Raiders, Chargers reportedly close on land deal in Los Angeles

LOS ANGELES (KRON) — The Oakland Raiders have reportedly closed a joint deal with the San Diego Chargers to purchase the land of the potential stadium site in Los Angeles.

The deal was reported Tuesday morning, a day after the teams hired ex San Francisco 49ers President Carmen Policy to help their push to move to Los Angeles.

READ: Raiders owner Mark Davis still considers Oakland top option

The transaction involving about 170 acres of land in Carson, a city of 93,000 people, could provide the footprint for the proposed $1.7 billion venue. The teams are planning a shared stadium if both fail to secure new stadiums in their current hometowns.

While the move puts both teams on track to secure a move to Los Angeles, it may still only be a ploy to get a better deal to build new venues in their respective cities.

Raiders owner Mark Davis told KRON that the Carson land deal is in case a deal for a new stadium in Oakland can’t be worked out.

The news also comes less than a day after details of a new Chargers stadium proposal were released. The 42-page financing plan says that the new $1.1 billion Chargers stadium could be funded by multiple revenue sources including $200 million from the NFL, $300 million from the Chargers and $173 million in bonds secured by future rent from the team.

Some are speculating that Tuesday’s deal could be a move by the Chargers to get the city to pay more to keep the team in San Diego. The deal may also be an attempt by both teams to stop the threat of the St. Louis Rams from moving into Southern California, the nation’s second-largest media market.

Rams owner Stan Kroenke has partnered with a development group that is planning to build a $2 billion, 80,000-seat stadium in the city of Inglewood near downtown Los Angeles. The Kroenke plan envisions a stadium rising on the site of the former Hollywood Park horse track, as part of a sprawling development of homes, parks and office space.

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