St. Louis Rams owner Stan Kroenke, through an affiliated holding company, recently purchased a 60-acre tract of land in Inglewood, Calif., reports the Los Angeles Times.
The paper says the land is located between the Forum and Hollywood Park, and would possibly be the spot for development of a new NFL stadium. Kroenke, however, has made much of his fortune in land development and has owned large amounts of land in California over the years, so the new land buy could be just part of a land development deal.
According to ESPN.com, a clause in the Rams’ lease at the Edward Jones Dome in St. Louis is set to kick in at the end of the 2014 season. As long as the stadium hasn’t been upgraded to one of the eight best venues in the NFL before that time, the lease will then become a year-to-year proposition beginning in 2015.
Discussions of upgrades have been in talks for the past few years with no resolution agreed upon.
In 2012, the St. Louis Convention and Visitors Commission proposed a $124 million upgrade to help the Edward Jones Dome reach the “first tier” standard. The Rams countered with a more elaborate proposal which was estimated to cost somewhere in the range of $700 million.
Last February, an arbitrator heard both proposals and ruled in favor of the Rams. Soon after, the commission made it clear it does not intend to follow through with the plan, meaning the lease will almost certainly expire after next season.