Report: Owners approve lending Rams another $500 million for stadium

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NFL owners approved the Rams’ request for another $500 million loan for SoFi Stadium development, Daniel Kaplan of TheAthletic.com reports.

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

Cost overruns and slower than expected personal seat license sales played into the request, according to Kaplan. Also, all teams anticipate lost ticket revenue this season.

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.

30 responses to “Report: Owners approve lending Rams another $500 million for stadium

  1. fans dont go to games any more . cant beat Hi Def and LA weather. when is it time to cut bait and move on..

  2. Well, at 0% interest thanks to the imploding Trump economy, give Stan all the money he wants.

  3. They, and the taxpayers that helped fund it, should be getting actual ownership/profit equity.

  4. Mo money, mo money, mo money! 6 billion for a stadium that the visiting teams will enjoy? Priceless.

  5. Seriously? Loans to billionaires?
    This is yet another example of how the rich get richer.
    Oh, and who besides Amazon is making a killing during this pandemic?
    Walmart.

  6. That stadium is a disaster. I said it would be 3 years ago here and it is. Who is going to the hood to shop? Thieves. This is Inglewood. What will the leases be like for these shops? It’s unaffordable. And even the rubes know that personal seat licenses are a ripoff and joke. Nobody cares about the Charges and just a few more care about the Rams. The cost is effectively $180 per ticket for 30 years. Good luck with that.

  7. Billionaires helping another Billionaire, makes me weepy. In theses troubling times, they are all in it together. True heroes.

  8. Both teams will move within five years, there’s no way fans in LA are going to go to that place to watch mediocre football

  9. Organized crime infiltrated every facet of our society, this is why you astronomical building costs and such a corrupt gov’t- it happened in the fifties and has consistently gotten more nnd more entrenched, Insurance is a scam, look at how most things work and you will see how they parallel exactly what the mob had been doing previous to the infiltration. This is whay the rich continue to get richer and the rest of us are at their mercy, and yes they do rule through fear, terror and the threat of retaliation, sad but true

  10. ee00ee says:
    May 19, 2020 at 11:12 pm
    They, and the taxpayers that helped fund it, should be getting actual ownership/profit equity.
    —————————————————————————————-
    This stadium isn’t funded by the taxpayers its privately financed by Stan with Chargers throwing a few hundred million

  11. No one is buying PSLs’ this year. Maybe should have looked at the contractors to see how many projects they have done and how many either came in on budget or well over.

  12. Wow, Enos Stan Kroenke has to borrow money? Look at his total net worth. With the likes of Arsenal, the Avalanche, the Nuggets, the Pepsi center etc he needs money? He owns one of the largest ranches in Texas, multiple properties all over the world and lets not forget his sugar momma that is a Walmart heir. I wouldn’t give this guy a dime to buy a pickle out of a side cart.

  13. ee00ee says:
    They, and the taxpayers that helped fund it…

    Um, taxpayers did not help fund it.

  14. Thats a heck of a lot of money.
    I assume the NFL feels it’s on the hook and is forced to prop it up.
    Just as long as the public isn’t financing any additional loans.

  15. Since the “LA” Chargers started this fiasco of a journey, it’s been a disaster. Their option was to put $350 million to upgrade Qualcomm but Spanos’s false pride decided to move to Los Angeles. LA city is a mess. The Chargers own nothing in the LA area. They are renting everything. They have permanently lost their fan base. That’s a major no-no when deciding to relocate a team. Spanos has a twenty year deal to rent playing time from Kroenke. As the LA Charger problems magnify they cannot be sold to any sane buyer. The NFL owners and Goodell have a massive problem with the LA Chargers because it’s a failing business franchise which has been caused by a greedy owner. I’ve been a 50 year Charger fan and ticket holder. No Mas!

  16. Hey, at least its privately funded. Makes a person wonder how the heck the Vikes built a stadium just as good 4 years ago for 1/6th that cost. And Minnesotans actually attend football games.

  17. Is it just me or does that stadium look like one big magnifying glass to cook the fans? I hope they tint that glass roof!

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