“NFL-It’s Always About the Money”
The NFL gets richer and its franchises keep adding value. A way of life in pro football thanks for their TV contracts.
The Chargers, Rams and Raiders, were all formally updated from the leagu eoffice about the price tag to move into a new market.
It is costing the Chargers and Rams (645M) each to move into Los Angeles. The payments will be spread out over an 11-year period.
It will cost the Raiders (378M) to leave Oakland, heading to Las Vegas, again with payments spread out over the next decade.
Each NFL will get a big check thanks to the relocation. 30-clubs will each get 55M as their share of the Chargers-Rams transfers.
The Raiders move gives the other 31-teams an additional payday of just over (12M)
Meanwhile the decision by Team Spanos to play home games in the Stub Hub Center at Carson, will cost them additional money.
Because of weather delays in Inglewood, the Chargers will spend 3-full seasons in the 30,000-seat soccer stadium.
NFL sources say that move means the Chargers will likely see gross revenue from their 10-home games drop by 33M per year over the next 3-seasons. That’s 99M less in total income over the next three seasons, compared to had they stayed in San Diego.
Sources say the Chargers will not get all the parkingconcession revenues either….both of those money slots going to Carson for the rental.
In addition, averaging 30,000 per home game, rather than the accustomed 65,000-they would normally get at Qualcomm Stadium, means another big dropoff in revenue weekly.
The Chargers also had to write a check of 12M as the payoff of their Stadium-Chargers Park lease also.
And Spanos reportedly burned thru (15M) over the last group of years, trying to design a new stadium and for the failed ballot measure on the downtown stadium.
Of course the move of the team was all about driving the value of the franchise up, once they move into a new stadium in 2020.
Anybody want to bet by 2020, Team Spanos will have put the franchise up for sale and will exit the NFL? Why?
Oh by the way, anybody ever-ever believe the words of Roger Goodell, or influential owners like Bob Kraft-Bob McNail-Jerry Jones, when they keep mentioning words “we care about the home markets”? The home markets, the ones who lost their franchises in the middle of the night.
Because the NFL is always about the money, even for owners who are losers.
The Spanos family had only 12-winning seasons in 33-years in San Diego…but they will get a big payday going away.
Ain’t America great?