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  • ramsanddodgers
    Rams Stadium passes $4 Billion
    by ramsanddodgers
    This new Los Angeles Rams stadium better be good.

    We know it will be expensive, to a record level. Sports Business Journal reported that costs for the new stadium in Inglewood have passed $4 billion. You read that right.

    Stadium costs have gone way up through the years, but no other stadium in the United States has come anywhere close to this. SBJ said the most expensive stadium previous to this was MetLife Stadium in New Jersey, and that cost $1.7 billion. The Raiders’ new stadium in Las Vegas is expected to cost more than $2 billion. That’s still less than half of what the Rams stadium, which will also be used by the Los Angeles Chargers, will cost. Cost keeps rising

    When Rams owner Stan Kroenke first got approval to move his team from St. Louis to Los Angeles, his proposed stadium was slated to cost $2.3 billion, SBJ said. That would have been the most expensive stadium in U.S. sports. About $2 billion has been added onto the cost since then.

    In March, the Los Angeles Times reported the price had crept to about $3 billion. Sports Business Journal said the price is now an estimated $4.25 billion. SBJ cited sources that were involved in a bank meeting on May 4 to arrange a $2.25 billion loan. What is costing so much?

    The stadium project always had big expectations. It was designed to be an enormous complex, designed to be an entertainment district as well as host big events like Super Bowls.

    The extra costs, in part, come from ensuring the stadium can withstand an earthquake, SBJ reported. There have also been other costs like access roads and utilities that are adding to the price tag.

    That $4.25 billion figure doesn’t even include the entire complex. It does include a 6,000-seat amphitheater, SBJ said, but not retail space and commercial development or a new NFL Network headquarters. When all that is included, the total project cost could exceed $5 billion, Sports Business Journal said. Kroenke has $1.6 billion invested

    SBJ broke down the investment in the stadium as $2.25 billion for various banks, $1.6 billion for Kroenke and $400 million from the NFL’s stadium financing fund. The Chargers will also pay off a portion of the debt costs, SBJ said.

    Kroenke’s investment “is unprecedented,” a banker told Sports Business Journal.

    SBJ explained how the Rams will pay down the debt — they’ll use the bank credit as construction advances, and use personal seat license fees to pay down the debt — but SBJ said the interest alone could be more than $50 million a year.

    The stadium’s opening was already delayed a year due to weather issues. Once the stadium does open in 2020, it will be among the best stadiums in all of sports, and there’s a good chance it will top that list. But until that first Rams game in the new park, Kroenke is probably hoping another billion or so isn’t added onto the price tag.

    Frank ...
    -05-21-2018, 10:33 PM
  • MauiRam
    Latest L.A. proposal for NFL stadium has a roof ..
    by MauiRam
    By Sam Farmer
    April 16, 2010 | 9:20 p.m.

    The latest concept for an NFL stadium in downtown Los Angeles — a $1-billion venue next to Staples Center — has, The Times has learned, something none of its scuttled predecessors had.

    A ceiling.

    Although that might seem like a minor distinction, proponents of that project say that a retractable roof would greatly enhance the versatility of the building, making it ideal for major sporting events such as the Final Four, championship title fights, and all sorts of national conventions.

    Influential businessmen Casey Wasserman and Tim Leiweke are investigating the possibility of developing a privately financed stadium where the convention center's West Hall sits. That would serve as the cornerstone of AEG's sprawling sports and entertainment district, a so-called campus that already includes Staples Center, LA Live, and a just-constructed 1,000-room hotel.

    Wasserman approached Leiweke with the idea last October, touting the site as the most viable and interesting solution for a region that has struggled to find both.

    "This is just thinking right now," said Leiweke, AEG's president and chief executive. "It's saying, ‘If we're going to invest this kind of time and money anyway — even if it doesn't cost taxpayers a dollar — shouldn't we think about the other uses if we had a roof to cover it?'"

    The vision is that the complex would not only be the quintessential site for Super Bowls but also could play host to the Pro Bowl; the NFL draft (alternating years with New York); the scouting combine (alternating years with Indianapolis); and the finals of the World Cup in 2022. The NFL has made it clear that any new stadium in Southern California should be able to accommodate two teams, leaving open the possibility that the primary tenant could one day share the venue.

    The backers believe L.A. would be the ideal spot for virtually every major convention, which could use the stadium along with supplemental space added to replace the West Hall (roughly 14 acres). That's sufficient space to fit the structure of any current NFL stadium.

