On Tuesday, the city and county negotiators will meet with Eric Grubman, the NFL’s vice president, and Chargers Special Counsel Mark Fabiani.
At some point, Grubman is going to ask them how they plan on financing a new stadium.
“We will ask them for the financial assumptions that the plan is based on,” Grubman told me.
I would love to hear their response.
We aren’t getting anywhere with our questions. It’s not clear whether the mayor and company are keeping a plan in a secret binder or if they just don’t have a plan at all.
In the Union-Tribune last week, I thought we had a breakthrough when I saw this line in a story comparing San Diego’s effort to keep its NFL team to St. Louis’ push:
Help Us Raise $100k By the End of May
At some point, the city is going to have to show the actual financing plan they have to build a new stadium. It should be very interesting reading.
This is why I call this town Enron-By-The-Sea.
What a bunch of crooks and liars, led by that stupid, crooked flunky, Jerry Sanders, Jr., aka Kevin Faulconer.
San Diego, you get the politicians you deserve.
Kevin Faulconer should take a cue from Boston's mayor and just say no, period. Marty Walsh wanted those Olympics, too, but he could read the poll numbers and realized that he'd never see a second term if he tried to push the Olympic deal.
@Allen Carter Poll numbers and second terms shouldn't be of any importance when it comes to making a decision like this. Similarly, economic impacts of a stadium should not be considered because most, if not all, independent studies show that at best, the economic impact of football stadiums is minimal. The only issue that is relevant is whether public monies to build a stadium, whether it be from the general fund, hotel taxes, or sales of city property, should be used.
The mayor will be fine in the next election since no one wants to run against him. Whether the stadium is funded by the public will have no bearing on that. While I wish that Mayor Faulconer would put an end to this folly of expedited EIRs and apparent willingness to use public funds, whatever decision he does make will be irrelevant as he runs for re-election.
Petition to stop spending City of San Diego public funds for new football stadium.
Just once I wish someone would have the balls to look right back at the NFL and ask them how they are going to finance this stadium! They are the ones who stand to profit the most, so they should be the ones answering the questions. Don't get me wrong, I love watching NFL games and like having a franchise here in SD, but this is not a public entity, so either we offer them some tax incentives to build here and the take them or don't let the door hit you in the butt as you leave town and go play on top of the former dump in Carson and see if you can make as much money there!
For years, the city and county leaders have wrung their hands and shook their heads at many requests for general fund money, or any money at all, to invest in the infrastructure and services that are government's responsibility to provide. The answer to these requests has been "We would like to fund them, but we don't have the money." But their answer is drastically different when the request involves an investment that is NOT government's responsibility to provide -- a stadium -- in fact, ANOTHER stadium -- for the purpose of rendering someone's private investment even more profitable. Shame!
How many times do the San Diego taxpayers need to say "not with my tax dollars"? Raiding the General Fund to pay for a sports stadium that most San Diegians don't want is not cool. We have far too many things we need to spend our money on (crumbling infrastructure, water management, etc). It's time that city officials STOP supporting this giveaway.
So basically: Smoke and mirrors, meet bread and circus.
Which news gathering organization will file the public records act request for a look at the "proposal" being offered to the NFL Tuesday?
Good article Scott (and not just for the hat tip). The biggest issue unexplored is how in the heck we can bond against the revenue from the principal tenant (the chargers), the major secondary tenants (SDSU and College bowl games) and have the resources required (10 million? 15?) to operate and maintain the facility.
@Erik Bruvold Simple, you put the annual rent for the local NFL team to $30 Mil. and at 5% bond financing you get $600 Mil. of bond proceeds. The 49ers pay annual rent of $24 Mil. for 40 years (to make the numbers pencil out).
Which means no-show for the St.Pepper's Lonely NFL hearts club band and its miserable local chapter of the Spanos Talibans touring amateurs: