ST. LOUIS (KTVI) – Taxpayers could take a hit if the Rams pull out and St. Louis is left without an NFL team.
Investigator Elliott Davis talked to Jim Shrewsbury the man appointed by Governor Nixon to head up the St. Louis Regional Sports Authority, the government agency that owns the Edward Jones Dome as well as Rams Park.
Shrewsbury says the City, State and County could end up forking over more dollars to help pay off the bonds if revenue from a loss of the Rams isn’t replace.
Right now the Rams pay $500,000 to use the Edward Jones Dome.
Right now the State pays $12 million a year, the City of St Louis $6 million, and St Louis County $6 Million to pay off the bonds sold to build and maintain the dome.
The bond pay off is over a 30 year period.
$129 million is still owed in bond payments that won’t be paid off till the year 2021.
The Rams also pay the Sports Authority $25,000 a year to rent Rams Park, the training facility in Earth City.
The Sports Authority would also have to make up that revenue if the Rams pulled out and we don’t get another team.
Shrewsbury says he’s confident they could eventually make up the losses saying they’d look for other tenants. But he admits that could take time.