National Football League

Reports: San Diego, Chargers set date for potential last-ditch meeting

Published May. 27, 2015 1:52 a.m. ET

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If the city of San Diego is going to convince the Chargers to stay put and not move to Los Angeles, it reportedly has about a week left to build its case.

According to multiple reports citing team sources, the club and San Diego officials will begin face-to-face discussions over a new stadium in the city Tuesday, June 2.

It will be the first time the sides have met in person since the city finally unveiled its financing plans for a new stadium on May 18. But if anything, those plans — and the Chargers’ initial response — indicate the urgency and anxiety felt by those wanting the Chargers to stay in San Diego, not optimism.

The Chargers want a stadium downtown, but the advisory group which developed the financing plan instead proposed the new stadium be built in Mission Valley, where Qualcomm Stadium currently stands.

In addition, the group’s plan called for the Chargers to contribute $300 million toward the $1.33 billion stadium while not raising taxes or adding to the city’s general fund.

Then there’s the whole Los Angeles deal.

Also on May 18, the Chargers teamed with the AFC West-rival Oakland Raiders in hiring former San Francisco 49ers general manager Carmen Policy to spearhead the next stages in the clubs' push to build a joint $1.7 billion stadium in the Los Angeles area.

The following day, the Chargers and Raiders closed on the land deal for the proposed stadium in Carson, Calif., an L.A. suburb.

Other suggested funding sources include the Chargers paying rent of $173 million over 30 years, ticket surcharges totaling $84.7 million — or $5 a ticket — and $225 million from the sale of 75 acres of land at the Qualcomm Stadium site.

The financing plan cited comments from the Chargers from 2014 that the Spanos family and investment partners would put up roughly $400 million and seek a $200 million loan from the NFL.

Half of the PSLs would help fund the public's share of the stadium while the other half would help the Chargers fund their share.

The advisory group estimates the team could make $135 million to $165 million in naming rights over 20 years, plus other revenue totaling $25 million a year.

The advisory group recommended that a joint powers authority be formed between the county and city to oversee development and ownership of the stadium.

It also said the city and county should seek long-term leases with San Diego State and the group that puts on the Holiday and Poinsettia bowls. It suggests annual rent of $1.25 million each from SDSU and the bowl group.

Other recommendations include:

● The city and county should request an opportunity to present the financing plan to the Committee on Los Angeles Opportunities, and NFL executive Eric Grubman, well in advance of the NFL owners meeting in October.

● Negotiations with the team should begin immediately.

● Following the negotiations, the Chargers should launch and fund a citizens' initiative, like the team did this year in Carson, with the goal of gathering enough verified signatures and securing a City Council vote prior to the NFL owners meeting.

The advisory group said the city's contribution could come from money saved by retiring the remaining debt service of $52 million before a new stadium opens.

-- The Associated Press contributed to this report.

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