The San Diego Chargers and Oakland Raiders announced Thursday that they have collaborated on a proposal to build a privately financed, $1.7 billion stadium in Carson, California, that the two teams would share if they relocate to the Los Angeles market.
In a joint statement, the Chargers and Raiders said they have been working for many years in their home markets to find stadium solutions and that they remain committed throughout 2015 to try to seek publicly acceptable solutions to the stadium issues in their current cities.
However, according to the statement, the two teams also will continue to work in Carson to preserve their options in the event that efforts in their local markets fail.
Both teams have kept the NFL committee handling the possible relocation of teams to Los Angeles informed of their efforts.
"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 in the joint statement.
The agreement was earlier reported by the Los Angeles Times.
A source involved in the negotiations told ESPN.com's Arash Markazi that the Chargers came to Carson officials first with the stadium proposal nine months ago and that the Raiders later joined the talks, which intensified after St. Louis Rams owner Stan Kroenke announced plans in January to build an 80,000-seat stadium in Inglewood.
The Chargers and Raiders are partnering with a local development group, and they will address the project Friday at a news conference near the site of the proposed stadium, a 168-acre parcel near the 405 freeway in Carson. The city is 15 miles south of downtown Los Angeles and is home to Major League Soccer's Los Angeles Galaxy.
The group intends to start a petition drive for a ballot initiative to get voter approval to build the stadium.
This latest development comes a month and a half after an announcement in which a developer and a company operated by Kroenke unveiled plans to build a stadium on land he owns near Hollywood Park.
In addition, a plan for an NFL facility in downtown Los Angeles remains alive. The would-be stadium known as Farmers Field, until recently the leading candidate for the NFL's return, now becomes a long shot with multiple competitors and no clear team attached.
Los Angeles has not had an NFL team since the Rams and Raiders departed for St. Louis and Oakland in 1995.
The Chargers, the Raiders and the Rams are teams that could potentially relocate to the lucrative Los Angeles market in the near future. All three teams can terminate their leases at the end of the 2015 season.