4 days ago
When Rams owner Stan Kroenke got approved to move his franchise from St. Louis to Los Angeles, the new stadium he planned to build for his team in Inglewood was slated to cost $2.3 billion.
At the time, that would have been the most expensive stadium in U.S. sports, according to the Sports Business Journal.
Looking back, that price seems like a bargain, as costs for the Rams new stadium—which will also be the home of the Los Angeles Chargers—have already ballooned to more than $4 billion, a price that is more than double that of any other sports stadium in the United States.
Now estimated at $4.25 billion, the stadium’s price has risen, at least partially, by added construction costs to ensure the new home of the Rams can withstand an earthquake. The cost of building access roads and utilities charges have also added to the price.
At this point, Kroenke has sunk $1.6 billion of his own money into the project, with an additional $400 million from the NFL’s stadium financing fund and $2.25 billion in bank loans.
The stadium’s opening has also been delayed a year due to weather issues and it is now set to debut at the beginning of the 2020 season.Read the full story at Shutdown Corner