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Started By
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Rams new stadium costs pass $4 billion, more than double any other U.S. stadium
Posted on 5/17/18 at 10:10 am
Posted on 5/17/18 at 10:10 am
quote:
This new Los Angeles Rams stadium better be good.
We know it will be expensive, to a record level. Sports Business Journal reported that costs for the new stadium in Inglewood have passed $4 billion. You read that right.
Stadium costs have gone way up through the years, but no other stadium in the United States has come anywhere close to this. SBJ said the most expensive stadium previous to this was MetLife Stadium in New Jersey, and that cost $1.7 billion. The Raiders’ new stadium in Las Vegas is expected to cost more than $2 billion. That’s still less than half of what the Rams stadium, which will also be used by the Los Angeles Chargers, will cost.
Cost keeps rising
When Rams owner Stan Kroenke first got approval to move his team from St. Louis to Los Angeles, his proposed stadium was slated to cost $2.3 billion, SBJ said. That would have been the most expensive stadium in U.S. sports. About $2 billion has been added onto the cost since then.
In March, the Los Angeles Times reported the price had crept to about $3 billion. Sports Business Journal said the price is now an estimated $4.25 billion. SBJ cited sources that were involved in a bank meeting on May 4 to arrange a $2.25 billion loan.
LINK
14
Posted on 5/17/18 at 10:12 am to SPEEDY
Private or tax dollars?
Posted on 5/17/18 at 10:13 am to TH03
quote:
Private or tax dollars?
quote:
SBJ broke down the investment in the stadium as $2.25 billion for various banks, $1.6 billion for Kroenke and $400 million from the NFL’s stadium financing fund. The Chargers will also pay off a portion of the debt costs, SBJ said.
Kroenke’s investment “is unprecedented,” a banker told Sports Business Journal.
SBJ explained how the Rams will pay down the debt — they’ll use the bank credit as construction advances, and use personal seat license fees to pay down the debt — but SBJ said the interest alone could be more than $50 million a year.
Posted on 5/17/18 at 10:13 am to SPEEDY
quote:
pass $4 billion
quote:
was slated to cost $2.3 billion,
how does one become 2 billion off their estimates?
Posted on 5/17/18 at 10:14 am to SPEEDY
At least they'll have fan support
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Posted on 5/17/18 at 10:14 am to SPEEDY
WTF are they building inside? Golden toilets?
Like seriously is it all fricking glass and eco friends like Apple's Spaceship is Palo Alto?
Like seriously is it all fricking glass and eco friends like Apple's Spaceship is Palo Alto?
Posted on 5/17/18 at 10:14 am to SPEEDY
quote:
SBJ cited sources that were involved in a bank meeting on May 4 to arrange a $2.25 billion loan.
Fuuuuuck that loan
Posted on 5/17/18 at 10:15 am to Chad504boy
Must have been the same people who planned the Bourbon St revamp project.
Posted on 5/17/18 at 10:16 am to Chad504boy
California
Posted on 5/17/18 at 10:16 am to SprintFun
quote:
Fuuuuuck that loan
quote:
the interest alone could be more than $50 million a year.
Posted on 5/17/18 at 10:17 am to SPEEDY
If they don't take any tax dollars, I don't have a problem with it. But $4 billion is crazy. Tickets, parking, and concessions are going to be stupid.
Posted on 5/17/18 at 10:18 am to 50_Tiger
quote:It's too early to be this drunk
Like seriously is it all fricking glass and eco friends like Apple's Spaceship is Palo Alto?
Posted on 5/17/18 at 10:20 am to ReauxlTide222
Good Job NFL. NFL was a dying breed not being in LA all these past couple decades.
Posted on 5/17/18 at 10:21 am to 50_Tiger
Cupertino, but close.
Posted on 5/17/18 at 10:21 am to SPEEDY
quote:
$1.6 billion for Kroenke
Poor arsenal fans. The transfer window is looking bleak
Posted on 5/17/18 at 10:27 am to SPEEDY
Not surprising. The renovation of the Coliseum is going to cost $300 and is basically just replacing seats and putting in some ugly sky boxes. The new USC Village which is basically dorms and stores was $700M. Building in LA is expensive as shite even in relatively open, crappy areas.
Posted on 5/17/18 at 10:27 am to TH03
quote:
Tickets, parking, and concessions are going to be stupid.
Yep
LINK
quote:
For the Rams, the most expensive seat license will cost $100,000. Although most seats in the stadium will require a seat license, the two teams are only selling licenses right now for 13,000 premium seats.
Of those seats 13,000 seats, 500 of them will be all-access seats, 2,500 of them will be VIP seats and the other 10,000 will be club seats. For the Rams, the all-access seats will require a seat license fee of $100,000, while that number will be just $75,000 for the Chargers.
The Rams will sell seat licenses in the VIP area for $80,000, while that number will be just $50,000 for the Chargers. With the club seats, the Rams will sell the licenses in that area for somewhere between $15,000 and $35,000. Meanwhile, the Chargers will sell seat licenses in that same area for $10,000 to $25,000.
Once you buy the license in one of the premium areas, all season tickets will cost the same amount at $375 for Rams games and $350 for Chargers games. The cheapest seat licenses will sell for around $1,000 for the Rams, although prices in that range haven't yet been finalized, according to the team.
So you pay $100k for the seat license, just for the right to buy $375 tickets for each game.
Posted on 5/17/18 at 10:31 am to Tiger Prawn
quote:
So you pay $100k for the seat license, just for the right to buy $375 tickets for each game.
Going to be basically 100% corporate tickets
Posted on 5/17/18 at 10:36 am to usc6158
Pretty much.
frick the NFL.
frick the NFL.
Posted on 5/17/18 at 10:37 am to usc6158
quote:
Building in LA is expensive as shite even in relatively open, crappy areas.
This...its the location that is driving the costs.
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