no clue if I'll be here. So, I'll just sit back and let y'all worry about it.
     
  15. Trumpet_Man

    Trumpet_Man Well-Known Member

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    How so ?

    I read this as a deadline for Spanos to sell by the end of Feb 2011 or AEG may not be interested. Hmmmm.....the arm twisting begins....The Show Down at OK Corral.
     
  16. wrbanwal

    wrbanwal Well-Known Member

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    I don't know about you, but for me, the pendulum of hope & doom might have stopped swinging toward doom.
     
  17. Old School SD Fan

    Old School SD Fan Unhappy Camper

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    It struck me as mostly a squeeze play on the NFL. That seemed to be the focus to me, AEG could easily already have a deal struck for a team, and of course NO team would announce such until the conclusion of this season. February works out just right.

    Not saying the Chargers are gone, just saying that none of the info coming out impedes them from being moved in 2012 to L.A.
     
  18. Trumpet_Man

    Trumpet_Man Well-Known Member

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    That is exactly what I am thinking.
     
  19. Trumpet_Man

    Trumpet_Man Well-Known Member

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    Knowing Dean is in damage control mode with this team for sale, my pendulum says the bastard is laughing all the way to the bank. I do not trust Spanos for chit.

    What would be cool is if Dean is doing this just to tweak the berries of the City of San Diego to get them to MOVE faster on a stadium deal and there is no intention to move the team. That would be the mother of all McGuiver moves. Part of me says this is a real possibility so that pendulum you refer to has a moment for pause in that swing.
     
  20. DenverBolt67

    DenverBolt67 BoltTalker

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    Exactly. It would have cost over $50 mil to get out of their lease last year, it would cost approx $26 mil next year, and decreases every year after that until 2020.

    I am not sure what the buy out will be in 2012
     
  21. DenverBolt67

    DenverBolt67 BoltTalker

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    If that was the case, they are doing a very poor job of PR to get citizen support. A huge % of the citizens still think the Chargers want a free stadium that the city will be paying for and handing over to the Chargers, when the fact is the city will own and collect lease payments from the Chargers for the next 30 years. The Chargers PR staff has done a terrible job at getting the facts out to the public
     
  22. gsxr

    gsxr BoltTalker

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    There won't be a season next year. I am feeling San Diego just doesn't want pro sports any more. It's always been a resort town and sports were an afterthought. The powers that be seem to want mission valley to be shopping centers and car dealerships. Sheesh it's been going on for quite a while now. I miss the old valley and I'll miss the Merf. Jack was the guy who got a pro team here in the first place. Game over man!
     

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