Kroenke, Rams, Dome, Broadway and the Elevated Highway
Last week NFL owners approved Stan Kroenke’s bid to increase his ownership in the St. Louis Rams from 40% to 100%. The sale is not strictly about sports.
Speculation and rumors about the future of the Rams is swirling after Stan Kroenke was allowed to buy St. Louis’ football franchise.
Will they demand a new stadium? Will they threaten to leave town? Nothing is for sure, but Rams fans are crossing their fingers, getting out their rabbit’s feet and eating Lucky Charms: anything to swerve things in St. Louis’ favor. (Full Story: KMOV)
In the next couple of years decisions will be made that may profoundly change the area between St. Louis’ convention center (aka America’s Center) and the nearby Lumiere Hotel & Casino. In 2012 the process starts to bring the Edward Jones Dome into the top quarter of NFL facilities by 2015. If we don’t get the dome into the top quarter, the Rams are free to leave the dome for another facility.
Another facility might be elsewhere in the region or perhaps, back in Los Angeles. The message to us is clear, pony up some serious money to improve the dome or find the dome without a tenant. The third, but unlikely possibility, is the Rams stay put through the end of the 2025 lease without upgrades to get the dome into the top quarter. From the same KMOV story:
There probably won’t be a lot of new, taxpayer funded initiatives to lure the Rams away from St. Louis, but Kroenke is a developer. There has been speculation that he could push for a new stadium. That stadium could be in St. Louis county, near Earth City or even Illinois.
Sports economist Patrick Rishe said moving the stadium out of the city is not likely.
“I don’t think St. Louisans want to go to the suburbs to watch professional sports,” Rishe said. “I think we’re accustomed to watching it downtown, so I don’t think that’s an option. Geographically that’s an option, but logistically I don’t think it will be a reality.”
Rishe is right — if you are talking baseball.
The poll this week asks what you think Kroenke’s purchase of the rest of the team means for the City/Region, the Rams and the dome. City to River wants to replace the elevated lanes you see above that divide Laclede’s Landing (right) from the city to the left.
– Steve Patterson
Although I don't think many people are a fan of the dome or worse the 1970's portion of the convention center, tearing it down would make Ballpark Village seem like a minor problem. That is a lot of land to redevelop.
I'm not suggesting tearing down the convention center. I would like to see the dome removed or opened up.
Interesting that none of your answers assume that he'll actually move the team. I expect that he'll ask for a new stadium. I just don't know what the outcome will be. As a city resident, I see little reason for city resources to be devoted to a new one, but if the voters in Fenton or East St. Louis or Maryland Heights want to fund one, so be it. And if the Rams go back to LA, so be it, too. Pro sports don't define me, and I can watch teams playing 24/7 on cable without having to go in person . . .
I agree the Rishe, who is very insightful on these issues, is off the mark on this one. Forbes recently updated their list of NFL franchise value. Something that stood out is that the franchises that topped the list had primarily financed their own stadium were the most successful. It could be a chicken-or-the-egg question but it would appear that an effective business plan for owners has been to use their stadiums as a cornerstone of larger development plans that drive their profit. Being that Stan K is a developer by trade, I can see an Earth City or Fenton stadium, in which the stadium and all surrounding land is develop by Kroneke as a possibility.
There is no way the city will bring the lease into the top 25% of stadiums. That would cost almost as much, (and possibly more) than building a new dome. Kroneke my be satisfied with significant improvements (retractable roof) and a new, more-favorable, lease agreement with city.
The risk of the Rams leaving for LA or San Antonio will come up a lot but I don't believe it is as serious and most chicken-little types say. There are three teams, the Vikings, Jaguars, and Chargers, who are also threatening to leave for LA. The Vikings and Chargers also want new stadiums, and Jacksonville is simply not proving to be a viable NFL market. All three of those situations should come to a head before the Rams' does. So by 2015 LA may already have a team, if they can find a way to build a modern stadium of their own.
Is Rische talking in terms of the city being the region? In other words the Rams will stay in St. Louis (meaning the region) versus moving to LA.
Aron is calling it right, I think their will by a play for a new open air stadium. The question is what is he going to ask for? and how will his development history will play into it? and how much Stan the man is going to pony up. Owning the stadium means owning the revenue stream. As far as LA, a lot of bets are the Jaguars going while Vikings, Chargers and Rams work out their issues.
What I see as a likely scenario. Stan K will build a stadium if he can get the land, infrastructure and development rights along with it. At the moment, Fenton would be a strong possibility as well as have an edge in politicall pull. However, downtown would have a strong case. How? bulldozing Edward Jones, removing I-70 to free up developable space and tie in Bottle works district/McKee's northside involved somehow (tax credits)
. . . or McKee could modify his plans or the old Pruitt-Igoe site could be used or . . . The reality is that an existing brownfield site (of which the region has many) would make more sense than demo'ing and rebuilding on the existing site, financially, logistically and from a scheduling standpoint. Plus, the convention center would take a significant hit on its capacity if the dome were removed. Not to say that it can't or shouldn't be on the perimeter of downtown, but as long as it's close to freeways, with or without Metrolink access, it can go pretty much anywhere in the region . . .
But, it comes down to access, access, and more access specifically Freeway access just as any major mall or commercial development. What is so tempting about Fenton is that it is one large site/parcel under one ownership (the quasi gov't owned clearing house of defunct Chrysler property) near the intersection of two major freeways, I-44 and I-270 beltway (if you incorporate IL).
Downtown, Edward Jones/Bottle Works, will still have good access even if I-70 is removed from downtown as all major freeways converge or pass through downton, I-70 (via new MRB), I-44, I-64 and I-55. My point is what will the city be willing to give up and how much of a parcel can be cobbled together for a trade off, new stadium built by Stan K vs what he could gain from future development. In other words, Stan knows that the Show Me state doesn't have the money to build a new stadium. Heck, they can't even cobble together a state bond issue to replace an outdated chemistry lab at UMSL.