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Report: Chargers Will Exercise Option to Relocate to Los Angeles
It’s unofficially official. The Chargers are moving to Los Angeles. Probably.
At the NFL owners meeting in January the Chargers were granted the option to relocate to L.A., with a deadline of January 15, 2017. According to sources who spoke to ESPN’s Jim Trotter, “barring a miracle,” the team is expected to exercise that option and move in with the Rams in 2017.
Going forward, the Chargers have a tenant-lease agreement with Rams owner Stan Kroenke, whereby they can share his fancy new Inglewood stadium without having to contribute to its $2.6 billion construction. However, the teams would share revenues from naming rights, sponsors, and advertising, which is a pretty sweet deal for the Bolts.
News of the decision comes a little more than three weeks after San Diego voters rejected Measure C, which would have authorized the use of $1.15 billion in public money on the Chargers’ $1.8 billion stadium proposal. The ballot initiative required 66% approval but got just 44%, which was a pretty resounding hell no.
While the team does not have to contribute to the cost of building the stadium in Los Angeles, they will have to pay the NFL’s $650 relocation fee—which, incidentally, is the same amount they were willing to contribute to the construction of a new stadium in San Diego.
The Chargers declined to confirm that they are exercising their option to move to Los Angeles. However, they didn’t deny it either.
“[Team Chairman] Dean [Spanos] has said that he wants everyone to be able to focus on the remainder of the Chargers’ season, and so [he] won’t be making any final decisions until after the season is over,” said Mark Fabiani, who has been heading up the team’s stadium efforts. “That hasn’t changed.”
Sorry, Chargers fans. It looks like this year’s tearful goodbye will be for real.
Hat Tip – [ESPN]