LA Invites its very own NFL Team April 13, 2015
It happens every August. The football players make their way to the stadium and begin to train for the season. Thirty-two teams prepare for the upcoming season throughout the country, except in one major city: Los Angeles. Los Angeles, California had an NFL team until about 1995 when the Rams moved from L.A. to St. Louis.
For the last twenty years the city of Inglewood has been trying to entice an NFL team to play in the city. Several years ago the city had approved a stadium, but the building was not built at the time. Now the city of Inglewood has approved another stadium plan. The cost of the stadium is $1.86 billion; all of the funds are privately funded.
The revenues generated by the stadium include $205 million in ticket revenue. Other positives for the city are that it will create over 22,000 jobs (mainly construction). The stadium will also generate close to $56 million in tax revenue. The tax revenue is a projection during construction and not a projection of revenues generated by the stadium itself.
Building the stadium is important to attract a team to Inglewood, but there are more boxes that have to be checked off. There are rumours that The St. Louis Rams are the prime candidates for relocation to the city. The Rams are not allowed to just move from St. Louis; they have to get approval from at least seventy-five percent of the NFL owners.
Another team that may move to the LA area is the Buffalo Bills, but they also have to have approval from the owners. Both teams have leases with the stadiums that they call home however the Rams have changed their lease from long term to a yearly one. The Rams may not move because the St. Louis fan base is very strong whereas the Bills are struggling to sell tickets.
The Stadium will be in place. All that the L.A. area needs now is to build a team. There is a good chance that a team will move by the end of 2015.
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