Citigroup, New York Law Firm to Help San Diego with Stadium

Share This Article:
Qualcomm Stadium in Mission Valley, the current home of the Chargers. Photo by Chris Stone

San Diego announced Monday the hiring of investment banker Citigroup and New York law firm Nixon Peabody to develop financing options for a potential new stadium for the Chargers.

Support Times of San Diego's growth
with a small monthly contribution

Both firms have extensive experience with professional sports facilities throughout the country, including several NFL stadiums.

“The hiring of nationally recognized experts is another positive step toward creating a real and responsible stadium plan. These experts in finance and negotiation will help make sure taxpayers get a fair deal,” said Mayor Kevin Faulconer.

“They have a proven track record of getting NFL stadiums done and will ensure that the financing plan we put together in San Diego is rock solid. We’re making progress toward a real solution that can garner broad public support.”

Citigroup’s recent projects include the new Atlanta Falcons stadium, MetLife Stadium (New York Giants/Jets), Citi Field (New York Mets) and the Amway Center (Orlando Magic). Each of the New York projects included stadium revenue pledges — including naming rights, premium seating, advertising and sponsorships — that are under consideration in San Diego.

Nixon Peabody has provided advice on more than 25 professional sports facilities, including 12 NFL stadiums.

“I’m delighted with the choice of Nixon Peabody and Citigroup,” said County Supervisor Ron Roberts. “The partnership brings the creativity, tenacity, insight and financial knowledge necessary to guide us in the preparation of a reasonable stadium funding proposal.”

Widgets Magazine

Earlier this month, the City Council and the County Board of Supervisors each unanimously approved a partnership between the city and county to work collaboratively and share consultant costs for a potential new stadium for the Chargers.

The city and county will each pay half the costs for the retention of consultants, attorneys and other experts in stadium financing and development matters. Under the agreement, the city and the county will each contribute a total of no more than $250,000.

The Chargers and Oakland Raiders are also considering a plan to build a join-use stadium in Carson near Los Angeles.

Follow Us: