The cost of doing business has gotten a little more costly for the Rams.
The team that left St. Louis nearly three years ago will pay up to $24 million to settle lawsuits filed by fans who had purchased Personal Seat Licenses at the facility previously known as the Edward Jones Dome.
According to the Los Angeles Times, the settlement covers 46,000 PSLs that were scheduled to run through 2024.
The payments will range from $75 to $1,350, based on the PSL. The payments are capped at $24 million; if the claims exceed that amount, they’ll be reduced on a pro rata basis.
Typically, the settlement of a class-action lawsuit entails a specific plan for providing all potential claimants with notice that they have the right to collect.
The settlement also will pay the lawyers who brought the lawsuit $7.2 million, pushing the maximum total payout north of $31 million. The entire settlement will be subject to court approval.