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Stan Kroenke buys 60 acres in L.A.
ABC News ^ | January 31, 2014 | NICK WAGONER via ESPN

Posted on 01/31/2014 7:24:47 AM PST by Uncle Chip

ST. LOUIS -- According to reports in the Los Angeles Times and the St. Louis Post-Dispatch, St. Louis Rams owner Stan Kroenke, by way of an affiliated holding company, recently purchased a 60-acre tract of land in Inglewood, Calif.

The reports indicate that the land is located between the Forum and Hollywood Park and could serve as a possible spot for development of a new NFL stadium according to the Times' sources.

Kroenke has made much of his fortune by way of land development and has long owned large amounts of land in California and elsewhere. Whether this move is simply adding to his land or being used for other means related to his football team remains to be seen.

What is known is that a clause in the Rams' lease at the Edward Jones Dome in St. Louis is set to kick in at the end of the 2014 season. So long as the stadium hasn't been upgraded to one of the eight best venues in the NFL before that time, the Rams' lease will then become a year-to-year proposition beginning in 2015.

Discussions about how to bring the current stadium up to that standard have been ongoing for the past couple of years but no resolution was reached.

In 2012, the St. Louis Convention and Visitors Commission proposed a $124 million upgrade to help the Edward Jones Dome reach the "first tier" standard.

The Rams countered with a more elaborate proposal which was estimated to cost somewhere in the range of $700 million.

In February of last year, an arbitrator heard both proposals and ruled in favor of the Rams. Soon after, the commission made it clear it does not intend to follow through with the plan, meaning the lease will almost certainly expire after next season.....

(Excerpt) Read more at abcnews.go.com ...


TOPICS: Business/Economy; Sports
KEYWORDS: rams
Los Angeles has been without a professional football franchise since the Rams and Raiders departed for St. Louis and Oakland, respectively, in 1995.
1 posted on 01/31/2014 7:24:48 AM PST by Uncle Chip
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To: Uncle Chip

What is the future of Hollywood Park? It recently ended a long run of hosting thoroughbred racing.


2 posted on 01/31/2014 7:33:05 AM PST by ConservativeStatement ("World Peace 1.20.09.")
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To: Uncle Chip

Unnngh.

3 posted on 01/31/2014 7:37:55 AM PST by martin_fierro (< |:)~)
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To: martin_fierro

It’s going to happen, and they should be pretty good by the time they make the move.


4 posted on 01/31/2014 7:38:37 AM PST by dfwgator
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To: ConservativeStatement

My understanding is that Hollywood Park is set to become condominiums and residential.


5 posted on 01/31/2014 7:38:43 AM PST by Uncle Chip
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To: Uncle Chip

Madame Ram must be spinning in her grave. That old floozie sure was a piece of work.


6 posted on 01/31/2014 7:41:36 AM PST by SoCal Pubbie
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To: dfwgator

Yep —

The Rams will go full circle more than likely to land not far from the Coliseum.

There appears to be no interest in St Louis in meeting the Rams’ demands for upgrading the stadium at the cost of $700M.


7 posted on 01/31/2014 7:46:43 AM PST by Uncle Chip
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To: Uncle Chip

Of course they could always move back to Cleveland, they’ve been waiting for an NFL team for the last 17 years. (That’s a joke, son)


8 posted on 01/31/2014 7:48:59 AM PST by dfwgator
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To: dfwgator

The scuttlebut is if the Rams go to LA, then St Louis will try to bring in the Jax Jaguars.


9 posted on 01/31/2014 7:54:34 AM PST by Uncle Chip
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To: Uncle Chip

Why? St Louis is a baseball town, always will be.


10 posted on 01/31/2014 7:56:05 AM PST by dfwgator
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To: Uncle Chip

“The Rams countered with a more elaborate proposal which was estimated to cost somewhere in the range of $700 million” For that price, they ought to be able to demolish the old one and build from scratch. Atlanta’s going to run over a $billion, but that includes buying off a couple of black churches so it could be built in the ‘hood. And Jerryworld went that high because they had to build it big enough to hold his ego.


11 posted on 01/31/2014 7:57:07 AM PST by PAR35
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To: Uncle Chip

Good for St. Louis!
Here in Indiana we got suckered into a $750m deal for the Irsays.
And we’re still paying on the bonds from the stadium they tore down to build the new one....

Putting a team in LA does take away the big threat the NFL always uses on other cities...not sure if they will be willing to give it up.


