Revised stadium funding plan faces key St. Louis committee hearing

A rendering shows a view of the proposed St. Louis football stadium looking north from the stadium's interior. | Courtesy of HOK
A rendering shows a view of the proposed St. Louis football stadium looking north from the stadium’s interior. | Courtesy of HOK Sports

The St. Louis Board of Aldermen’s Ways and Means Committee will hear a revised plan for the city’s proposed riverfront football stadium Thursday in what’s viewed as a critical hearing in an effort to keep the Rams from leaving town.

The committee must approve the plan for the approximately $1 billion stadium before it can be sent to the entire Board of Aldermen for a vote. A Dec. 30 deadline looms for St. Louis, Oakland and San Diego — who all hope to avoid losing teams to the Los Angeles area — to submit detailed stadium proposals to the NFL.

Though city approval of financing for the stadium project is no guarantee that St. Louis will keep the Rams, it could make it more difficult for Rams owner Stan Kroenke to win approval from fellow owners for his plan to move the team to the Los Angeles area.

The revised funding plan includes scrapping the use of a naming rights deal as collateral for $75 million worth of bonds for the stadium. Instead, St. Louis’ Regional Convention and Sports Complex Authority would issue $80 million worth of bonds backed by the state’s credit rating. The facility’s events-related taxes would be used to help pay back that debt.

Read more from St. Louis Public Radio and the St. Louis Business Journal


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