State of the Stadium, Part 4 - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

State of the Stadium, Part 4

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SAN DIEGO, Calif. (CBS 8) - Proponents of the new Chargers stadium remain cautiously optimistic after a city council vote this week. However, the project remains very much in limbo.

For eight years, San Diego and the Chargers have been working on the feasibility of a new stadium. Sites in Mission Valley, National City, Chula Vista, Oceanside, Escondido and downtown have been explored. Special Council to the president of the Chargers Mark Fabiani knows where the team wants to call home.

"We don't want to move. We want to be here," Fabiani said. "Although it's been frustrating, it's a great place to be and we'd love to find a way to stay here."

The latest proposal for a new stadium encompasses building a multi-purpose sports facility in downtown, freeing up 166 acres the city owns in Mission Valley and another 100 acres around the current Sports Arena site.

The players in the funding downtown would be the Chargers. We'll put several hundred millions of dollars into the project, the NFL -- we hope to get a loan from the NFL for $100 million. Then there would be a combination of revenue from the Qualcomm site, we hope, revenue from the Sports Arena site, perhaps.

"It only works if you get people to understand -- and this is a hard thing to explain --- that they're losing money every year at the Qualcomm site."

"People don't understand every year $17 million goes out of the city budget and into Qualcomm Stadium," Fabiani said.

On Tuesday, the city council voted to explore lifting the spending cap for the Centre City Development Corporation. Without raising that spending cap, the chances for a downtown stadium decrease dramatically, which may leave Escondido as the only viable alternative. And if you think that eventually there will be a dramatic, last-minute solution to the stadium issue, think again.

"One thing is for sure, nothing happens in the midnight hour in San Diego, because the political leadership has always said, 'This must go to a vote,'" Fabiani said.

Recent history has shown us cities like Houston, Baltimore and Cleveland, who lost NFL franchises, ended up spending much more money to get a new team, which reminds me of an axiom a friend used to say about divorce, "It's cheaper to keep her."

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