Louis approves $150 million for new National Football League stadium

The final piece of the public financing for St. Louis’ NFL stadium proposal passed Friday, giving the city a proposal to give to the NFL before the league’s December 30 deadline.

The plan that was approved Friday calls for the city to pitch in $150 million of the estimated $1.1 billion stadium cost.

Members of the St. Louis stadium task force have said that even if the Rams move, a new stadium along the Mississippi River north of the Gateway Arch could lure another team. We now have more work to do to prepare our St. Louis stadium proposal for delivery ahead of the NFL’s deadline of December 30.

The team would pay $250 million, the National Football League would kick in $300 million, fan seat licenses would add $160 million and completing the package with $150 million from the city. We recognize that our proposal will require extensive review before it is considered for approval by the NFL.

Alderman Sharon Tyus summed up the city’s frustration to the St. Louis Post-Dispatch: “We’re like at the strip club … and the stripper is throwing the money back at us”. The additional $100 million became a point of contention last week when league executive Eric Grubman went on “The Bernie Miklasz Show” on 101 ESPN Radio in St. Louis and said that St. Louis’ plan would not be attractive to the Rams.

Because, as is the case with any relocation deal, the league’s owners have to approve each team’s move by a two-thirds majority to pass and now that St. Louis has a number on the table it becomes a numbers crunch as the Rams, Chargers and Raiders all set their eye on LA.

But while the NFL says the St. Louis plan isn’t good enough, it may be good enough to persuade some owners that the league shouldn’t abandon St. Louis.

The Chargers have been asking San Diego officials for a new home to replace aging Qualcomm Stadium for almost 15 years but have been stymied by city fiscal woes and the recession.

The problem? Kroenke hasn’t shown much willingness to stay, at least not publicly.

Kroenke’s actions have made it clear that he wants to take his franchise to Los Angeles, and if he can’t move to L.A., he might start to look at other cities like London, as CBS Sports NFL Insider Jason La Canfora recently reported.