    "This is the final piece to the downtown puzzle," said Wasserman, founder and chief executive of Wasserman Media Group. "It's the only chance for the city to benefit from the economic power of a stadium of this caliber."

    Backers say a stadium of this magnitude would have unparalleled revenue streams from a variety of sources, among them naming rights, suites, Super Bowls and seat licenses that would pay for the facility in similar fashion to its neighboring Staples Center.

    Buying a team would cost about $1 billion more, but that wouldn't necessarily be required if a franchise relocated with the same owner.

    The city owns the convention center, and the support of the mayor...
    -04-18-2010, 12:52 PM
  • RamBill
    Would The Rams Pay For Their Own Stadium?
    by RamBill
    (KPLR)– What’s next for the Rams? The city says it will reject an arbitrator’s ruling in favor of the Rams about upgrading the dome.

    So the next step is likely talks over a new stadium. But since taxpayer funding is unlikely would the Rams be willing to stay if they have to pay for their own stadium?

    The arbitrators ruled that it would take $700 million in taxpayer-funded changes to make the dome among the NFL’s top stadiums. So would that mean talks over a new Rams stadium? If so, where would it be? And who would pay for it? Or might the Rams head back to Los Angeles in 2015?

    Watch Stadium Story
    -02-04-2013, 11:02 PM
  • Nick
    NFL consensus builds for a Rams-Chargers stadium project in Inglewood
    by Nick
    NFL consensus builds for a Rams-Chargers stadium project in Inglewood
    Sam Farmer and Nathan Fenno
    LA Times
    January 11, 2016, 12:39 PM

    On the brink of a vote that could return the NFL to Los Angeles, a consensus is building within the league for the St. Louis Rams and San Diego Chargers to share a stadium in Inglewood.

    Multiple league officials and owners not involved with the Inglewood project, or the competing proposal in Carson, say there is momentum to pair the two franchises in what one owner describes as a "transformational" project backed by the Rams.

    The Chargers and Oakland Raiders want to build a stadium in Carson, and to this point, Chargers owner Dean Spanos has stood by his partnership with Raiders owner Mark Davis.

    The league insiders, who spoke on the condition they not be identified because of the sensitivity of the matter, say Spanos doesn't want to be seen as turning his back on a partner. This makes the path to what is emerging as the preferred pairing more difficult. But the insiders believe the matter can be resolved during the special meeting that starts Tuesday in Houston, where owners hope to find an answer to the two-decade L.A. vacancy.

    One influential owner whose preference has not been apparent in public or private, touted Inglewood over Carson, saying "the deals aren't even close."

    In the past week, there has been a flurry of behind-the-scenes activity among owners and NFL staff in an attempt to clear the way for a decision to be made at these meetings.

    It is extremely rare for the NFL to devote a full day to a single topic, much less two days in the middle of the playoffs. It underscores how determined the NFL owners and Commissioner Roger Goodell are to reach an accord that would bring professional football back to the country's second-largest market.

    It is widely thought that the L.A decision will help define the legacy of Goodell, and shape the financial future for a league that generates $10 billion in annual revenue.

    All three teams want to relocate to L.A. for the 2016 season, meaning time is of the essence to move their franchises and begin selling tickets.

    Although the general meetings start Tuesday, the Los Angeles committee is convening Monday.

    There's a sense that most owners want the Chargers and Rams in Inglewood, but aren't sure of the best way to make it happen. The idea of the Raiders returning to L.A. is not popular among many owners.

    One owner said that the NFL has to realize that "we just can't solve all three stadium problems in one fell swoop."

    It would mean striking a bargain that keeps the Raiders out of L.A. but doesn't leave them empty handed. Such a maneuver could mean that the Raiders return...
    -01-11-2016, 01:41 PM
  • texas_rams
    Inglewood Stadium Naming Rights will reportedly start @ 600 Million
    by texas_rams
    The naming rights for the eventual home of the Los Angeles Chargers and Los Angeles Rams are for sale, but not on sale.

    The Los Angeles Rams own the naming rights to the stadium currently under construction in Inglewood, California. The franchise is looking to fleece some sponsor willing to put up the cash necessary to acquire the Rams stadium naming rights with that asset.

    Before fans call the Rams’ asking price ridiculous, context is necessary. MetLife Stadium, the home of the New York Giants and New York Jets, has a naming-rights sponsorship currently in place with the well-known insurance provider. That deal carries an average annual value of $17-$20 million over 25 years for a total value of $425-$625 million. What the Rams are seeking is a shorter-term contract with a potentially smaller price tag

    Full Article...
    -05-02-2017, 06:13 PM