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Chargers & Rams Reach Agreement On Los Angeles Deal, Will Play In San Diego For 2016 Season

Update:

Chargers owner Dean Spanos announced that the team will remain in San Diego for the 2016 season in the hope of securing a long-term stadium team in their current market.

Here’s the letter from Spanos:

Dear Chargers Fans,
 
Today I decided our team will stay in San Diego for the 2016 season and I hope for the long term in a new stadium.
 
I have met with Mayor Faulconer and Supervisor Roberts and I look forward to working closely with them and the business community to resolve our stadium dilemma. We have an option and an agreement with the Los Angeles Rams to go to Inglewood in the next year, but my focus is on San Diego.  
 
This has been our home for 55 years, and I want to keep the team here and provide the world-class stadium experience you deserve. 
 
Everyone on both sides of the table in San Diego must now determine the best next steps and how to deploy the additional resources provided by the NFL.
 
I am committed to looking at this with a fresh perspective and new sense of possibility.
 
With deep appreciation for your years of support,
 
Dean A. Spanos
Chairman

Here’s the statement from Rams owner Stan Kroenke regarding the news:

We look forward to partnering with the Chargers in Inglewood, but the decision of course is Dean’s to make.

NFL commissioner Roger Goodell has also released a statement regarding the Chargers announcement that they’ll remain in San Diego for the 2016 season.

We are very supportive of the decision by Dean Spanos to continue his efforts in San Diego and work with local leaders to develop a permanent stadium solution. NFL ownership has committed $300 million to assist in the cost of building a new stadium in San Diego. I have pledged the league’s full support in helping Dean to fulfill his goal.​”

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Kevin Acee of the San Diego Union Tribune reports that the Chargers have reached an agreement in principle with the Rams that will allow the Chargers to move to Los Angeles.

Acee mentions that the question now is when or if the Chargers will make the move to Los Angeles. Sources tell Acee that it’s possible Chargers owner Dean Spanos could still try to get something done in San Diego.

According to Acee, the Chargers have until January 15 of next year to exercise their option to move, and this could be extended to 2018 if they’re able to get a stadium initiative on the ballot this year.

Jason Cole of B/R reported yesterday that even with a deal between the Rams and Chargers, Spanos could play in San Diego for the 2016 season while negotiating a stadium deal with the city of San Diego.

It would be an interestingly leverage play from the Chargers, even though it still may not be enough for the city to San Diego to offer them the kind of stadium deal they’re looking for.

Los Angeles could produce even better revenue streams for the Chargers, even though they would have to compete with the Rams in L.A.

The one aspect of this situation is whether Spanos will elect to be just a tenant or a partner in the Inglewood project. To be a partner, Spanos would reportedly need $500 million or more, according to Jason La Canfora.

The L.A. Coliseum is reportedly open to hosting multiple teams in needed, so that could be a temporary home for the Chargers and Rams.