ST. LOUIS (KMOX) - New information is coming out about the NFL owners meeting last month involving the estimated $1 billion lawsuit filed by St. Louis over the Rams relocation. It's the same meeting where owners were "angered" by Stan Kroenke potentially backing out of his indemnification agreement.
In that October meeting, NFL owners were made aware that the St. Louis parties rejected a $100 million offer from Kroenke to settle their lawsuit, according to A.J. Perez of Front Office Sports. The exclusive report from the sports business website says no timeline was given of when that offer was made and/or rejected.
Perez says the 100 million would have covered just the basics of what the St. Louis group is seeking.
"Lost revenue. Lost taxes, because the team moved and you can calculate that out pretty far. Obviously, they spent money to develop the proposal," Perez tells KMOX.
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Kroenke was asked to leave the room during that same meeting as other owners were "angered" and "stunned" that the Rams owner was trying to back out of his agreement to pay for essentially all legal fees, settlement or punitive damages if anyone was sued over the team's move to Los Angeles. The estimated $10 billion man signed that indemnification agreement with the NFL and all its owners when he convinced them of relocating the Rams.
The bills are reportedly over $10 million each for some teams and the possible punitive damages awarded to St. Louis in the lawsuit have been estimated at over $1 billion.
Next up in the lawsuit, filed in 2017 by St. Louis, St. Louis County and the St. Louis Regional Convention and Sports Complex Authority is a show-cause hearing in December. Some NFL owners could be held in contempt for not turning over financial documents they've been ordered by the court to disclose. New England Patriots owner Robert Kraft, Kansas City Chiefs owner Clark Hunt, and New York Giants co-owner John MaraKraft and Dallas Cowboys owner Jerry Jones were fined last month for their refusals.
Lawyers for the League and Rams have gone all the way to the Supreme Court of the United States in attempt to have the case thrown out, but has lost at seemingly every turn. A separate suit was recently settled, giving $24 million in refunds to former St. Louis Rams personal seat license holders. St. Louis was also the winner in another lawsuit, that allows fans who bought tickets and merchandise since 2010 to be eligible for partial refunds.
The lawsuit is set to go to trial on Jan. 10 in a St. Louis courtroom.
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