NFL will soon facilitate a team’s relocation to Los Angeles. In the process, the sporting league is expected to get richer by at least $550 Million.
Late on Monday, the St. Louis Rams, San Diego Chargers and Oakland Raiders filed applications for relocation to Los Angeles. According to insider Ian Rapoport, the league will charge (the team that wins the bid) a little more than half a billion dollars as the relocation fee.
It’s no secret that football is the most popular and lucrative sport in America. But it’s amazing to note the disparity between the NHL and NFL. Earlier in 2015, the National Hockey League announced plans to expand the league with a new team based out of Las Vegas. Interestingly, NHL commissioner Gary Bettman said the fee for an expansion team will be in the $500 million range.
How amazing is this? It costs you lesser to start a new team in the NHL than the money needed to relocate an NFL team. If anything, this once again highlights the popularity of football.
Decision on January 12
With regards to which football club moves to L.A., there will be meeting on January 12. There are currently two separate groups vying for the move. While Rams owner Stan Kroenke plans to build a state-of-the-art stadium in Inglewood, California, the Raiders and Chargers have joined hands in a plan to move to Carson. The ownership group which manages 24 votes will get the nod.
Incidentally, the Chargers and Raiders are currently playing in the two oldest stadiums in the league. Their alliance will result in a $1.75 billion stadium in Carson, located in the outskirts of L.A. The Rams have proposed to build a $1.86 billion stadium project in Inglewood.
In 2016, the NFL is expected to get a lot richer.