urbanSTL

Good point, DB. If the county wants the money, then let’s starting talking about a city county merger again.


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pattimagee wrote: ↑

Nov 24, 2021

Agreed - a lot of people are seeing this as a loss, but I'm pretty happy we got $800M and we got it fast. 

I also think that tort funding for punitive damages is a big win for the STL area too. 

Right.  And I hear the full amount is due in 30 days.  I guess Stan has that much languishing in his checking account.  

Why do I think he will just raise the rent on all his strip malls in the St Louis area by, say, $790 million.  He just seems like a last laugh kinda villain.

^On the other hand, if he raises the rent his wife is under no obligation to ask her in-laws, nephews, and cousins to pay it. They could just as easily move out. So, sure, let him raise the rent and run his lousy strip malls vacant.

pattimagee wrote: ↑

Nov 25, 2021

Is there any play for anything other than a 35 - 21.6 - 21.6 - 21.6% split?

Heck, relooking at the agreement. There isn’t any stipulations on how much goes to who… I guess that’s most likely in the lawyers contract?

Found this:

The cynical part in me says this another lawsuit in making with each claiming they are entitled more then the other while the lawyers cash in and chuckle to themselves that the got three new clients already lined up.    Especially when you consider that that county is making things very difficult just to do a modest convention center upgrade and expansion with existing revenues already ear marked as such..  

At same time, I'm kinda at a loss at why wouldn't any settlement involved more than one party have not already agreed in principle or at least or some written language of respective share and lawyers fees.   I'm sure things came and quick furious but still just a basic legal framework in writing seems like a very doable thing considering the funds involved.  Heck, I can't even hire anyone or service for a few thousands dollars on my company projects without a lengthy multi page contract or service agreement reviewed by a lawyer..  We are talking in the hundreds of millions. 

^ that was signed in 2016 but at the time the city and county didn’t care and nobody thought this could go anywhere but both needed to be part of it so they basically told STLRSA to do whatever and their board approved a contract with lawyers to work on a 35% contingency but since at most it was thought we’d just get back the $16m that STLRSA (via STL city for most part) put into the new stadium plan that would just go back to STLRSA coffers and that would be the end of it

I assume Kroenke will be able to raise the money through a bank, not even a billionaire has 790 million in liquid assets. The bankers know he is good for it.

Idk how the breakdown will be- all Kroenke or spilt 32 ways or the nfl take it off the top but if it’s him alone it’s a significant amount. Probably 3-5 years worth of profits from his enterprises.

addxb2 wrote: ↑

Nov 24, 2021

I know this won’t stop anyone from being cynical… BUT even a year ago this outcome was hard to believe. $790m is not a win for the NFL.

Everything that said $1b+ or a team were hype media.

TLDR: be thankful we got anything!

This.

Talk of $20 billion was always sheer insanity. Talk of $10 billion was always insane. I thought the final number would be more than $1 billion, but this isn't that far off that amount, and it is actually a lot more than most people were probably expecting at the outset of this lawsuit. If you had told everyone here back in 2017 that in the end St. Louis would get a settlement of nearly $800M for the Rams relocation debacle, people would have been ecstatic at the prospect of that. If it had gone to trial, maybe we end up with more than a billion, but who knows? If it had been some insanely high figure (and any figure that involves 11 digits could be considered "insanely high"), it would have gotten tied up in appeals for years. If the hope was that this would end with Stan Kroenke being personally bankrupted, well that was always a pipe dream. People with a personal net worth north of $10B don't end up being broke, ever. Stan Kroenke's a miserable rich douchebag, and he'll continue to be that until the day he dies. Life goes on.

Ebsy wrote:I assume Kroenke will be able to raise the money through a bank, not even a billionaire has 790 million in liquid assets. The bankers know he is good for it.

His insurance will pay for most if not all.

