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UPDATE: Owners approve lending Rams $500 million for stadium

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  • UPDATE: Owners approve lending Rams $500 million for stadium

    The Rams need more financing for SoFi Stadium, which has a price tag that keeps rising.

    According to Daniel Kaplan of TheAthletic.com, the Rams’ request for up to $500 million in additional NFL stadium financing and additional time to pay it back is on the agenda for next week’s virtual owners meeting.

    The request is on top of the $400 million the Rams already borrowed from the league’s stadium lending program. The team also wants to pay the loan back over 30 years rather than the typical 15 years.

    The stadium has seen cost overruns and slower than expected personal seat license sales, per Kaplan, and all teams anticipate lost ticket revenue this fall.

    The price tag of the stadium, which the Chargers will share, was $2.2 billion when owners approved the Rams’ Inglewood, California, proposal in January 2016. The estimated final cost of the stadium, which includes a retail and entertainment district, has ballooned to somewhere between $5 billion and $6 billion, according to Kaplan.

    Allegiant Stadium in Las Vegas, which also remains under construction, is the second-most expensive stadium in league history at $1.9 billion.

    SoFi Stadium is scheduled to open this summer, but it remains to be seen how the COVID-19 pandemic will affect that.

    NFL owners will vote next week to increase the borrowing limit for all teams from $350 million to $500 million in case games are played without fans.

    https://theathletic.com/1814617/2020...l-for-stadium/

  • #2
    "Recent reports also indicate that 10% of said funds will be allocated to redo the Los Angeles Rams new uniform design."

    [ (^_^) Wishful thinking ... Sorry for butting in here. ]

    Comment


    • #3
      Make stan sell off his holding to pay for the stadium, or get a loan from LA. Shoot, he could also get a standard business loan with the team as collateral based on the supposed increase in value for just moving to LA.

      By all rules of the NFL's supposed relocation procedures, they should have stayed in STL, And the stadium would have been done by now without the need to ask the NFL for additional funding that is against the stadium funding rules. Of course, I am sure the NFL will break those rules also, just so they won't have to admit that the RAMS and the NFL would have been better off with the RAMS staying in STL.


      gap

      Comment


      • #4
        Todd Gurley, Brandin Cooks, cap deficit and now this. It’s been an arithmetic nightmare offseason. Thank goodness we have a new logo and uniform, oh wait, maybe not.

        I truly hope that this all is not a harbinger of how the season will unfold.
        Last edited by mde8352gorams; -05-15-2020, 11:03 AM.

        Comment


        • #5
          I’m only seeking a 50 million dollar loan to stock up on our peachy keen new apparel.

          Comment


          • #6
            I think the whole season is a loss but who knows? IMHO they squandered several opportunities and COVID is taking care of the rest. The stadium should have, could have been finished last year, on budget. The contracts could have been dealt with last year when Gurley and Cooks had more value (Cooks did gain us Jefferson). The Uniform upgrade could have, should have been the classic Blue/Yellow with wider bold horns or simply adding the blue depth lines within the horns, not “2 bananas”. The phallic dead goat head should have been dropped. SOMEONE should have caught this. The logo is simply terrible. The Rams came up with 3 UNIs. The BLUE & YELLOW ARE FINE but the anemic Bone and the all Blue (color rush?) are just flat out confusing. Drab and unimaginative. No color rush? No White horns, No Throwbacks? I know they will release new alternatives 2021 & 2022 but the Chargers flat out smoked us with SIX new UNI designs this year. JJ says, FIND ANOTHER TEAM? Well JJ, if the RAMS keep treating their fans this way..they won’t have to travel far.

            Comment


            • #7
              Man this offseason has felt like one ever lasting train wreck to me and this doesn't help any. Really, you need more money? Come on man.

              "I've been saving the Universe for over a thousand years. I figure it owes me just this once."

              Comment


              • #8
                Dez is too shy to admit it, but he had 4 front row tix to the taylor swift concert that was supposed to open the new stadium before it got covid-cancelled

                ramming speed to all

                general counsel

                Comment


                • #9
                  only got the 2 GC, for you and me ;)

                  __________________________________________________________
                  Keeping the Rams Nation Talking

                  Comment


                  • #10
                    A Taylor Swift concert would be entertaining. Seriously. But only once.
                    “Oh, 100 percent,” Donald said. “I feel like the words, ‘Thank you,’ ain’t enough. You’ve got to show it... Instead of saying thank you — show it.”

