ST. LOUIS (KMOX) - St. Louis leaders are not yet announcing how the money for a "historic agreement" with the NFL and LA Rams owner Stan Kroenke will be spent.
St. Louis Mayor Tishaura Jones and County Executive Dr. Sam Page made a joint statement Wednesday after signing a $790 million settlement agreement over the Rams relocation lawsuit. It comes more than four years after the lawsuit was filed.
Here part of the statement:
"This historic agreement closes a long chapter for our region, securing hundreds of millions of dollars for our communities while avoiding the uncertainty of the trial and appellate process.
"The City, County, and STLRSA are still determining how settlement funds will be allocated. We will provide more updates as they become available."
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The settlement avoids not only a public trial that was scheduled for January in a St. Louis courtroom. But it also prevents a contempt of court hearing after multiple NFL owners, including Jerry Jones of the Dallas Cowboys and Robert Kraft of the New England Patriots, refused to hand over detailed financial information as ordered by the judge.
It's unclear at this time if Kroenke, who signed an indemnification agreement with the NFL and all its owners, will have to pay the entire $790 million settlement or if the bill will be split with the NFL.
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