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OT: Rams going Bankrupt? Part III
Posted on: May 20, 2020 at 20:16:16 CT
North co-co champs MU
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https://www.stltoday.com/sports/columns/ben-frederickson/benfred-hey-commissioner-goodell-what-happened-to-that-hard-line-on-nfl-stadium-funding/article_d3e9c2ff-9343-5131-a9c2-ff3dbcb7c98f.html
In Part I it was described how Kroenke's stadium costs, relocation costs and legal liabilities is approaching $8-10 billion. For a franchise worth $3.8 and the new stadium already factored in via Forbes.
In part II of the entertaining legal saga, Kroenke recently asked the NFL for $500 million more in Relocation Loan assistance and twice the time to pay it back. This increases his NFL borrow to $700 million.
The NFL approved the $500 million loan, and for Part III, I refer to a brilliant deduction by Ben Frederickson of the STLPD that further cements St. Louis' legal case against the Rams/NFL.
IN Dec 2015 - The NFL rejected St. Louis' stadium financing proposal because the city had the audacity to ask for $300 million in NFL loan assistance, when their specific guidelines only allow $200 million. How dare you St. Louis!!!
Uh - oh... the NFL just violated their guidelines again, cause the Rams are now up to $700 million in Loan Assistance... $500 million more than allowed (per their own words) with twice the term to pay it back.
Thanks for the ammunition.
The NFL is in a no win situation. Deny the loan to Kroenke and it further puts the Rams into likelihood of BK. Approve the loan, and it almost guarantee's St. Louis' victory in the legal case.
Edited by North co-co champs at 20:17:15 on 05/20/20
In Part I it was described how Kroenke's stadium costs, relocation costs and legal liabilities is approaching $8-10 billion. For a franchise worth $3.8 and the new stadium already factored in via Forbes.
In part II of the entertaining legal saga, Kroenke recently asked the NFL for $500 million more in Relocation Loan assistance and twice the time to pay it back. This increases his NFL borrow to $700 million.
The NFL approved the $500 million loan, and for Part III, I refer to a brilliant deduction by Ben Frederickson of the STLPD that further cements St. Louis' legal case against the Rams/NFL.
IN Dec 2015 - The NFL rejected St. Louis' stadium financing proposal because the city had the audacity to ask for $300 million in NFL loan assistance, when their specific guidelines only allow $200 million. How dare you St. Louis!!!
Uh - oh... the NFL just violated their guidelines again, cause the Rams are now up to $700 million in Loan Assistance... $500 million more than allowed (per their own words) with twice the term to pay it back.
Thanks for the ammunition.
The NFL is in a no win situation. Deny the loan to Kroenke and it further puts the Rams into likelihood of BK. Approve the loan, and it almost guarantee's St. Louis' victory in the legal case.
Edited by North co-co champs at 20:17:15 on 05/20/20
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OT: Rams going Bankrupt? Part III - North co-co champs MU - 5/20 20:16:16
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