NFL owners today approved lending the LA Rams another $500 million for Sofi stadium development
— Daniel Kaplan (@KaplanSportsBiz) May 20, 2020
SoFi Stadium was already projected to cost $5 billion when it’s all said and done, but the price tag just went up by 10%. According to Daniel Kaplan of The Athletic, the Rams’ request for up to $500 million in additional funding was approved by NFL owners Tuesday, who voted on the proposal.
The Rams also asked to pay the money back in double the amount of time normally given by the league, spanning 30 years instead of just 15.
SoFi Stadium was supposed to be completed by the end of July for a two-night Taylor Swift concert, but she postponed her entire tour. The next event on the schedule at SoFi was a Kenny Chesney concert on Aug. 1, but his tour has also been postponed.
Guns N’ Roses is slated to perform a show there on Aug. 8, which is the last event on the calendar before the 2020 preseason – during which the Rams will play three games at SoFi Stadium, one as the road team against the Chargers.
There haven’t been any announced delays in construction, but the coronavirus pandemic is clearly having an effect on the stadium’s opening. It’s likely also part of the reason the Rams asked for more money, since there could be a huge loss in revenue if the NFL starts the season without fans in stadiums.
[vertical-gallery id=632870]