Goldman Sachs to finance Chargers possible move
It’s unclear whether the NFL will get behind the Chargers’ potential return to L.A. One of the world’s biggest investment banks has decided to do so.
According to Daniel Kaplan of SportsBusiness Journal, Goldman Sachs will finance the move, “including covering any operating losses suffered by the team in the first few years in that city as well as costs for any renovations needed in a temporary venue.”
The involvement of Goldman Sachs demonstrates the financial viability of the stadium project in Carson. It also provides the Chargers with some security if/when a move happens.
Most importantly, the development indicates that Goldman Sachs wants the move to happen. Which means that Goldman Sachs will be working aggressively and diligently to push the project to completion -- and the relocation to reality.
The Raiders and Chargers, if they can’t secure new stadiums in their current markets, hope to play in a privately-financed, $1.7-billion stadium in Carson. Rams owner Stan Kroenke hopes to build a new stadium in Inglewood. AEG, which has been involved for several years in a downtown L.A. project, could end up SOL along with Ed Roski and his shovel-ready project in the City of Industry.