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With NFL Rams gone, St. Louis still stuck with stadium debt
Source: Reuters
Life | Wed Feb 3, 2016 7:33am EST
With NFL Rams gone, St. Louis still stuck with stadium debt
BY ROBIN RESPAUT
The National Football League’s Rams left behind more than bitterness when the team ditched St. Louis for Los Angeles last month - it left a stadium saddled with about $144 million in debt and maintenance costs.
Taxpayers will now shoulder the remaining payments for the Edward Jones Dome with only the help of revenue from tractor pulls, volleyball tournaments, concerts and the like.
St. Louis Board of Aldermen President Lewis Reed has asked the NFL to help pay off the stadium, but so far has gotten no response.
“The fans are being left holding the bag,” Reed said. “I think they should factor that into the total cost of the move."
The leftover debt and maintenance costs are another example of the NFL's negotiating prowess with many cities, sports economists said, and also reflects larger problems with the deal St. Louis struck with the Rams.
[font size=1]-snip-[/font]
With NFL Rams gone, St. Louis still stuck with stadium debt
BY ROBIN RESPAUT
The National Football League’s Rams left behind more than bitterness when the team ditched St. Louis for Los Angeles last month - it left a stadium saddled with about $144 million in debt and maintenance costs.
Taxpayers will now shoulder the remaining payments for the Edward Jones Dome with only the help of revenue from tractor pulls, volleyball tournaments, concerts and the like.
St. Louis Board of Aldermen President Lewis Reed has asked the NFL to help pay off the stadium, but so far has gotten no response.
“The fans are being left holding the bag,” Reed said. “I think they should factor that into the total cost of the move."
The leftover debt and maintenance costs are another example of the NFL's negotiating prowess with many cities, sports economists said, and also reflects larger problems with the deal St. Louis struck with the Rams.
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Read more: http://www.reuters.com/article/us-sports-nfl-stadiums-insight-idUSKCN0VC0EP
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