$790M settlement in suit over Rams’ St. Louis exit
ST. LOUIS» The NFL and Rams owner Stan Kroenke will pay $790 million to settle a lawsuit filed by St. Louis interests over the team’s relocation to Los Angeles, a joint statement from St. Louis city and county said Wednesday.
No details of the settlement were released, and it wasn’t immediately clear how much would be paid by Kroenke and how much would be covered by owners of the league’s 31 other teams.
“This historic agreement closes a long chapter for our region, securing hundreds of millions of dollars for our communities while avoiding the uncertainty of the trial and appellate process,” read a statement from St. Louis Mayor Tishaura Jones and St. Louis County Executive Sam Page.
St. Louis-area officials haven’t determined yet how the settlement funds will be used, the statement said.
The settlement, reached in mediation, ends a 4 K-year-old lawsuit filed in the wake of the Rams’ 2016 departure. Kroenke and the NFL had failed in bids to have the lawsuit dismissed or at least moved out of St. Louis, and courts were sympathetic to the St. Louis side’s effort to disclose financial information of team owners — rulings that hastened the push for a settlement.
The case had been scheduled to go to trial Jan. 10. The lawsuit sought more than $1 billion. It claimed the team’s move cost the St. Louis region millions of dollars in amusement, ticket and earnings tax revenue.
Then-owner Georgia Frontiere moved the Rams from Los Angeles in 1995 to her hometown of St. Louis, where they stayed for 21 seasons before Kroenke moved them back.
Kroenke, a Missouri real estate developer who is married to an heir of the Walmart fortune, became a minority owner when the team first came to St. Louis. Frontiere died in 2008 and left the team to her children, who sold the Rams to Kroenke in 2010.
It wasn’t long after that that the Rams began pushing for hundreds of millions of dollars in improvements to the downtown domed stadium built with taxpayer money in the early 1990s.
St. Louis interests initially proposed a more modest upgrade, then eventually proposed a new $1 billion stadium along the Mississippi River that would be funded jointly by taxpayers, the team and the NFL. The league and the team balked.
Instead, Kroenke purchased land in Inglewood, Calif., and moved the team.
Beyond losing an NFL team, St. Louis residents were incensed by Kroenke’s 29page application to relocate ahead of the January 2016 owners meeting where the move was approved. The document was critical of St. Louis for its decline in population, questioned the region’s economic future and called into question whether it could support baseball’s Cardinals and hockey’s Blues as well as an NFL franchise.