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How San Diego's Taxpayer Won by Letting the Chargers Bolt

  • Moody’s: voters’ rejection of new stadium credit positive
  • Largest city-owned site could be redeveloped in better deal
Photographer: Donald Miralle/Getty Images

The departure of a professional football team from San Diego means the city may not need to pay out $11.7 million annually from its general fund on the stadium for much longer.

The National Football League’s Chargers are decamping for a new Los Angeles area stadium after voters in November rejected a measure that would have pledged $1.1 billion in public backing for a new arena. Not only did residents dodge a debt burden, they now have a chance to see redevelopment of the city’s largest piece of real estate available. One proposal would bring a soccer franchise without public subsidies.