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Monday, June 24, 2024

Rams Plan New HQ After Owner Buys $325M L.A. Property

  • The facility could be surrounded by a commerce area, which may include hotels.
  • Costs associated with the development could reach at least $1 billion.
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Kirby Lee-USA TODAY Sports

The owner of the Los Angeles Rams has purchased another piece of real estate, which will serve as the location of a new team headquarters and practice fields. 

Stan Kroenke — whose net worth is $12.9 billion, per Forbes — has purchased an outdoor shopping mall in the Woodland Hills neighborhood of Los Angeles for $325 million

Kroenke’s latest real estate investment follows his purchase of an indoor mall in March for $150 million and a building in June next to a plot of land he already owns for $175 million.  

  • Kroenke plans to turn one of his new properties into a 34-acre practice field and team headquarters.
  • The facility could be surrounded by a commerce area, which may include hotels.
  • Costs associated with the development could reach at least $1 billion.
  • Kroenke also owns the Denver Nuggets, Colorado Avalanche, Colorado Rapids, and Arsenal.

A new team headquarters for the Rams comes after Kroenke opened SoFi Stadium in September 2020. The $5 billion stadium — which is also home to the Los Angeles Chargers — is the NFL’s largest venue.

Costly Move 

In October, NFL owners unanimously voted to approve a plan for Kroenke to cover the majority of costs associated with an $820 million settlement regarding the Rams’ move from St. Louis in 2016.

Stan-Kroenke-Los-Angeles-Rams

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