NFL and Rams reach $790 million settlement
By: Jacob Lyle
November 22, 2021
In 2017, St. Louis County and the Regional Convention and Sports Complex Authority sued the NFL and the Rams. This was in response to them believing they claimed the league did not honor its own relocation policy and hold good faith negotiations to prevent the Rams’ relocation from St. Louis.
The $790 Million settlement also comes just before a trial set for January. Earlier this month, the NFL and Rams lost their efforts to have the case tried elsewhere in Missouri and not St. Louis. The St. Louis officials sought financial damages they claim they suffered when the Rams moved to Los Angeles. The move left St. Louis with debt on the team’s former stadium, which was built with public funds.
"The defendants in the lawsuit are Rams owner Kroenke Sports & Entertainment, the other 31 professional football teams, and their owners. The suit sought at least $1 billion in damages". Stated by the St. Louis Post-Dispatch.
The officials of St.Louis claimed the city lost between "$1.85 million and $3.5 million per year in amusement and ticket tax collections, another $7.5 million in property tax and $1.4 million in sales tax, totaling more than $100 million lost in annual revenue".
This is very interesting the NFL decided to take the settlement before early 2022 as the Super-Bowl will be in the new Los Angles Rams stadium. Hence, settling before then was a “smart move,” sports attorney Irwin Kishner told CNBC on Wednesday.