[OldSchool]

I believe the lease is 30 years but the payments on the stadium are 35 years.

That's my understanding too, which puts the city in the same situation the EJD did.

[Rams the Legends live on]

I can't help but laughing when I read these St Louis peoples comments about the current ratio of funding and the differences in opinion. For example just one of them I read:

A huge issue? When the negotiations haven't even started? What is it about an initial offer as a prelude to negotiation that is so hard to understand? There are other revenues streams that the city could turn over to team ownership that could be negotiated. For example, naming rights to areas within and outside on the stadium grounds, surcharges on tickets, etc? The permutations are literally endless.

These are the same people I'm sure that will say the Rams counter proposal was so ludicrous that there was no point to negotiate. Yet when Peacock comes up with a plan that is ludicrous enough to include a bunch of the Rams/NFL's money and call it the cities that's just a negotiating point.

These same people will also claim Stan wanted the CVC to pay for it all. Ummmm did they negotiate that or just make the assumption and walk away from the table breaching the contract?

Just gotta laugh at the homer blinders

The honest fact for STL is they have been broke since day one when they acquired the Rams. The CVC breached the contract right away they were unable to make a contract appointed payment to the Rams. So the attorneys for the CVC whom Blitz was amongst they approached the Rams and explained how they were gonna sue the NFL and if the Rams would forgive the default they would split the settlement. Seeing how the split would have netted the Rams more money than the default Shaw said yes.

So they sued the NFL for unfair practices claiming that the NFL prohibited them from having teams bid on the stadium so it placed them in a bad position of having to offer terms for the Dome that was unfair for the city. Of course the ruling went against them.

However we can see from the start they were aware the terms would be problematic as they were cash strapped. Even over the years as the comptroller did audits of the CVC and the Dome she found questionable practices with the issuing of tickets, comped food and no notice given to other state organizations when it appeared they needed to report what could have been a possible gift given that could be defined of a political nature. The CVC said they no longer had the records are never really kept them so no further look in was done. They were also admonished for using money earmarked for other ventures of the Dome to make a payment to the Rams.

Of course we all know of the arbitration. Fact is Stan figured out long ago finances is always gonna be a problem for them until it is not. Which looks to be a problem they are not at all to concerned about. As their rating was dropped from the amount of debt they have taken on and yet they still look to take on more. The real villain here is the recipient who was advantaged by the votes they cast in elections. However to find fault as such would leave the finger pointing at the individuals of the area.

So instead of doing a self analysis and recognizing the root cause of the problem it is much easier to buy into the narrative of the big bad overlord and see ones self as a victim. Then hitch your wagon to the white horse of the messiah Peacock and buy into the belief he is gonna lead these down trodden victims into the promised land.

For them to protest Stan and say he has no right to leave. I find as hypocrisy as I wonder how many times they join as a community to march and protest the local McDonald's when it removes a item from it's menu due to lack of sales and the cost of product stock. Fact is for something to stay on a menu and shelves it has to have supporting sales to do so. Then when ya couple it with a partner who has no cash to match yours for the equity value what person would ever want to continue to be yoked with that partner. One must always be careful what they wish for as they just might get it. The folks who make use of ones voice and clambering turned this into a advantage for their self appointed agenda. One thing is for sure there is no free lunch and STL still looks for their messiah to prove otherwise. Good luck is all I can say.

[The Ripper]

Great post

[Hacksaw]

Great post

Ditto.

Good stuff about the default. The NFL has known for years. The are pulling the Rams out.

[OldSchool]

Absolutely agree!

[TSFH Fan]

I believe the lease is 30 years but the payments on the stadium are 35 years.

That's my understanding too, which puts the city in the same situation the EJD did.

Me, personally, I'm going to go with a 35 year lease for now. Basically, the term appears to be the longer of either: (1) the time it takes to pay off the bonds; or (2) 30 years. So if we're talking about 35 years to pay off the bonds, it's a 35 year lease -- and there's those 35 year Exhibit C payment schedules.

Here's lease term-related language from Board Bill 219:
http://nextstl.com/2015/10/board-bill-2 ... agreement/

and a National Football League (“NFL”) franchise (the “NFL Team”) is expected to enter into a lease, sublease or other binding commitment with the Authority to play NFL football games in the Project for a term not shorter than 30 years or the term of any bonds secured by City payments (whichever is longer)

(b) The NFL Team signs a lease, sublease or other binding commitment (the “NFL Team Lease”) to play NFL football games in the sports facility constructed as part of the Project for a term of not less than 30 years or the term of the Project Bonds, whichever is longer

This is from the St. Louis Riverfront Stadium Project Financing, Construction and Lease Agreement:
http://mediad.publicbroadcasting.net/p/ ... t_a__0.pdf
The schedules, which seem to be 35 years, are at pages 51-52.

(b) The NFL Team signs a lease, sublease or other binding commitment (the “NFL 
Team Lease”) to play NFL football games in the sports facility constructed as part of the Project 
for a term of not less than 30 years or the term of the Project Bonds, whichever is longer;

[TSFH Fan]

Oh, hey, if you can't make those public hearings over there in Eastern Missouri, you can contact the President of the Board of Alderman at [email protected]