12 posted on 01/31/2014 7:57:32 AM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: Uncle Chip

...has a nice ring to it...

...don't you think?

13 posted on 01/31/2014 7:59:29 AM PST by RckyRaCoCo (Shall Not Be Infringed)
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To: Uncle Chip

I thought the Jags were going to London. Although Jacksonville taxpayers are building a new swimming pool for the team owner.


14 posted on 01/31/2014 7:59:31 AM PST by PAR35
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To: PAR35

What’s interesting is that businesses, hotels, restaurants down around the stadium say that they make more money from events they hold at the stadium when the Rams are out of town.

They won’t miss them.


15 posted on 01/31/2014 8:03:54 AM PST by Uncle Chip
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16 posted on 01/31/2014 8:06:06 AM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: Uncle Chip

I think I saw somewhere that the this proposed development straddles a major fault line.


17 posted on 01/31/2014 8:06:16 AM PST by WinMod70
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To: Uncle Chip

I think it takes about 40 acres for a modern stadium foot print with circulation drives. Parking is another matter.

Unless the site is in a blighted area where the stadium developer could get the local government to condemn and purchase another 300 to 500 acres for parking for 40,000 cars and 3000 employees, this is not enough land in my opinion. Even adding five story parking garages would result in another 100 acres on top of the twenty left over in the original 60.


18 posted on 01/31/2014 8:07:54 AM PST by KC Burke (Officially since Memorial Day they are the Gimmie-crat Party.ha)
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To: dfwgator

What strange leases do these teams have? The lease in St. Louis requires them to be an upper tier facility, based on whatever criteria are listed to keep it a top facility? For the numbers listed, they may as well build a new stadium.

Can someone explain how it is that the public is expected to build billion dollar stadiums for profitable NFL franchises? Is the prestige of having an NFL franchise that great, that public officials negotiate agreements to subsidize NFL teams to such a degree?????


19 posted on 01/31/2014 8:33:59 AM PST by Dilbert San Diego
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To: KC Burke

Is it possible that Kroenke has an option to buy a large part of Hollywood Park to supplement this purchase.


20 posted on 01/31/2014 8:43:56 AM PST by Uncle Chip
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To: dfwgator
Of course they could always move back to Cleveland, they’ve been waiting for an NFL team for the last 17 years. (That’s a joke, son)

I was thinking the same thing, actually. The 1945 Cleveland Rams were NFL champions, then moved to LA the very next season!

Keeping my fingers crossed for Johnny Football to be available at #4 in the draft for the Browns.

21 posted on 01/31/2014 8:58:33 AM PST by IndyTiger
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To: KC Burke

One thing to consider is there is already a parking lot at the location, used by The Forum (seating 17,000), and the former Hollywood Park (capacity 60,000+). Not sure how much of the parking lot will be developed when Hollypark is torn down, but that could be a possibility. Personally, I think when they tear down the race track, there will be plenty of land available, without building on too much of the lot. Thanks.


22 posted on 01/31/2014 9:08:43 AM PST by jttpwalsh
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To: IndyTiger

I don’t think Johnny Football will be a very good NFL QB. The kid has terrible mechanics along with weak arm strength.
Like Tebow he is a great college QB, and like Tebow I don’t think his game will translate very well to the NFL. The Browns would be better off drafting a guy like AJ McCarron or the kid from Fresno St Derek Carr. Both of whom should be available when your pick comes up.


23 posted on 01/31/2014 9:22:51 AM PST by sean327 (God created all men equal, then some become Marines!)
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To: Uncle Chip

Why on earth does LA need an NFL team? We already have two great football teams—the Occidental College Tigers and the USC Trojans.


24 posted on 01/31/2014 10:26:49 AM PST by Fiji Hill
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To: Uncle Chip

How much does 60 acres of land cost?


25 posted on 01/31/2014 10:44:17 AM PST by minnesota_bound
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To: Fiji Hill

Did you deliberately forget the UCLA Bruins or was that just occidental???


26 posted on 01/31/2014 10:52:11 AM PST by Uncle Chip
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To: Uncle Chip

UCLA plays in Pasadena


27 posted on 01/31/2014 1:42:48 PM PST by markman46 (engage brain before using keyboard!!!)
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To: markman46

UCLA is in LA — hence UC LA.


28 posted on 01/31/2014 1:54:50 PM PST by Uncle Chip
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