On Friday, January 29, 2016, the San Diego Chargers made two important announcements: (1) the franchise reached an agreement in principle with the now “Los Angeles Rams” to share the Inglewood stadium project, creating a route for a Los Angeles move; and (2) the franchise will be staying in San Diego for the 2016, committing to a possible solution for a stadium that keeps the team in San Diego long-term.
Last year, Rams owner Stan Kroenke purchased a 60-acre tract of land in Inglewood, an L.A. suburb. Although not large enough on its own, the land is adjacent to a 238-acre site owned by Stockbridge Capital Group. Stockbridge already has approved plans to build a mixed used community called Hollywood Park. According to reports, those plans may be amended to include a sports and entertainment complex, and the Inglewood City Counsel already approved a stadium project.
In mid-January 2016, the NFL approved a plan to relocate the St. Louis Rams to Los Angeles and allow them to pursue the Inglewood stadium project. The Chargers were given the option to share the Inglewood stadium with the Rams and have until 2017 to execute the option. If the Chargers fail to execute the option, the Oakland Raiders will have the option to join the Rams. The NFL has reported that the Chargers and Raiders are eligible to receive $100 million in NFL support to use toward a new stadium in their respective cities if either decides not to move to Inglewood.