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A $1.7 billion for the Chargers and Raiders may be set to be approved by the Carson, Calif. City Council

By SI Wire
April 21, 2015

A initiative petition for a new proposed $1.7 billion NFL stadium in the Los Angeles suburb of Carson makes no mention of how the stadium will be financed even though the city council is set to meet on Tuesday to discuss the project, reports the Los Angeles Times.

The Carson City Council is set to meet about the stadium on Tuesday and could decide to approve the project or schedule a public vote.

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The San Diego Chargers and Oakland Raiders are planning to share the stadium if they can’t get new facilities built in their respective cities.

The 26-page petition does not mention financing except to say that city tax dollars will not be used for the project.

The 168-acre site in Carson is a former landfill.

The city-commissioned findings, provided by consultant AECOM, found that the stadium would need two occupants in order for the city to make a profit. Although the project would bring jobs and activity to Carson, placing one team in the stadium would "generate annual fiscal losses in most of the first 30 years,” according to the report.

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St. Louis Rams owner Stan Kroenke has already gotten approval from the Inglewood City Council to build a $1.86-billion stadium across from Hollywood Park, about 10 miles from downtown Los Angeles. Those plans also include a 6,000-seat performance venue as well as retail, office, hotel and residential space next to the Hollywood Park site.

The NFL has yet to decide on either project, and no team can relocate until it is approved by two-thirds of the NFL owners.

The league will get an update on both stadium projects during a meeting with the Committee on Los Angeles Opportunities in New York on Wednesday. The meeting will also discuss a planned waterfront stadium in St. Louis, which could be built to keep the Rams in town.

- Scooby Axson

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