LesBaker
Mr. Savant
- Joined
- Aug 23, 2012
- Messages
- 17,460
- Name
- Les
Uh Huh and the Chargers still owe the NFL $365M for relocation fee and they owe Stan a lot more than that.
Yeah dumb because the last I heard 100% of the revenue from football operations is better than 15%. It's going to cost him hundreds of millions to the NFL and to Kroenke. They can't even sell PSL's which means their seats will go to bulk buyers and sold to opposition fans. Kind of hard to estimate what you will get in terms of sales, 30-50? Heck they can't even fill the soccer stadium even with all the opposition fans. They never sold less than 50K in tickets even when they were 1-15. Their average was 65K per game with most being sellouts of 70K+. The value of the franchise would have increased close to or as much as it has in LA without the debt.
Without a fan base no team is viable over the long term. Dean Spanos may not want to sell the team but he might not have a choice. This is the price the NFL is paying for ignoring LA and allowing a generation of fans to grow up without a hometown team.
Technically they don't have to "pay". Checks don't get cut. The money is taken out in 10 payments from shared revenue the Charger receive from the NFL. Also the relocation fee was over 600MIL.
So when you add in the revenue from the NFL and the revenue from a stadium he supports with a one dollar a year investment Spanos will be making more money than he did in SD.
He's investing about none of his own money and getting 15% for it.
How would he get 100% in SD if the stadium is publicly funded? Just curious.
But Spanos has told associates that he cut a better financial deal with Kroenke than most had initially given him credit for -- and he insists privately that he really doesn't mind being a tenant. The Los Angeles Chargers are here to stay, whether the city's fans want them or not.
That says it all.