The Raiders Las Vegas gain, just became the city of San Diego’s loss!
According to ESPN’s Jim Trotter — the San Diego Chargers are expected to exercise the team’s option to move to Los Angeles in 2017.
During the NFL owners meetings in January, in which the league approved the relocation of the Rams to Los Angeles, the Chargers were granted the option to relocate to L.A. with a deadline of Jan. 15, 2017.
Chargers chairman Dean Spanos has to alert the league that he intends to exercise that option by next month’s deadline.
The Chargers received only 43 percent approval on Measure C in November. The team’s $1.8 billion plan proposed raising hotel taxes from 12.5 percent to 16.5 percent to secure $1.15 billion in bonds to help pay for the stadium project.
The citizens’ ballot initiative required two-thirds of the voting public within city limits to approve the project, an extremely high bar for the team to reach.
All isn’t bad for the organization — the Chargers have a tenant-lease agreement with Rams owner Stan Kroenke that on the new $2.6 billion stadium project.
After paying $650 in relocation fees — the Chargers would share the Rams’ new stadium when it is complete and share stadium revenue, but conduct ticket sales separately.
