New York investment banker Goldman Sachs will finance the Chargers\u2019 move from San Diego and also cover any losses sustained by the franchise in its first few years in Los Angeles, team special counsel Mark Fabiani confirmed on March 2. The Chargers announced a plan last month to build a $1.7 billion stadium with longtime rivals the Raiders in Carson if both teams cannot find stadium solutions within their home markets. But before a new project can be finished, the Chargers expect to be temporarily homeless, possibly playing in either the Los Angeles Memorial Coliseum or the Rose Bowl Stadium for a time, the Sports Business Journal reported. Goldman Sachs would help the team cover any renovations required on those venues. “With respect to Goldman Sachs, the investment bank has been working with the team for many years,” Fabiani said in an email. “If the team decides ultimately to relocate to Los Angeles because we cannot find a solution in San Diego, we are confident that Goldman Sachs can successfully put all of the necessary financing in place.” During the plan\u2019s announcement on Feb. 20, Tim Romer, managing director of Goldman Sachs, said the financing model will follow that of the Levi\u2019s Stadium in Santa Clara, also backed by the company. No taxes or city general funds will go toward the project; it will rely solely upon revenue the stadium generates. “We\u2019re committed to helping to get this done,” Romer said at the time. The news comes as San Diego\u2019s stadium advisory group heard from avid fans trying to keep the team local. The group held a public forum March 2, wherein hundreds stepped up to a microphone to say where they\u2019d like to see a new San Diego stadium and how they\u2019d like it funded. — NBC 7<\/p>","protected":false},"excerpt":{"rendered":"
New York investment banker Goldman Sachs will finance the Chargers\u2019 move from San Diego and also cover any losses sustained by the franchise in its first few years in Los Angeles, team special counsel Mark Fabiani confirmed on March 2. The Chargers announced a plan last month to build a $1.7 billion stadium with longtime […]<\/p>","protected":false},"author":726,"featured_media":294282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"11561","_seopress_titles_title":"Goldman Sachs to cover Chargers' losses in event of move","_seopress_titles_desc":"","_seopress_robots_index":"","jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[12360,11551,11561],"tags":[],"class_list":["post-294284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-duplicate","category-news","category-peninsula-beacon"],"_links":{"self":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts\/294284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/users\/726"}],"replies":[{"embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/comments?post=294284"}],"version-history":[{"count":0,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts\/294284\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/media\/294282"}],"wp:attachment":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/media?parent=294284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/categories?post=294284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/tags?post=294284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}