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Photo courtesy of Wikimedia

Sports Business Rundown: Rams Receive $2 Million Reimbursement



Photo courtesy of Wikimedia
The Edward Jones Dome | Photo courtesy of Wikimedia Commons” credit=” 

The St. Louis Convention and Visitors Commission (CVC) issued a $2 million check to the St. Louis Rams to cover legal fees and other costs after going to arbitration over upgrades to the Edward Jones Dome.

The two parties wound up in arbitration because they couldn’t reach an agreement over upgrades intended to make the dome a top-tier facility in the National Football League, which was stipulated in the team’s original lease in 1995.

In mid-February, the Rams filed a reimbursement request for $3.42 million. The CVC countered with a request that did not exceed $787,398. Arbitrators ruled that the Rams were owed $2 million.

Mizzou Golf Course to Bear Walsworth Name

The Club at Old Hawthorne | Photo from oldhawthorne.com
The Club at Old Hawthorne | Photo from oldhawthorne.com” credit=” 

Don Walsworth, a University of Missouri graduate and former MU curator, made an $8.3 million donation to the school, earning the CEO of the Marceline-based Walsworth Publishing Company naming rights to the university’s golf complex. The Board of Curators came to a unanimous decision to call the facility Walsworth Family Golf Complex, a part of the Club at Old Hawthorne.

The Walsworth family has previously made donations to benefit Memorial Stadium, and a plaza outside of Mizzou Arena is named for the family.

Number of the Week: $12.8 million

The St. Louis Rams signed first-round pick Tavon Austin to a four-year, $12.8 million contract. Along with the four-year deal, Austin received a $7.7 million signing bonus.

With the signing of Austin, the Rams have signed all of their draft picks, including another first-round pick, Alec Ogletree.

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Recommended Read

In the 2010-11 academic year, students attending the 227 public schools that are in Division I of the National Collegiate Athletic Association paid more than $2 billion in athletic fees, resulting in a per-student fee of more than $500, according to research by Jeff Smith of the University of South Carolina Upstate. These fees commonly are listed as “student activity” or “general” expenses. According to research from David Ridpath of Ohio University, students are only slightly aware of these fees. 

Bloomberg’s Richard Vedder has more in his story, “How Poor Students Subsidize Unworthy College Sports.”

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