St. Louis CVC pays $2 million to Rams; team could move in 2015
The St. Louis Convention and Visitors Commission confirmed on Tuesday that they paid the Rams $2 million for the team's legal fees stemming from a February stadium arbitration case.
In April, that same arbitration panel ruled that the St. Louis CVC must pay the Rams $2 million to cover the team's legal fees. On Tuesday, the CVC confirmed that they've paid the Rams the $2 million stemming from the arbitration case.
What all this means is that if they decided to, the Rams could potentially leave St. Louis as soon as March of 2015 when their 30-year lease at the Edward Jones Dome becomes a year-to-year lease.
Under terms of the Rams' 30-year lease agreement signed in 1995, the team can get out of the lease 10 years early if the Edward Jones Dome isn't deemed to be in the top 25 percent of NFL stadiums, meaning the Rams would have to have one of the top eight stadiums in the league.
Both the Rams and the St. Louis CVC proposed renovation plans. However, the Rams' plan cost slightly more -- actually a lot more. The Rams' renovation plan -- which would have cost at least $700 million, according to the St. Louis Post-Dispatch -- included the installation of a new sliding roof and a glass wall similar to the one the Colts have at Lucas Oil Field.
The St. Louis CVC's renovation plan included a new scoreboard and would have only cost about $124 million.
The stadium arbitration panel sided with the Rams' renovation plan in February, which led to the Rams lease becoming year-to-year in 2015 and the $2 million payment from the St. Louis CVC to the Rams.
The Rams won't be getting out of their lease before March 2015, but after that, it's anyone's guess.
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