                    Comment


                    • #11
                      I respect many of the posters here. I use to be a big St. Louis Rams fan from the time they moved to St. Louis until they left. They gave St. Louis a few good years early and then had a decade of bad football. Kroenke was a Missouri guy and had University of Missouri ties with his family and donating money to them. He had all the money he needed and St. Louis was willing to pay for a good portion of the stadium. St. Louis is a good sports town and when the XFL Battle Hawks came they supported them. They started out selling the lower area and they were selling out the games so they opened up the entire stadium. The NFL I could see screwing over St. Louis but Kroenke who had strong ties to the area and could have done some good for the area not only screwed St. Louis over but he bashed them on his way out. Every since then I don't watch any game unless my wife happens to have on the Packers I might watch a few minutes. She is a Packers fan from having grew up in Wisconsin. The one good thing about the Packers is their fan owned. I really do despise the NFL, Kroenke, and the owners for what they did to St. Louis after all the support St. Louis showed and willingness to go in on a new stadium when other cities were not. I used to be on this forum posting multiple times a day. This is the first time I have been to this forum since the Rams left and I was surprised my login even worked. I hope the NFL suffers and I hope Kroenkes stadium is a bust. Say what you want but they screwed St. Louis and I would like to see them get screwed.

                      Comment


                      • #12
                        Originally posted by ljcrayton View Post
                        The stadium has seen cost overruns and slower than expected personal seat license sales
                        Ya think?? The PSL and ticket prices are outrageous!

                        Comment


                        • #13
                          Originally posted by RamFan_Til_I_Die View Post
                          Ya think?? The PSL and ticket prices are outrageous!
                          Are they? I'm not in the loop as I haven't gone to a game in several years, but I see on the Rams' ticket site, season tickets are starting at $105 per game, including licensing. I'm assuming that's for the nose bleed seats, but I paid around $85-$90 for single game tickets every year I went to St. Louis to see games for so so seats.

                          Comment


                          • #14
                            Originally posted by r8rh8rmike View Post

                            Are they? I'm not in the loop as I haven't gone to a game in several years, but I see on the Rams' ticket site, season tickets are starting at $105 per game, including licensing. I'm assuming that's for the nose bleed seats, but I paid around $85-$90 for single game tickets every year I went to St. Louis to see games for so so seats.
                            My season tickets in the coliseum were on the visitors side, 20 yard line, row 21. Not the best seats but decent. Cost was $135/game with no SSL. Those same seats now are $375/game ($3,750/year since you have to pay for 10 games) plus a SSL of $25,000 per seat. No way in hell I'm paying that.

                            Anything on the lower section, or in the second section on the sidelines, is considered luxury now, with full service and all the fancy crap rich people will eat up. Regular fans are priced out if they want good seats.

                            Literally only the worst seats in the house are affordable. And why even pay that when you can see and enjoy a game better from home? I probably will still go once a year, but you save a TON of money buying single game tickets through StubHub or NFLticketexchange. And even then it will have to be mediocre or bad seats.

                            Click image for larger version  Name:	Rams season ticket pricing map2.jpg Views:	1 Size:	1.86 MB ID:	832972


                            Click image for larger version  Name:	Rams season ticket pricing map.jpg Views:	0 Size:	194.8 KB ID:	832971
                            Last edited by RamFan_Til_I_Die; -05-18-2020, 05:31 PM.

                            Comment


                            • #15
                              I probably will still go once a year, but you save a TON of money buying single game tickets through StubHub or NFLticketexchange. And even then it will have to be mediocre or bad seats.
                              Yeah, ticket outlets are a real bargain these days, especially in LA. We'll see what the availability for SoFi is and how much tickets go for. If Garcetti and Newsome don't ban sporting events in 2020, I might try to join you for a game.

                              Comment

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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.

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                                -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...

                                https://fansided.com/2017/05/01/rams...t-600-million/...
                                -05-02-2017, 06:13 PM
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