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Blog Entry

Chargers won't bolt on stadium lease in 2012

Posted on: January 9, 2012 12:54 pm
 
By Will Brinson

The Chargers have an awkward termination clause in their stadium lease: for three months each year, they have an option to terminate the lease in full, owing $20-some million in bonds depending on what year they decide to terminate the lease. Last year, they announced in December that they wouldn't exercise the option.

This year, they waited until January, but the Chargers and the City of San Diego announced on Monday that football in San Diego is safe for 2012 as well.

"The City of San Diego and the Chargers continue to work closely together to explore publicly acceptable ways to build a Super Bowl-quality stadium on the bus maintenance yard site in the East Village of downtown San Diego," San Diego Mayor Jerry Sanders and Chargers Owner Dean Spanos said in a joint statement. "To give this ongoing process every chance to succeed, the Chargers have announced that the team will not trigger the lease’s termination clause in 2012.

"Both the Mayor’s Office and the Chargers look forward to continuing their joint efforts to build a multi-use stadium that will benefit the entire region."

The Chargers lease doesn't actually expire until 2020, but the three-month window, which occurs between February and April, offers the Chargers a chance to ... bolt. They won't be doing that this year, despite increased speculation that the Chargers would be a perfect fit for football in Los Angeles.

"It’s nothing new," Chargers general counsel Mark Fabiani said. "We made it clear to AEG long ago that we’re not interested in their site. We’ve had a contentious relationship with them since we said we didn’t believe they could get it done, and it certainly appears there’s no chance they can get any construction started in 2012."

And there's the catch: there's no stadium in Los Angeles. There's not even ground broken on a stadium in Los Angeles. Even if the Chargers wanted to move, they couldn't be assured that there would be a new stadium ready for them and thus it makes little sense to move. Hence why they're already locked in to keeping the lease intact, before the expiration window even opens.

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Comments

Since: Mar 7, 2011
Posted on: January 9, 2012 8:04 pm
 

Chargers won't bolt on stadium lease in 2012

If the Chargers want to move to L.A. they would.  There are two stadiums available to play in while waiting for one to be built, LA coliseum, and rose bowl.  The move charges would be picked up by someone other than the Chargers..   Chas



Since: Sep 16, 2010
Posted on: January 9, 2012 4:48 pm
 

Chargers won't bolt on stadium lease in 2012

Spanos will put his $$$ where his mouth is...Yes, he is saving millions by retaining Norv and Aj.  But I also believe him when he says that he wants to stay in SD.  I think that is a decent stadium site and plan is "in the works," and that Spanos will help finance it in order to remain in San Diego.



Since: Dec 19, 2007
Posted on: January 9, 2012 2:37 pm
 

Chargers won't bolt on stadium lease in 2012

What choice did the Chargers have?  No decent temporary stadium in LA.  But once the construction of a new stadium begins in LA - the Bolts will bolt - no reason to stay.  They can not let another AFC team into the LA market.  The loss of value of their franchise from not moving is too compelling.



Since: Sep 18, 2006
Posted on: January 9, 2012 2:18 pm
 

Chargers won't bolt on stadium lease in 2012

Keep Norv and Smith and staying in the same stadium saves the Chargers millions. It doesn't help them win but it does save them money.  


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