Rams owner Stan Kroenke forced to pay staggering 571 million of NFLs St. Louis settlement per report
Rams owner Stan Kroenke forced to pay staggering 571 million of NFLs St. Louis settlement per report
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It took nearly 12 months, but it appears the NFL has finally figured out who will be footing the bill that the league made with the city of St. Louis last November.According , the NFL's 32 owners are set to approve a resolution Tuesday that will call for Kroenke to foot the bill for $571 million of the $790 million settlement. The rest of Rickey Henderson Jersey the money will be coming from the NFL's 32 teams, who were somewhat surprised earlier this year when they found out they would be contributing to the bill. Back in May, the NFL from each team's revenue-sharing payment, and the league used that money to help pay the settlement.The teams were surprised to lose that money because most of them were expecting Kroenke to foot the entire bill for the settlement. The i sue has been a contentious one that has been hanging over the league's head since the St. Louis settlement was originally announced Nov. 24. Pick Six Newsletter Crafted By The Best NFL Experts Get the day's big stories + fun stuff you love like mock drafts, picks and power rankings. I agree to receive the "Pick Six Newsletter" and marketing communications, updates, special offers (including partner offers), and other information from CBS Sports and the Paramount family of companies. By pre sing sign up, I confirm that I have read and agree to the and acknowledge Paramount's . Please check the opt-in box to acknowledge that you would like to subscribe. Thanks for signing up! Keep an eye on your inbox. Sorry! Matt Joyce Jersey There was an error proce sing your subscription. In the days leading up to that had sent an email to the NFL making it clear that he did not expect to be paying the entire bill. Since St. Louis was suing all 32 teams, Kroenke threatened to reach his own individual settlement with the city, which would have left the other 31 teams out to dry. The reason this i sue got contentious is because Kroenke didn't feel that he was legally required to pay the entire settlement. Kroenke covered the legal fees in the case, but he had an indemnification agreement in place and he didn't believe the language in that agreement required him to pay the settlement. (Pro Football Talk's Mike Florioactually had a pretty strong legal leg to stand on.)The lawsuit was originally filed by the city of St. Louis, St. Louis County and the Regional Convention and Sports Complex Authority all the way back in 2017. The lawsuit was filed because the plaintiffs felt that the "violated the obligations and standards governing team relocations" by moving the franchise. Basically, the city of St. Louis and the other plaintiffs felt that the Rams broke the NFL's relocation guidelines when they left town and that the other 31 teams were at fault because they voted to let the Rams move.In the end, Kroenke's decision to move the team from St. Louis to Los Angeles is going to cost him $571 million on top of everything else he's already paid for. The Rams moved to L.A. prior to the 2016 season after spending 21 seasons in St. Louis. Although Kroenke will be forking over a Catfish Hunter Jersey huge chunk of change, he shouldn't have any problem doing that. According , the Rams owner has a net worth of $12.5 billion.
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