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In what was probably the most eventful day since Gov. Jay Nixon and his two-man task force announced plans to build a new NFL stadium on the city’s riverfront, the effort made progress but also took some hits as owners met in New York to discuss a future franchise in Los Angeles.
During a Wednesday press conference, task force co-chair David Peacock officially announced that National Car Rental has secured the naming rights to the proposed downtown stadium for $158 million over 20 years. Peacock called it “one of the top naming rights deals in the league,” adding that “it provides certainty around the project, more than anything.”
Dallas Cowboys owner Jerry Jones, who supports St. Louis Rams owner Stan Kroenke’s bid to relocate to a stadium that he plans to build in Inglewood, California, was not impressed. He told the Sports Business Journal’s Daniel Kaplan that National’s investment “would buy a lobby” in a new L.A. stadium.
See Also: Cowboys Owner Jerry Jones Says St. Louis Rams Have L.A. "Flavor"
"The move wasn't well-received by some in the NFL," noted Sam Farmer, sports columnist for the L.A. Times. "They were puzzled that the deal was announced while league owners were meeting and didn't view the $7.9-million-per-year accord as particularly lucrative... The last time naming rights were sold for a proposed NFL stadium, Farmers Insurance pledged $700 million over 20 years for AEG's project in downtown L.A."
Houston Texans owner Bob McNair said Wednesday in New York that the task force is several weeks behind in providing its financing plan to the L.A. Relocation Committee. McNair said a “term sheet” was expected weeks ago and “if they’re going to do something, they need to act.”
As the task force and city of St. Louis continue to haggle on the deal—and await debate and vote by the Board of Aldermen—Commissioner Roger Goodell warned that the clock is ticking on St. Louis: “It’s very important for them to stay on a timetable. It’s very important to have a proposal that’s actionable, and that brings certainty. We have said that repeatedly. They’ve done a terrific job. But ultimately, it’s making sure that we have a proposal that meets those standards by the end of the year.”
See Also: St. Louis Officials Respond to SLM Report on NFL Stadium Funding Plan
The Oakland Raiders and San Diego Chargers have announced a plan to build a stadium for both franchises in Carson, California, but no details of its financing have been provided to the NFL. Kroenke is financing his stadium project and is using no public money for its construction.
The NFL also cleared another stumbling block for Kroenke when it approved his plan to keep Rams ownership and switch ownership of the Denver Nuggets and Colorado Avalanche to his wife, Ann Kroenke, a Wal-Mart heiress who's worth an estimated $4.6 billion. The couple’s son, Josh, would run the two Denver-based franchises.
It truly is a three–team race for relocation to Los Angeles, says Pittsburgh Steelers owner Art Rooney, a member of the NFL’s relocation committee. Various media outlets covering the NFL owners meeting in New York are reporting that Rooney expects the Rams, Chargers, and Raiders to apply for relocation to L.A.
According to Mike Florio of Pro Football Talk, a deal could be in the works involving compromise between the three teams. “With a supermajority of 24 'yes' votes needed, no owner likely will have enough votes to secure permission to move, if the three franchises are fighting among themselves,” Florio wrote. "The outcome will hinge on the maneuverings behind the scenes, with the three teams working out a solution that is acceptable to the league and, more importantly, to each of them."
Farmer told NFL Network on Wednesday that “barring turbulence,” a vote by owners on relocation could happen in January. “I think the league might take the risk of two teams [relocating]. If you allow one team to market itself and sell season tickets, the second team to come in would be at a disadvantage."
