New Chargers stadium would cost over $1 billion

SAN DIEGO (KUSI) – The cost of a new professional football stadium in San Diego will likely cost one-billion-dollars, according to a new study from National University.

The cost for a new stadium could be higher, or it could be lower, but it all depends on how much the taxpayers are willing to contribute, and what the Chargers are willing to accept.

The university’s Think Tank looked at stadium construction over the last 20 years, and it showed the average cost of a modern stadium is under $900 million, but building a stadium in San Diego would cost $1.5 billion.

Building a stadium like the ones in Minneapolis or Atlanta would cost $1.5, and the Stadium Advisory Group said they would not do that.

“Atlanta is extending a tax increase to finance that stadium. Now, the stadium advisory group has said that’s not in the cards, and so we’re probably not going to be able to do something like that,” said Eric Bruvold.

The Advisory Group said it is looking at a stadium more appropriate to San Diego.

“Now the issue is going to be will the Chargers be happy with that? One of the things that’s driving this is this desire to maximize revenues inside the stadium,” said Bruvold.

On Good Morning San Diego, Erik Bruvold said his study suggested that a low-end stadium would not generate the revenues the team would need to be competitive with other teams.

The team would become problematic.

The study gave a range or options from $725 million to $1.7 billion.

“I think we’ll look at a billion dollar stadium in the end when everything is said and done. Get a river park. I think and some parking, we’ll definitely get development around or on the Qualcomm site. They’ll be reduced tail gating but a revenue stream generated off of some of the land the parking lot sits in,” said Bruvold.

A low-end stadium would mean restricted parking, no river park, and a lot less infrastructure improvements.

“We might have to go to that extent if what our goal is and that’s what some of the people have talked about if our goal is not only to attract, to keep the Chargers here, to attract multiple Super Bowls, to attract final fours, to attract political conventions: We may be looking at a structure that is significantly expensive,” said Bruvold.

History, however, has shown that revenue projections, and forecasts are often overstated, and costs understated.

“Then the questions gonna be ok, if the assumptions don’t pan out, and they’re made by people who have all the good faith in the world but stuff happens and if it does who assumes the risk. Is it the taxpayers? Is it the chargers? Is it both and how will that work itself out,” said Bruvold.

The study focused on the cost of building a new stadium, but another study is being conducted.

“The reason that we wanted to do this study was sort of as a precursor to the next one. What’s the number that we’re shooting at and what are the pots of money that we have available in the regions to raise a public contribution to the stadium,” said Bruvold.

The city is working to come up with a financing plan that will keep the chargers in San Diego. The NFL still needs to decide if any of the three teams preparing to move will end up in Los Angeles next year.