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Chargers Offer to Pay Toward Stadium



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SAN DIEGO, Jan 15, 2003 (AP Online via COMTEX) -- The San Diego Chargers are
offering to pay for half of a $400 million stadium they want built to replace
36-year-old Qualcomm Stadium.

Under a proposal that the team will present Thursday night, the public's
contribution of $200 million would be paid off in part by taxes generated by a
mixed-use "urban village" that would include housing, shops, restaurants and a
hotel on approximately 70 acres of the 166-acre Qualcomm site.

"We decided that simply proposing a new football stadium was not sufficient to
win public support, nor would we consider asking the city for money from the
general fund, particularly at a time of serious budget shortfalls," said
attorney Mark Fabiani, who's leading the Chargers' efforts to get a new stadium.

Fabiani will present the Chargers' proposal to a citizens task force on Thursday
night. The task force will present its recommendation on the Chargers' future to
the City Council, probably by late February.

Attorney Mike Aguirre, a frequent critic of the Chargers' lease with the city,
questioned the team's proposal for the public portion of the project.

"Where it comes from doesn't change the character of the money. It's still
public funds," Aguirre said. "The idea that it's going to come from some kind of
magic development and all that, that's all what-if's and speculative.

"It sounds to me that the Chargers have been sandbagging the city. They didn't
need to wait until Jan. 16 to say, 'We'll pay $200 million and razzle-dazzle you
with where the rest of the money will come from."'

Fabiani said the Chargers believe the city could make $100 million from selling
the land to be developed, with the rest of its commitment coming from a bond
sale that would be paid off by property taxes, sales taxes and hotel occupancy
taxes. Once the stadium is paid off, the city would continue to make money off
those taxes, which it doesn't currently get from the site, he said.

Fabiani said there's the possibility of a $50 million loan from the NFL, which
would reduce the Chargers' commitment to $150 million.

The Chargers propose that the urban village be developed by the city.

"We simply want to be tenants in a stadium that allows us to be financially
competitive," Fabiani said. "Whether the city has another idea, we'll listen."

The proposed stadium would seat 64,000, but would be expandable to 72,000 to
accommodate future Super Bowls that the Chargers hope to attract. This year's
Super Bowl will be played at 70,000-seat Qualcomm, which the NFL says has fallen
below standards in several areas.

A new stadium would be built next to Qualcomm, which would then be torn down.

Other details will be released Thursday night.

Qualcomm Stadium is surrounded by approximately 17,000 parking spaces.

"You don't have to be a genius to realize this is a badly underutilized site,"
Fabiani said. "When the Padres leave, it will be the world's largest parking lot
and a stadium that will be empty for about 355 days a year."

The Padres are scheduled to move into a downtown ballpark in April 2004.

Aguirre said he wants the Chargers to explain why the city should spend $200
million more when it's already paying off a $78 million stadium expansion in
1997 that was part of a deal to extend the Chargers' lease through 2020 and
attract future Super Bowls. Plus, the city has already paid the Chargers some
$31 million as part of a controversial ticket guarantee.

Fabiani said the team's proposal is intended "to open a very public planning
process."

"Obviously the reaction to it will be of great interest to us. Beyond that, it
will give the city a notion of what's possible, then the city has to decide if
it wants to move ahead or not."

The Chargers would like to have a stadium issue on the November 2004 ballot.


By BERNIE WILSON
AP Sports Writer

Copyright 2003 Associated Press, All rights reserved

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APO Priority=r
APO Category=2020

KEYWORD: SAN DIEGO
SUBJECT CODE: 2020

(Wall Street)





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