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Thursday, June 13, 2024
Law

NFL Owners Tussle Over $790M Rams Settlement

  • League owners will meet to discuss who is responsible for paying a $790 million settlement related to the Rams move to Los Angeles.
  • Other team owners were not expecting to have to pay anything related to the move.
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Kirby Lee-USA TODAY Sports

NFL owners are in a standoff over who is responsible for paying a $790 million settlement.

The charge comes from a settlement with the state of Missouri over a lawsuit regarding the Rams’ move from St. Louis to Los Angeles in 2016.

  • Rams owner Stan Kroenke previously agreed to pay for legal expenses related to the move. 
  • Kroenke is now arguing that his promise was to cover legal fees, not settlement funds.
  • Owners will vote on who will pay at the upcoming owners’ meetings on Tuesday in New York.

Missouri has already received its funds from the NFL, which totaled $513 million after attorney’s fees. In June, officials voted to move the money from low- or no-interest funds to high-interest ones.

Angry Owners

The Athletic reported in May that the NFL garnished $7.5 million from each of the other 31 teams — a total of $232.5 million — to help cover expenses related to the move. Many owners were reportedly angered by the move.

Kroenke had agreed to indemnify other owners, many of whom were not expecting to pay anything related to the move.

He has argued that his efforts to build a stadium and fanbase in Los Angeles, as well as his willingness to take on the Los Angeles Chargers as tenants after their move from San Diego in 2017, should be factored into the negotiations.

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