Reports: NFL to approve Stan Kroenke debt to pay St. Louis settlement
Final approval from the NFL for Rams owner Stan Kroenke’s $571 million to settle a relocation lawsuit with St. Louis is expected from the league on Tuesday, per multiple reports.
Kroenke owes St. Louis the balance of what was a $790 million settlement for moving the team to Los Angeles. The NFL collectively contributed $219 million, leaving Kroenke to pay the rest only after owners waive the limit in place on allowable debt for owners.
The final approval is expected at the NFL owners’ quarterly meeting Tuesday in New York.
A settlement was first reached last year, more than four years after the lawsuit originated. The NFL pushed for the agreement in part due to a decision from the judge ruling financial information and records of all NFL owners could be included.
The Rams won the Super Bowl in February and have largely been a success in Los Angeles under head coach Sean McVay.
After 21 years in St. Louis, Kroenke moved the Rams to Los Angeles and the NFL supported the move, helping fund a stadium project that cost more than $1.6 billion in Inglewood, Calif. The Rams and Los Angeles Chargers, who fled San Diego in 2017, are co-tenants at SoFi Stadium, which also houses NFL and NFL media offices.
–Field Level Media
