The St. Louis region scored a touchdown worth a lot more than seven points. Try $790 million.
With a trial date set for early January pitting St. Louis, St. Louis County and the Regional Convention and Sports Complex Authority against the NFL, the league and L.A. Rams owner Stan Kroenke caved in.
Kroenke got his team to Los Angeles. St. Louis got the last laugh. More than three-quarters of a billion dollars’ worth of chuckles, guffaws, and giggles.
St. Louis Mayor Tishaura Jones and County Executive Sam Page released a joint statement on Wednesday saying, “Today, St. Louis City, County, and the Regional Convention and Sports Complex Authority signed a $790 million settlement agreement with Rams owner Stan Kroenke and the National Football League.”
“This historic agreement closes a long chapter for our region, securing hundreds of millions of dollars for our communities while avoiding the uncertainty of the trial and appellate process.”
Not that legally flattening Kroenke, Rams and the NFL was easy, but Jones and Page reminded the region that some tough decisions lie ahead. Today’s victorious allies could become foes as negotiations begin on how the jackpot will be divided.
“The City, County, and STLRSA are still determining how settlement funds will be allocated. We will provide more updates as they become available,” the statement said.
The talks will also include the attorneys that represented the region in the case. Are their respective firms really going to take home 35% of the prize as specified in contracts when they took on the case?
Look for that debate to go into overtime.