After a failed bid with the Oakland Raiders to build a stadium in Carson, California in January 2016 the Chargers received the first option to relocate to Los Angeles and share the winning bid (SoFi Stadium) with the Los Angeles Rams, conditioned on a negotiated lease agreement between the two teams. The option if not taken by the Chargers would have expired on January 15, 2017, at which time the Oakland Raiders would have acquired the same option. On January 29, 2016, the Rams and Chargers came to an agreement in principle to share the stadium. The Chargers would contribute a $200 million stadium loan from the NFL and personal seat license fees to the construction costs and would pay $1 per year in rent to the Rams.