Grand jury: Qualcomm Stadium loses $17M a year
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SAN DIEGO (AP)
A report by the county grand jury says the city of San Diego loses about $17 million per year renting the city-owned Qualcomm Stadium to the Chargers.
The grand jury report released Wednesday says that not including other income from non-Chargers events, the stadium is ``a losing proposition.''
The city collects $2.5 million per season in rent from the Chargers, plus 10 percent of postseason ticket sales. The team keeps revenue from sky boxes, advertising and parking.
The report says the city needs to resolve the $52 million in outstanding debt from the renovation of Qualcomm Stadium in 1997.
The grand jury recommended that the city negotiate better terms for the new public-financed stadium that the Chargers want to build.
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