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Moving to L.A. doubled value of Chargers franchise, professor says

SAN DIEGO -- Dean Spanos may be the most hated man in San Diego, but he doubled the value of his NFL franchise by moving it to Los Angeles, a sports business expert says.

Dr. Jim Lackritz, the head of the Sports Business Department at San Diego State University, told FOX 5 that the value of the San Diego Chargers was about $1.5 billion. By moving north, the team became worth about $3 billion. Taking into account the costs of the move, Spanos still will make a $1 billion profit from the move, Lackritz said.