04-14-2009, 01:01 PM
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#1 (permalink)
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Year Of The Basel
Join Date: Sep 2008
Posts: 7,151
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City of Industry wants an NFL team for its proposed stadium, and it could be Chargers
Quote:
The process offers a stark contrast to the Chargers' search for a new stadium in San Diego County, a seven-year quest that has yet to result in a site.
The City of Industry project, which would be built by Roski-owned Majestic Realty, was unanimously approved by the city council in February.
While there are complaints from neighboring communities, nothing is expected to stop a project backed by Majestic's virtually unlimited resources.
Majestic Realty ---- which says it does not grant interview requests to reporters covering a team possibly looking to relocate ---- could complete the complex by 2012, but won't break ground without a tenant.
"(Roski) clearly has a very interesting project," Chargers general counsel Mark Fabiani said. "He's clearly made a lot of progress on it, but the bottom line is that he still needs a team. No one anywhere is going to build a stadium without a team. I don't know that he's any closer to getting one than he was when he started."
While the Minnesota Vikings, Oakland Raiders, Buffalo Bills and Jacksonville Jaguars all have been linked to Los Angeles ---- a market that the NFL wants to reclaim ---- the Chargers could also be a viable candidate should their local stadium search turn sour. The team can exercise an escape clause in its Qualcomm Stadium lease beginning on Feb. 1 of each year starting in 2009, with a buyout that decreases annually. The current $56 million buyout is pricey, but the payment decreases to an relatively affordable $26 million in 2011.
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http://www.nctimes.com/articles/2009...940065e857.txt |
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City of Industry wants an NFL team for its proposed stadium, and it could be Chargers
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