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Rams Looking for Up to $500 Million in Additional Stadium Financing

The Rams have requested up to $500 million in additional NFL stadium financing, and a doubling of the amount of time typically required to pay the money back, Daniel Kaplan of the Athletic reports.

That would bring to as much as $900 million the club arranged to borrow from the league for SoFi Stadium.

The Rams’ planned shared venue with the L.A. Chargers is scheduled to open this summer, though whether it can do so in the midst of the pandemic is unclear. And if it does, the teams almost certainly will not play in front of fans, depriving the Rams of much-needed cash to pay down debt.

“There’s a massive request for debt waivers and additional G-4 from those in LA,” said one team source, referring to the NFL stadium lending program, known as G-4. “And they’re asking to pay that over 30 years as opposed to 15 years.”

The Rams deferred to the NFL, which declined to comment. The request is on the agenda for next week’s virtual owners meeting, a source said.

There are three issues driving the Rams’ request: cost overruns, less than expected personal seat license sales, and the prospect of a gut punch to gate revenue this fall.

When in January 2016 owners voted to approve the St. Louis Rams’ Inglewood, Calif. proposal, the price tag was then $2.2 billion (the Chargers a year later would trigger an option to share the venue). But the cost of the stadium, which includes a retail and entertainment district, rapidly escalated in part because of pricey earthquake mitigation measures. Reports have now pegged the cost at anywhere from $5 billion to $6 billion.


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