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CVC says they won't meet Rams' demand to spend $700M on Edward Jones Dome

6:06 PM, Jun 28, 2013   |    comments
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By Katie Felts NewsChannel 5 Sports

ST. LOUIS (KSDK) - There's new drama in the Edward Jones Dome debate.

The St. Louis Convention & Visitors Commission says it won't meet the Rams' demand to spend $700 million to upgrade the dome.

The chairman of the organization that owns the Dome says the final decision is in the hands of Gov. Jay Nixon. That means state and local taxpayers could be asked to bear some of the burden.

A similar situation occurred when Kansas City recently renovated Arrowhead Stadium. The dollars used to renovate the facility for the 2009 season aren't equal, but we were able to see how the numbers played out.

The total cost of the Arrowhead renovation was $400 million

The Chiefs took on $125 million of the bill, which was roughly 31 percent. They also agreed to pay any cost overruns in the improvement while picking up the bill for remodeled suites and upgraded office space.

Arrowhead Stadium is owned by Jackson County, so the people there took on $212.5 million of the cost, which is just over 53 percent.

The state of Missouri added the final 15 percent in tax credits, which equaled an additional $62.5 million.

The sports economist NewsChannel 5's Katie Felts spoke with says if the Rams move forward with the $700 million renovations, they will be able to compete for "big time" sporting events. The Rams believe their proposal is specifically tailored to drawing events like a future Super Bowl and NCAA tournaments.

 

KSDK

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