NFL reportedly raising debt limit on Rams stadium after L.A. project nears $5B price tag
That's billion with a big, old capital B
The Los Angeles Rams are currently engaging in one of the more aggressive construction builds in modern sports history, out in Inglewood, California.
The NFL also recently announced it would be moving its NFL Media headquarters to the facility, and rumblings persist about the combine being shipped out of Indianapolis to Los Angeles. In short, this facility is not going to be just a stadium: it's going to a complex and headquarters for a billion-dollar industry.
The price tag for that HQ is skyrocketing, according to a report from Seth Wickersham of ESPN. Wickersham reported that the NFL owners are expected to vote at the owners meetings in Florida to raise the debt limit for the stadium, thanks in large part to the price tag having risen almost to an absurd $5 billion.
That is a substantial amount of money. When you go to the NFL owners meetings you quickly realize just how much wealthier billionaires are than everyone else. Millionaires are rich, but billionaires live in a totally different stratosphere.
And the Rams are building something where they've got crank up the allowed debt level for a stadium because the stadium costs too much for several billionaires. It's really quite something.
Everyone involved in the project would love to get the stadium done quickly. Owner Stan Kroenke wasduring their incredible 2017 season. And the NFL has to be a little concerned about of unforeseen construction delays.
But in the end, when this thing opens, it's going to be unlike anything we've ever seen. It better be, given that it's going to probably end up costing more than $5 billion once you start to factor in any additional costs.
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