Chargers' Fabiani Admits in Article That San Diego Is Bankrupt or Heading in That Direction
A quintessential establishment member, Mark Fabiani, Chargers counsel, admits in the Jan. 12 issue of Sports Business Journal that "Government at all levels [including the city of San Diego] is either bankrupt or going bankrupt." Up to now, it has only been people outside the San Diego mainstream that have recognized the obvious. Fabiani says that the team is two to three years away from getting financing for a new stadium. "By the time we get to the financing, though, hopefully [the City's financial quagmire] will return to normal." The article states that "The San Diego Chargers, San Francisco 49ers, Oakland A's, Oakland Raiders and Sacramento Kings (all of whom want new subsidized facilities) are fully aware of their state's financial difficulties, but it hasn't stopped them from continuing to seek new facilities and work with their local communities to develop those projects." California has a staggering $11 billion budget deficit. Gov. Schwarzenegger has told the federal government that if the state doesn't get a bailout, the California will go under in March. Fabiani continues to state that the Chargers want to find a stadium resolution somewhere in metro San Diego.
More like this:
- Fabiani goes to work for casino billionaire — Dec. 24, 2015
- New Calif. redevelopment law could stop Chargers stadium — Aug. 17, 2011
- San Diego Discussing Ways to Pump Public Money into Chargers — Dec. 8, 2009
- Fabiani Quote Suggests Chargers L.A. Move May Be Done Deal — Oct. 23, 2009
- San Diego Is Chargers' Problem — Aug. 6, 2008