St. Louis City, County and RSA reach agreement on splitting Rams settlement funds
ST. LOUIS, Mo. (KMOV) - St. Louis City, St. Louis County and the Regional Sports Authority (RSA) have agreed how to split the money that was gained from a lawsuit settlement pertaining to the Rams relocation.
In 2017 the city, county and RSA sued over the Rams’ relocation. Stan Kroenke and the NFL opted to avoid going to trial and settled in November 2021 for $790 million. After lawyer fees, the St. Louis region was left with around $513 million.
For months News 4 Investigates has been trying to get answers from St. Louis Mayor Tishaura Jones, St. Louis County Executive Dr. Sam Page, and RSA leaders regarding the money’s status. Earlier this year, the St. Louis Board of Aldermen called for an investigation into the rams settlement money to ensure the funds would serve the citizens of St. Louis best.
Tuesday night, Jones’ office announced that as of January 2023, St. Louis City would receive $250 million plus an additional $30 million on contingency, St. Louis County would receive $169 million and the RSA would receive $70 million.
The St. Louis Board of Aldermen will have until June 30 to decide whether to appropriate the $30 million contingency funds to the convention center expansion project. If the Board of Aldermen does not appropriate those funds to the expansion project in time, the city would then agree that the RSA is entitled to receive the money no later than July 31.
The full board of the RSA still must approve the deal.
Following the announcement from Mayor Jones’ office, Greater St. Louis, Inc. CEO Jason Hall issued the following statement:
“On behalf of businesses, organizations, and institutions that employ more than 200,000 people in the St. Louis metro area, we urge the City, County, and RSA to steward and invest these once-in-a-lifetime funds to grow the St. Louis economy for generations to come with a boldness that transcends jurisdictional boundaries and drives inclusive growth across the metro.
“We continue to believe that the three national models outlined in our recent white paper offer the best potential pathways to maximize the transformative potential of these one-time settlement proceeds. These funds should be deployed in an intentional and strategic manner to drive inclusive and catalytic growth in the metro. Based on national best practices, the use of one-time settlement funds should be based on a transparent process, clear and specific goals, sound fiduciary governance, accountability, and oversight.”
Earl E. Nance Jr., the chairman for the RSA, told News 4 they are thrilled to reach a decision after months of negotiations with the city and county.
“Of course we asked for more, we would’ve liked more, but it turned out 70 million dollars and we will make the best use of it that we can. The dome that we’re responsible for, needs some repairs, need some maintenance, may need a new roof, so we’ll be ready for that. We have to get everything ready for the Battlehawks football team coming in, so this money is a big help in helping to get that done.”
correction: A previous version of this story stated the settlement had just been reached between the parties and the NFL.
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