Report: Rams seeking up to $500 million in additional stadium financing

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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.

15 responses to “Report: Rams seeking up to $500 million in additional stadium financing

  1. Wait a minute! When the Rams moved from St Louis it was proclaimed by everyone that Stan was going to build this stadium with HIS OWN MONEY. Not only is it not his own money but he has now gone back to the trough for more of someone else’s money! The interesting question is how much other financing has he received besides from the NFL. Maybe Stan is not as wealthy as he would has us believe and it is now obvious that he is certainly not very liquid.
    I am sure the lawyers in St Louis are watching this very closely.

  2. I guess they realize the redesigned jersey and apparel sales won’t be enough to cover it.

  3. Maby someday they will pay Gurley and Mathews what they owe them. What a disaster this organization is.

  4. The owner is the owner of Walmart. Come on bro. Pay your bills and write some checks. You will be fine.

  5. extending it to 30 years makes sense because after the move out in 10 years they can move back in 20 years and finish the loan then.

  6. Tough luck Stan. You misled over self paying. You coerced Chargers to be subservient instead of partner. Basically you lied to try and get the whole pie for yourself. No problem, YOU pay for the pie… They should show him no mercy using public funds since you know he wont be forthcoming to share any of the private profits.

    Let it go belly up for all I care.

  7. Isn’t this stadium already $4BIL over budget?

    The Rams fans WILL turn there back on them just like they did the last time, BANK IT!

    LA has had what 6 NFL teams(Rams, Chargers, Raiders, Raiders, Rams, Chargers or was it Raiders 3 times, I forget) and the city didn’t support a one of them, why does anyone think anything has changed this time?

    But it is going to be fun to watch a 40% full stadium and Kroenke losing his ass and moving again before the place ever comes close to paying for itself!

    That’s what you get for turning your back on not only LA but St Louis too, some people just don’t deserve to be NFL owners, there needs to be a better screening process!

  8. OH and Cali just extended there “lock down” by three months, this just keeps getting beter and better by the day!

    HEY Kroenke, aren’t you glad you moved back to Cali?

  9. What an epic disaster. 6 billion and counting. Hard to understand the ROI on that thing with a 30 year lifespan.

  10. Serves him right, after all the complaining that he did that Missouri and St. Louis couldn’t make him a decent offer to build a new stadium for him. Even though they were the only location of all the teams moving that year to offer anything decent (which, I believe, was about $350 million, but I could be wrong about the number).

    Although I guess in hindsight he was correct. $350 billion would have been adequate.

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