As the Chargers continue to shift from a new stadium plan with no public financing to a project entailing some, a stadium finance expert told the powers-that-be in San Diego that, based on stadiums in other cities, “some” means “more than half.”
According to Matthew T. Hall of the San Diego Union-Tribune, Mitchell Ziets studied eleven construction and renovation projects, and he concluded that 54 percent of the funding came from public sources.
So, in other words, taxpayers would have to pony up $400 million of the $700 to $800 million that the teams estimated will be needed to build a new stadium in downtown San Diego.
Still, a recent trend has developed toward private money, especially since the recent economic struggles have hit public bodies hard.
The Chargers have decided to stay up at Qualcomm Stadium for 2010; an exit would have cost $53 million. In two years, they can leave for a payment of only $26 million.