The 68,500-seat stadium would be managed by a private entity instead of the city.
He is in a contract dispute with the team.
According to a San Diego Union-Tribune report, the deal is for four years and more than $11 million per year.
The total is well above the 66,000 or so needed to get the plan on the November ballot.
Faulconer says key questions remain on stadium proposal.
A group of Charger fans believe some hotels are standing in the way of plans to build a downtown stadium.