A new study estimating the cost of a new Chargers stadium done by the National University System Institute for Policy Research shows a number of things:
1) Tampa Bay got off cheap.
2) And we won't.
Tampa Bay built its stadium in 1998 for a measly $333 million.
This study says the new San Diego stadium would cost at least $725 million, but likely in the $1 billion range.
That's not exactly news. Stadiums are expensive. But the National University System Institute for Police Research crunched numbers to give us a better idea of its costs.
It looked at 20 stadiums built since 1997. The average cost was $618 million. The median, $452 million. If inflation and Southern California construction costs are factored in, the average rises to nearly $900 million, the median $662 million.
Additionally, two stadiums under construction currently — one in Atlanta for $1.4 billion and one in Minnesota for $1.1 billion — show costs rising.
Indeed, the study found that the cost of building an NFL stadium has been growing faster than inflation in the construction industry.
Having such numbers can offer insight regarding concepts to pay for it, noted Erik Bruvold, president of NUSIPR.
“Developing a financing plan for a new stadium requires estimating the amount of money that will be required. This report seeks to help with that effort – providing a rough estimate for what San Diego will need to spend to construct a stadium similar to those going up in other NFL-cities.”
Adam Day, the chair of the city's advisory group looking into a new stadium, earlier estimated the cost would be between $700 to $1.5 billion, a pretty big spread.
Most estimates have been in the billion range.
This study pretty much affirms that.
And that Tampa Bay got way lucky … (The stadium even has that cool pirate ship, with cannons ...)