LIVE VIDEO: NewsChannel 5 at Five    Watch
 

CVC to decide whether to accept the Rams' $700 million deal

9:17 PM, Feb 4, 2013   |    comments
  • Share
  • Print
  • - A A A +

ST. LOUIS (KSDK) - In less than a month the Convention and Visitors Commission will have to decide whether to accept the Rams' $700 million proposal to renovate the Edward Jones Dome.

A group of arbitrators ruled in favor of the team on Friday, meaning the taxpayers might help foot the bill.

One expert says it's nothing but good news for the team and its owner.

The decision on whether to accept the deal is now in the CVC's hands, and Ray Hartmann of St. Louis magazine says Rams owner Stan Kroenke holds all the cards.

"Kroenke is a free agent, as they say in sports, and can move the team to the highest bidding city," said Hartmann.

Hartmann is a Rams' season ticket holder and doesn't want to see the team leave, but says the decision is strictly business.

When the Edward Jones Dome was built back in 1995 it was completely paid for with public money, which is not unusual. Ten other teams in the league also have facilities that are completely funded by the public.

Only four teams didn't use any public money.

Webster University sports economics professor Patrick Rishe says a deal like we saw in 1995 will never happen again in Missouri.

"To think that 125 million dollars to fix the boo-boo that is the Edward Jones Dome, think again. But on the other end 750 million dollars is far more money than this city, its citizens, its taxpayers are willing to pay," said Rishe.

Rishe says if a deal isn't met between the Rams and the CVC, the rams may be gone after the 2014-2015 season.

KSDK

Most Watched Videos