Dive Brief:
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After successfully negotiating cost-based incentives and other concessions with the San Diego Chargers, San Diego Mayor Kevin Faulconer has come out in support of the November ballot measure that would clear the way for construction of the team's proposed $1.8 billion stadium and convention center, according to The San Diego Union-Tribune.
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The Chargers agreed to pay for any construction cost overruns, keep their hands off the city's general fund and to maintain the current tourism marketing budget.
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Ballot Measure C would raise the city's hotel tax by 4% — from 12.5% to 16.5% — to help fund the Chargers' new complex.
Dive Insight:
The mayor's support marks the end of a public spat with the Chargers that began when the team tried to win approval from the NFL to move to Los Angeles, according to the Union-Tribune. Prior to that, the team had been in negotiations with Faulconer for a new San Diego stadium. Under the terms of the ballot measure, the Chargers must meet a list of financial and planning conditions or the project will not move forward.
NFL owners approved the Chargers' bid to move to Los Angeles earlier this year, and the team has until January to let the league know if they will do so. This allows the team time to negotiate a new stadium deal in San Diego, which is dependent on the hotel-tax increase passing next month. If the Chargers decide to move to Los Angeles, they would share the new $3 billion Rams stadium.
