SBD/25/Facilities Venues

DELOITTE & TOUCHE SHOWS CITY TO LOSE OUT ON CHARGERS DEAL

          A Deloitte & Touche study commissioned by the city of
     San Diego predicts that the city will lose more than $1M in
     rent receipts for Qualcomm Stadium every season through 2006
     "because of a ticket guarantee it signed with the Chargers,"
     according to Ronald Powell of the SAN DIEGO UNION-TRIBUNE. 
     Estimates have ticket sales to Chargers games through 2020
     averaging 56,000 per game.  Under the agreement, the city
     must pay the team for any unsold general-admission seats
     below an average of 60,000, with the payment in the form of
     rent reduction.  Last year, the first of the deal, the team
     had a rent reduction of $1.3M.  City Manager Michael
     Uberuaga said he "hopes the Chargers have a successful
     season," because in that event "general-admission ticket
     sales should reach the 60,000-seat level."  Short of that,
     "he would be willing to ask the Chargers, Qualcomm or others
     to help pay for unsold tickets."  Last season, the Chargers
     and Qualcomm bought "nearly" 40,000 unsold seats, saving the
     city another $1.6M (SAN DIEGO UNION-TRIBUNE, 3/24).

Return to top
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug