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THE DAY AFTER RAMS MOVE: MORE DETAILS ON DEAL
Published January 19, 1995
The agreement between the Rams and the city of St. Louis was released yesterday, and "contrary to popular belief about the 30- year lease, St. Louis didn't give the Rams everything," according to Mike DiGiovanna of the L.A. TIMES. Under the deal, the city will retain 25% of stadium advertising revenue, including the profitable naming rights to the domed facility. The Rams and Convention Commission are forming a marketing partnership that will handle advertising for the entire convention center, which could generate as much as $3M a year. That, "combined with the $500,000 a year the Rams must pay in rent and game-day expenses" should net the city about $2M annually. The Rams will also have to pay existing garages close to $40,000 a year for parking spaces near the stadium, and have agreed to share a percentage of revenue for stadium concessions. For more on the lease arrangement, see yesterday's SPORTS BUSINESS DAILY. The city will finance and build a Rams merchandise store next to the stadium and will also begin building additional luxury suites (Mike DiGiovanna, L.A. TIMES, 1/19). The ST. LOUIS POST-DISPATCH reports this morning that St. Louis is "legally committed to paying" for the Rams practice facility, and estimated the cost at close to $16M (Jo Mannies, ST. LOUIS POST-DISPATCH, 1/19). 436-RAMS -- THE HOTLINE: The campaign to sell "Personal Seat Licenses" (PSL's) is off to a "strong, if somewhat confusing, start." Phone problems caused delays, but FANS, Inc., the civic group managing PSL sales, said they issued up to 3,200 applications in the first 24 hours. Ten local banks have announced "financing programs" for seat licensing, and one prominent employer is letting employees buy licenses "through automatic payroll withdrawals" (Andre Mouchard, ORANGE COUNTY REGISTER, 1/19). MORE REAX: In Philadelphia, Bill Lyon writes: "This does not make St. Louis a bad city. Just a sucker, that's all" (PHILADELPHIA INQUIRER, 1/19). Dave Anderson of the N.Y. TIMES compares of Rams Owner Georgia Frontiere and team President John Shaw to "Bonnie and Clyde": "Instead of holding up banks, pro football's Bonnie and Clyde are holding up the taxpayers who financed the stadium" (N.Y. TIMES, 1/19).