City on the Hook: St. Louis and the Bill for an NFL Stadium

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A empty stadium with a large price tag? Photo by William Wesen. Added to Public Domain by Appraiser

St. Louis served as a case study last year in a story on The Heart of a City that examined the dynamics of stadiums built for professional sports teams with taxpayer money. At the time, there were fears that the city’s beloved Rams would leave St. Louis and return back to Los Angeles, the franchise’s original home. However, considering the National Football League’s (NFL) relationship with nation’s second largest city, most fears from St. Louis fans seemed to be unfounded.

Yet, almost a year later, those unfounded fears have become reality. By a 30-2 vote of current NFL owners, the Rams were given approval to leave St. Louis for a move back to Los Angeles. While the immediate reactions have ranged from excitement to disappointment over the franchise’s move, the strongest sentiments may come during the next few years.

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Edwards Jones Dome is without a major tenant since opening in 1995. Photo by Kelly Martin.

Opened in 1995, Edward James Dome served as the home for the Rams until the NFL vote this week. As a result, the Dome now is poised to sit empty until further notice as it appears that no NFL team will replace the Rams in the immediate future. Without a new NFL team, residents throughout the state of Missouri may be on the proverbial hook for the stadium’s bill.

As a part of the Edward James current financing structure, government bodies at the city, county, and state level are paying a combined $24 million a year to cover the cost of bonds sold to finance the stadium’s construction and maintenance. Without a tenant capable of producing revenue like the Rams housed at Edward James, the financial burden for government could increase significantly as there are five years and $129 million worth of payments remaining on the outstanding bonds. In light of the news that Rams owner Stan Kroenke is leading a Los Angeles stadium project  that will involve no government funding, the price tag left behind for taxpayers is staggering and marks a sad chapter for a place that was once home to the Greatest Show on Turf.