ST. LOUIS -- One day before the NFL's deadline to accept stadium proposals from the three home markets vying to keep their teams, St. Louis submitted the most comprehensive and actionable plan of the three.
Missouri Gov. Jay Nixon's stadium task force submitted a formal proposal for the estimated $1.1 billion venue on the city's north riverfront Tuesday morning.
The proposal was addressed to the six owners on the NFL's Los Angeles Opportunities Committee, and copies were also sent to commissioner Roger Goodell, Rams owner Stan Kroenke and team executives, and the rest of the NFL owners. Task force leaders Dave Peacock and Bob Blitz have been working on the project for more than a year and, after many tweaks, finalized and forwarded the roughly 400-page proposal.
"St. Louis has formally presented a $1.1 billion project that delivers more than $400 million in public financing and support, as well as a plan for an ultra-modern stadium on our downtown riverfront that the NFL and the St. Louis Rams will be extremely proud to call their own," Peacock said. "Our proposal is the result of extraordinary teamwork by multiple government agencies, business leaders and industry experts, and is the culmination of intense work over the past 13 months to deliver on the certainty that has understandably been requested by the NFL."
The plan calls for $400 million in public money via city and state funds as well as tax credits, $250 million from NFL team ownership and $300 million from the NFL G4 loan program. The additional money is expected to come from the sale of personal seat licenses.
Under the proposal, the St. Louis Regional Convention and Sports Complex Authority would own the stadium and land, with the Rams paying annual rent of $1.5 million plus a 3 percent annual boost over the life of the proposed 30-year lease. All stadium revenues, including the naming rights, would go to the team.
Among potential sticking points, the $300 million from the G4 program would be unprecedented for a one-team stadium. The G4 traditionally offers up to $200 million, though the New York Jets and New York Giants received additional funds for MetLife Stadium. Goodell sent a letter to the task force a couple of weeks ago making it clear that there's no guarantee that an extra $100 million would be available.
The NFL has planned another round of owners meetings for Jan. 12-13 in Houston in hopes of making some decisions on whether Kroenke will get to move to Los Angeles and build his stadium in Inglewood, California, or the San Diego Chargers and Oakland Raiders will get to move and build in Carson.
San Diego and Oakland have until Wednesday to offer proposals, and though it's believed all three will submit something, only St. Louis has a plan that includes actionable public money at this point. All three teams can begin filing for relocation Monday.