The St. Louis Rams released a statement regarding the purchase of a 60-acre parking lot located in Inglewood, California by team owner Stan Kroenke:
“As real estate developers, the Kroenke Organizations are involved in numerous real estate deals across the country and North America. While we can confirm media reports that we recently purchased land in Inglewood, as a private company we don’t typically discuss our plans for commercial or residential investments. We have yet to decide what we are going to do with the property but we will look at all options, as we do with all of our properties.“
NFL commissioner Roger Goodell told reporters on Friday that Rams owner Stan Kroenke informed the league of his decision to purchase a 60-acre parking lot located in Inglewood, California and has not mentioned any plans of stadium development on the property, per Jason La Canfora.
- Goodell warned against “overreacting” to the news.
Sam Farmer of the Los Angeles Times reports sources have informed him that St. Louis Rams owner Stan Kroenke has purchased a 60-acre parking lot located in Inglewood, California that could be used for an NFL stadium.
According to Farmer, Madison Square Garden Co., who already owns the Forum, had their eyes set on the plot of land and were reportedly prepared to pay an estimated $90 million for it. However, MSG was later informed that the land had been sold to an unnamed party at the end of 2012.
Farmer’s sources confirmed that the buyer is in fact Rams owner Stan Kroenke.
The St. Louis Rams have neither confirmed nor denied the purchase and would offer a comment on the matter at this point in time.
Farmer adds that 60 acres may not be enough land for a stadium, and it’s worth noting that Kroenke owns more land in Southern California, so it’s hard to say that this alone is an indication of his plans to relocate the team.
Still, the Rams have continually come up as a candidate that could be relocated to the second largest market in the United States. This is in large part due to the lack of progress towards a new stadium deal that would keep them in St. Louis beyond 2014 when their current contract runs out.
NFL owners have been using a potential move to L.A. as a huge bargaining chip for sometime now, but it appears as though the Rams are prepared to up their leverage in negotiations regarding upgrades for the Edward Jones Dome. The Rams are reportedly seeking as much as $700 million for upgrades.
Farmer points out that there are some obstacles in place that could prevent them from leaving for Los Angeles.
- Should they decide to leave St. Louis, the Rams would have created a “lame-duck situation” that would likely lead to a massive decline in ticket sales and overall interest.
- Plus, the Rams would have satisfy the NFL’s relocation guidelines that require a “good-faith negotiation” with both the city of St. Louis and the state of Missouri.
- It would need to be put to a vote by the NFL owners, which requires a “three-quarters majority vote.“
- They would also have to content with the two stadium proposals being considered in Los Angeles area.
There is still a long ways to go before anything could be considered likely in regards to a team like the Rams possibly relocating. However, Rams ownership hasn’t exactly have offered many positive indications that they intend to do everything within their power to keep the team in St. Louis.
I’m sure we’ll be hearing more about this topic throughout the offseason and in the coming years.