St. Louis agency hires Goldman Sachs to keep Rams in Dome
An investment banking firm was hired by the St. Louis Regional Convention and Sports Complex Authority to help keep the St. Louis Rams football team in the Edward Jones Dome, reports the St. Louis Post-Dispatch.
If that plan fails, the firm wants to at least keep the team in St. Louis. The Complex Authority is paying Goldman Sachs $20,000 a month, plus no more than $25,000 in expenses, Dome officials said.
Goldman Sachs says they have financed or advised on the financing of every NFL stadium recently built. The Rams have played in the dome since 1995, the year they moved from Los Angeles. Last year, Time Magazine rated the Edward Jones Dome as one of the worst stadiums in the United States.
Goldman will prepare a plan “on existing and alternative methods for maintaining or renovating current facilities, and/or constructing new facilities sufficient to retain a National Football League franchise in the St. Louis Metropolitan Area,” according to the resolution unanimously approved by the Authority board Monday afternoon.
At an arbitration ruling this month, an estimated $700 million in renovations to the Dome was deemed“unworkable.”