We also need to use the money to make St. Louis the world class city it should be. If we can become a top 10 or top 15 metro area again, then the NFL (and the NBA) will be clamoring to have teams here. We have to fill North City back up, NGA is a great opportunity to build up the neighborhoods around it again. We need to rebuild the roads, sidewalks, and have a reliable public transit system. We need a vibrant downtownAnd we need to merge the city and county. All the recent federal money and the lawsuit money is an influx of money St. Louis has never seen before, so now is the team to create the city we want


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dweebe wrote: ↑

Nov 29, 2021

CG91 wrote: ↑

Nov 29, 2021

We also need to use the money to make St. Louis the world class city it should be. If we can become a top 10 or top 15 metro area again, then the NFL (and the NBA) will be clamoring to have teams here. We have to fill North City back up, NGA is a great opportunity to build up the neighborhoods around it again. We need to rebuild the roads, sidewalks, and have a reliable public transit system. We need a vibrant downtownAnd we need to merge the city and county. All the recent federal money and the lawsuit money is an influx of money St. Louis has never seen before, so now is the team to create the city we want


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You're hoping for $250 million to do a whole lot and not be wasted by politicians who are just going to fatten themselves and their friends up.

By the time this is done all us citizens might see is some new streetlights and every major elected official driving brand new 2022 Escalades.

Days of that have been long over. We saw what happened when Stenger tried it. Engaged citizens have many ways to pick up on shady things now and loud speakers via social media to broadcast it

STL city’s procurement system makes it very hard to get away with since it’s requires public bidding for any purchase above $500. Which by the way is a huge waste of money and time. City spends wastes more money making sure it doesn’t waste money. It takes hundreds of hours to staff time to get bids in and process it all for a $1000 printer purchase.

Public corruption now a days is some lonely accounted with access to the money taking a few k a month.

I hope the money is spent wisely, efficiently, with a concentration on the convention center.

But in terms of wisely and efficiently, I haven’t met a St. Louisan yet who believes it will.

Give every St Louis city/county resident a $400 check.

OnTheEdge wrote: ↑

Nov 30, 2021

Give every St Louis city/county resident a $400 check.

This is not a bad idea because evidence suggests people will make good use of the stimulus check, pay down bills and debt, etc..  However, I don't think it provides long term solutions that will benefit the community over the long run.    In addition, I can't help think with $550 million of Restore act funds over the next two years that the city can easily put some towards rent & utility relief,  affordable housing and what I think the most beneficial for the city is basic street infrastructure/fleet replacement & workforce development.   You literally got job openings across the city, police and transit not to mention private sector.   You have plenty of dollars to help people with The Restore Funds.  However the Restore Funds and Rams settlement are really one time deals that won't happen again for foreseeable future   The City needs to invest in long term solutions for its residents in my opinion.    

I honestly think the best use of Rams settlement is convention center & rebuilding the immediate street grid/affordable housing for near northside.  Come up with phase II Convention Center Upgrade/Dome Replacement Plan (maybe set aside funds for parking and dome demo) take out raised section of freeway between Wash Ave & Cass Ave ( use funds to leverage Fed grants and infrastructure funds), convert the bottle work site back into a grid and invest in a grant program for first time home buyers/rehabs.  The north river has huge potentional for redevelopment as well as rebuilding the industrial base/jobs.  Time to use Rams settlement to keep viable convention space in the city as well as rebuild the immediate area./infrastructure and street grid.   

https://nextstl.com/2021/11/near-north-riverfront/
  

Stltoday - Next up after Rams settlement: Dividing up the cash

https://www.stltoday.com/news/local/gov ... ff7ac.html

Turns out that a case taken to trial may not have been quite as exhilarating as many assumed it would likely be - apparently in Missouri you can't force an out-of-state defendant in a civil action to show up on the witness stand, even with a subpoena. Most likely, all that we would have gotten were the recorded video depositions.

https://www.stltoday.com/sports/columns ... ed28e.html

In Missouri, you cannot force an out-of-state defendant to show up on the stand via subpoena for a civil case. That’s why Kroenke and Co., conducted recorded depositions under oath, which they completed. Those recordings likely would have been played for the jury on a TV screen. The outcome could have been just as damning, but far less enjoyable. It sure would be nice if those depositions somehow got out.

gist of article not behind paywall https://techilive.in/he-helped-st-louis-land-the-rams-he-squeezed-the-n-f-l-when-they-left/