Los Angeles Rams owner Kroenke to borrow $1B for Inglewood stadium

Los Angeles /
Jan.January 18, 2016 03:25 PM

Los Angeles Rams owner Stan Kroenke will borrow roughly $1 billion from JPMorgan Chase to build his Inglewood stadium project, where the Rams (and maybe also the Chargers) will play.

The estimated cost of the proposed stadium development is now at $2.66 billion, which would make it the most expensive sports facility ever built. The current titleholder is the MetLife Stadium in East Rutherford, New Jersey, which cost $1.6 billion to build, but Kroenke’s L.A. project could very well unseat it as the most expensive stadium in the United States.

“The financial structure of the stadium will be sorted out as we move forward on the final arrangements in Inglewood, especially as it relates to the potential relationship with a second team,” Rams President Kevin Demoff told SportsBusiness Journal, confirming that there was, in fact, a loan but declining to reveal its amount. [SportsBusiness Journal] – Hannah Miet

 
 

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