Makes no sense. Spanos has to fork over $650 million for the “privilege” of playing second fiddle to the Rams and a tenant in their new stadium. Surely he could have used that money for a downtown stadium next to PetCo a la Seattle or even Detroit.
I'm not sure how this works, but I wonder if he actually has to pay the $650M, or they deduct it from his TV revenue payments, over ten years or so. Could be that they have good equity, but not enough cash flow to build a stadium, which would have to be mortgaged, and you know that payment wouldn't be cheap.