ST. LOUIS -- As with any stadium proposal anywhere, there are plenty of moving parts when it comes to the new deal being put on the table in St. Louis' attempt to keep the Rams in the city.
With that in mind, this is an effort to lay out some of the key points of the proposal. By no means is this comprehensive, and Friday's news conference didn't answer anything close to all of the tough questions and hurdles that remain, but here's what the task force of Dave Peacock and Bob Blitz wanted to convey on Friday in bullet-point form:
The plan features an open-air, 64,000-seat stadium on the north riverfront with views to the south of the Gateway Arch and downtown St. Louis. There are an estimated 10,439 parking spaces provided in the plan, and the stadium will have access to multiple forms of public transportation.
The expected cost is between $860 million and $985 million.
The goal of the plan isn't just to house an NFL team but also lure a Major League Soccer team. Peacock and Blitz have already discussed that possibility with MLS Commissioner Don Garber, and the plans have built in 30,000 lower-bowl seats for MLS and international soccer events.
The stadium will be a public asset owned by a public entity such as the St. Louis Regional Convention and Sports Complex Authority and would be leased to the Rams (or the NFL team it houses) with the ability to sublet to a possible MLS franchise. Any revenue splits, operating rights, management agreements, parking terms, signage, naming rights and other revenue generating initiatives would be negotiated with the NFL team.
Here's the breakdown of the 64,000 seats for NFL games:
54,020 general seats
2,000 suite seats (includes private suites and on-field seating)
480 loge box seats (eight seats in each of 60 boxes)
7,500 club seats
The 90-plus acre site is a mix of publicly and privately owned property. The aforementioned cost includes the expected purchase and acquisition of the properties.
The plan also includes the financing of improvements to the Edward Jones Dome so it can be repositioned as a permanent convention center that can also be used to attract major sporting events such as college basketball's Final Four.
From a financing perspective, the new stadium is not expected to add any new tax burden on taxpayers locally or in the state.
Here are the estimated costs:
Land/Demolition - $90-110 million
Stadium construction - $600-650 million
Parking/infrastructure needs - $170-225 million
Total - $860-985 million
Here's how the financing is expected to work according to Peacock and Blitz:
NFL team ownership - $200-250 million
NFL (committed to match up to $200 million through G4 loan program) - $200 million
Total - $400-450 million
Potential public sources (all contingent on commitment of private financing)
Extension of bonds on Edward Jones Dome - $300-350 million
Missouri Development Finance Board support - $15-25 million
Brownfield tax credits (for improving blighted areas) - $25-30 million
Personal seat license proceeds - $120-120 million
Total - $460-535 million
According to the plan, the land would be acquired, bids for contractors and site preparation would begin between June of this year and December 2016. The financing documents and lease documents would be negotiated and signed in 2017, with site preparation completed and permits obtained the same year. Actual construction and marketing of the seat licenses would begin in early 2018, with construction completed in time for the start of the 2020 NFL season.