January 26 – San Diego, which is pitching for a franchise in the expanding MLS, could be getting a 20-30,000 capacity new stadium costing $200 million as part of $1 billion redevelopment of the Qualcomm Stadium property.
The new stadium would likely be shared by the new MLS team and the San Diego State University’s Aztecs (American) football team. The projected opening date of the new stadium, if given the go-ahead, is 2020.
The stadium development plan is being lead by the FS Investors group who are in exclusive negotiation with the MLS about a new franchise in San Diego. They are expected to file a formal application for a franchise to the MLS by the end of the this month.
San Diego is a strong football market, recording the second highest viewing figures in the US for the 2014 World Cup after Washington DC. This weekend the US Men’s national team play Serbia at Qualcomm Stadium.
Nick Stone, a partner in FS Investor, said: “We think San Diego is an amazing soccer market. We just think the logic of soccer in San Diego is incredibly compelling.”
Stone said FS Investors would be looking to have full control of the site and that it would be developed to serve as a sports and entertainment district.
“Part of the reason why we think this creates a ‘win’ for the city,” Stone said, “is because we are not only delivering the river park but we are relieving the city of the maintenance of Qualcomm, committing to condemnation (of the stadium) and creating a massive tax base.”
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