NFL owners will meet and vote on increasing the debt limit for the Los Angeles Rams’ new stadium. The project will now cost about $4.963 billion, according to ESPN‘s Seth Wickersham, who studied internal league documents.
Today NFL team owners will vote to increase the debt limit for the Rams new stadium, which according to internal league documents is now projected to cost an amazing $4.963 billion.
— Seth Wickersham (@SethWickersham) March 27, 2018
The new stadium was projected to cost about $2.6 billion. It will occupy land in Inglewood, including 300 acres for retail space, office space, a hotel, and some other modern ideas. As the most expensive NFL stadium, it’s coming with a bunch of perks we’ve never seen before. However, this is due to it being privately financed, which I’m sure taxpayers in California are happy about.
— Kevin Seifert (@SeifertESPN) March 27, 2018
Earlier this month, the Rams announced the best seats will go for $100,000 for Rams season-ticket holders and $75,000 for Chargers season-ticket holders. The licensing bill program provides a 50-year deposit that will help fund the stadium’s construction. After the 50 years, the original stadium seat license cost will be returned to whoever owns it. Every seat in the stadium will have a licensing bill attached to it.
The stadium seats about 70,000 fans and is expected to be ready for the 2020 season. The NFL also named it the site for the Super Bowl in 2022.
The stadium was expected to be ready for the 2019 season, but construction was halted due to a rainy winter around the time they broke ground.
[via Sports Illustrated]