Land Grab

SoccerCity isn’t about soccer. It’s about maximizing profits for multimillionaires at the expense of taxpayers and San Diego State University. This deal would be the largest transfer of taxpayer wealth to a private interest in San Diego’s history.

There’s no “give and take” in the SoccerCity plan – wealthy investors stand to make a huge profit by only developing what’s profitable and San Diegans will be left to clean up the resulting mess. Public land should provide a public benefit, not just an obscene profit to a group of rich investors.

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What does this mean?

  • Many of the benefits that FS Investors has promised may never come to fruition.
  • Rather than provide public benefit, the SoccerCity hedge fund speculators plan to shift the burdens of traffic mitigation and park construction onto taxpayers and the City.

The fine print

  • As an initiative, the plan can’t be changed. Once approved, San Diego is stuck with it, no matter how big the issues are now or in the future.

No Environmental Review

Extreme Gridlock

Land Grab

Back Room Deal

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