The San Diego Chargers and Oakland Raiders are pursuing the possibility of building a joint stadium in the Los Angeles area, the teams announced on Thursday.
The plan would be to build a $1.7 billion stadium in Carson that they would share, according to the Los Angeles Times. The venue would be privately financed.
Both teams will continue to look to get a deal done for new stadiums in their home markets and are looking for public subsidies, according to the Times. From the joint statement:
We are pursuing this stadium option in Carson for one straightforward reason: If we cannot find a permanent solution in our home markets, we have no alternative but to preserve other options to guarantee the future economic viability of our franchises.
The teams said they understand the NFL’s rules for relocation and “respect the right of the NFL’s owners to decide on all Los Angeles-related relocation issues.” All relocations most be approved by three-fourths of the league’s owners.
Both teams are currently in year-to-year leases in their home stadiums and have long been the subject of relocation talk.
More Must-Reads From TIME
- The 100 Most Influential People of 2024
- The Revolution of Yulia Navalnaya
- 6 Compliments That Land Every Time
- What's the Deal With the Bitcoin Halving?
- If You're Dating Right Now , You're Brave: Column
- The AI That Could Heal a Divided Internet
- Fallout Is a Brilliant Model for the Future of Video Game Adaptations
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
Contact us at letters@time.com