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Could minority sale of Chargers mean L.A. move?

Posted on: November 16, 2010 9:05 pm
 
Posted by Will Brinson

The NFL returning to Los Angeles seems almost as foregone a conclusion as an 18-game schedule (although at least the latter is up for negotiation). To speed up the process, though, there would probably need to be some instability in ownership, which, apparently might be coming to San Diego.

According to Jon Weinbach of FanHouse, Chargers owner Alex Spanos is in poor health and his family has hired Goldman Sachs to sell a minority share of the team.

Each of his kids own 15 percent of the Chargers, while Spanos and his wife own 36 percent -- the section up for grabs is purportedly (according to what Mark Fabiani, the leader in trying to secure the Bolts a new stadium) only for "estate-planning purposes."

However, Weinbach reports that reps from Goldman have "recently met with several wealthy individuals" in Los Angeles about the minority stake up for sale.

Of course, if people with vested interest in the L.A. community suddenly owned part of a football team in San Diego, things could get a little spicy, especially since the Chargers can, ahem, bolt from their deal with Qualcomm Stadium via a buyout with the city of San Diego that's available, according to Weinbach, once a year.

These rumors stem from the recent Anschutz Entertainment Group plan to build a $725 million stadium near Staples Center and L.A. Live, a thriving entertainment section in downtown Los Angeles.

Someone from San Diego can certainly buy the stake, but it would take a pretty wealthy individual with a vested interest in helping the community, making some money and NFL football. So, I'm gonna lob someone out that could help keep the Chargers in place: Phil Mickelson.

The multiple Masters winner is a huge NFL fan, he's from San Diego, he has plenty of money and he's shown an affinity for smart business investments (see him owning all the Southern California franchise rights to Five Guys).

That's absolute conjecture (although I'm more than willing to play a round with Phil and discuss the matter, if he's free) but the point still remains -- while people around the Chargers will say that they don't have to get a non-L.A. investor to buy the minority share, it would certainly help keep the team in place.

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Comments

Since: Dec 2, 2011
Posted on: January 30, 2012 7:25 am
 

Could minority sale of Chargers mean L.A. move?

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Since: Dec 2, 2011
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Could minority sale of Chargers mean L.A. move?

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Could minority sale of Chargers mean L.A. move?

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Could minority sale of Chargers mean L.A. move?

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Could minority sale of Chargers mean L.A. move?

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Since: Apr 28, 2008
Posted on: November 17, 2010 10:20 am
 

Could minority sale of Chargers mean L.A. move?

First: What's the status of the stadium proposal that has gone through years of preparation in Industry? I understand the ownership principal behind that has been working on that so thoroughly that they are willing to foot the bill for freeway improvements, an off ramp, and even to legally bribe locally impacted businesses in the surrounding areas.
Second: That artist's rendition (usually the best, most attractive possible outcome) looks absolutely horrendous! It looks like 70% of the seats will be in the end zone. Then, the ones that are along the field of play seem to slope so far back as to put people like nine miles away from the action. And it just so happens that those are the exact complaints of the existing stadiums (LA Coliseum and Rose Bowl). People with advanced college degrees get paid tons of money to create those renditions. It looks totally unappealing.
Third: "in an area near the Forum...." Exactly where? There is no open space within 10 miles. Hollywood Park is close by, and it is scheduled to be demolished, but I understood it is to be converted to something totally different. Re-zoning, planning and impact studies take for-freakin'-ever to complete. I'm skeptical that this could happen within 5 years. By then, all new things will have happened in the NFL and economy in general.



Since: Oct 29, 2010
Posted on: November 16, 2010 11:51 pm
 

Could minority sale of Chargers mean L.A. move?

LA is only half the real story. If LA really wants the chargers than theyll still have to fight San Diego City Hall for them. San Diego and afew other incorporated cities within SD county are all putting together plans to build a new stadium. Originally the plans were scoffed at until earlier this decade, the NFL itself told the city that they wouldnt host another SuperBowl until they built a new football stadium. The chargers jumped on this afew years later after they started their AFC West dominance. Despite this intriging story about partial ownership and a move to LA, I think this is a ploy by the Spanos family to speed up the process of getting a new home in San Diego County



Since: Apr 28, 2008
Posted on: November 16, 2010 9:23 pm
 

Could minority sale of Chargers mean L.A. move?

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