Aldermen set to vote on stadium; how much money will the NFL off - KMOV.com

Aldermen set to vote on stadium; how much money will the NFL offer?

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ST. LOUIS, Mo. (KMOV.com) -

On the eve of the final St. Louis Board of Aldermen vote on financing for a proposed NFL stadium, questions are being raised as to how much money the NFL will sink into the project.

Thursday, the NFL sent a letter to the stadium task force saying it would not commit to $300 million towards a new stadium without approval from 3/4 of the NFL owners.  The NFL usually pours $200 million into a new stadium.

An amended bill with that $300 million amount was given initial approval by the Board of Aldermen Tuesday. Board President Lewis Reed said the $300 million is critical to the deal.

“The voters are there and what this does is Keep St. Louis in the running. It gives the NFL an opportunity to select St. Louis as a host city,” said Reed. “It doesn’t matter to me if it’s the Rams or another team.”

St. Louis Comptroller Darlene Green is opposed to the deal saying it will fall short of generating the revenue needed to pay off stadium debt. 

Alderwoman Christine Ingrassia said she believes the city should not be spending money on a stadium and should be focusing on fighting crime and poverty instead.

Copyright 2015 KMOV (Meredith Corporation). All rights reserved.

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