ST. LOUIS 鈥 A year after the historic settlement of a lawsuit against the NFL and Rams, the three governmental bodies that brought the suit in 2017 agreed Wednesday on a deal to split up the funds.
A proposal released Nov. 22 to divide the $519 million in Rams settlement money received its final approval Wednesday when the board that owns The Dome at America鈥檚 Center 鈥 the 狐狸视频 Regional Convention and Sports Authority 鈥 voted to approve it.
The RSA鈥檚 vote, which was unanimous, was the last approval needed for a tentative agreement released last week between 狐狸视频, 狐狸视频 County and the RSA.
鈥淢otion passes, we have a deal,鈥 the Rev. Earl Nance Jr., the RSA鈥檚 chairman, said as the vote concluded.
It has been a year since the $790 million settlement with the NFL and Rams 鈥 over $275 million went to attorney fees 鈥 was announced. But it came with no instructions on how to divide up the settlement, and the three plaintiffs have been negotiating over each party鈥檚 share ever since.
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Under the proposed agreement, the city, where the Rams played their home games and which led the charge in 2015 to try and keep the team from moving to Los Angeles, would get the largest chunk of the settlement money: $250 million.
狐狸视频 County, which helped finance the Dome but did not join the ill-fated effort to build a new riverfront stadium, would get $169 million. The RSA, the third plaintiff in the lawsuit, would get $70 million.
Another $30 million would go to the city to appropriate to the ongoing expansion of the America鈥檚 Center convention center downtown, which was running over budget due to soaring construction costs when the city and county issued bonds to begin the project earlier this year.
will be introduced Thursday at the Board of Aldermen. Alderman Jack Coatar is the sponsor.
The agreement was reached last week after Mayor Tishaura O. Jones and 狐狸视频 County Executive Sam Page showed up at the negotiating table 鈥 the first time Nance said he saw them there.
Mayor Jones attended the RSA meeting Wednesday but said she was just there to observe and did not make any remarks. She declined to take questions after the vote, but her spokesman distributed a joint statement between her, Page and Nance that said the distribution agreement was reached 鈥渋n the spirit of collaboration.鈥
鈥淥ur agreement is based on the belief that the best days for the 狐狸视频 region are ahead of us and there is no challenge the region can鈥檛 overcome when we work together,鈥 they said in the statement.
Though the RSA board voted earlier this month to endorse setting the money aside and investing it collaboratively for 鈥渃atalytic鈥 regional projects, it ultimately went along with the proposed division of the money. There鈥檚 about $15 million remaining in the Dome鈥檚 capital fund, and the agreement that provides it $4 million in annual payments from the city, county and state expires in 2024. Beyond that, there鈥檚 no other money coming to the Dome, so the RSA needed a large enough share of the settlement for maintenance and capital expenditures, such as a new $255,000 point-of-sale system.
And the Dome has 鈥渁 very good year鈥 ahead of it, Convention and Visitors Commission Director Kitty Ratcliffe told the board. The XFL鈥檚 Battlehawks return for a new season, as does the University of Missouri鈥檚 football team for a fall game and a Bands of America competition, among other events.
鈥淛ust because the Rams aren鈥檛 in the Dome, it鈥檚 not empty,鈥 Nance said.
Despite going along with the division of the funds, the RSA board reiterated its position from earlier in the month that encouraged the city and county to set aside their respective shares to 鈥渕aximize鈥 the benefits for a 鈥渕ulti-generational impact.鈥 Some members had expressed an interest in using an endowment structure to keep the money available for years to come, one of several ideas floated by regional business group Greater 狐狸视频 Inc. centered around jointly investing the money.
But RSA board member Dave Spence, an appointee of Gov. Mike Parson, said 鈥渢here was no willingness鈥 from either the Page or Jones administration to 鈥渆ntertain鈥 the discussion of a joint fund.
鈥淪ometimes you do things for the greater good, and that鈥檚 why we voted yes,鈥 he said.
Now, the city and county will have to decide with their respective legislative bodies how to invest their shares, a discussion that has been overshadowed by the division of the money.
鈥淭he unanimous vote today by the Regional Sports Authority demonstrates the strong support for how the Rams funds will be distributed,鈥 Page said in a statement on Twitter. 鈥淢y office will work closely with the county council and listen to all suggestions to find the best ways to invest in (狐狸视频 County鈥檚) future.鈥
The board also voted to issue a request for proposals for financial services to hold and invest the RSA鈥檚 share of the funds. The three parties are expected to receive their shares after the three-month U.S. Treasury bills the parties have the funds invested in mature Jan. 12.
As the meeting broke up Wednesday, Bob Blitz, one of the attorneys who led the Rams litigation and also represents the RSA, was asked what he thought of the deal. He didn鈥檛 want to opine on the proceedings. But Nance, the chairman, chimed in. Blitz, he said, was a 鈥渉ero.鈥
Updated at 4:25 p.m.
Read previous 狐狸视频 coverage of the relocation lawsuit against the National Football League, the Rams and team owner Stan Kroenke.聽