The NFL has recently announced that it will be returning to Los Angeles, with the St. Louis Rams soon to call their home California. The announcement has been long anticipated as the Rams, the San Diego Chargers and the Oakland Raiders all put in requests to move to Los Angeles.
The Rams Move to LA
After months of waiting, voting and discussion to determine the fate of the Rams, Chargers and Raiders finally took place. Ultimately, St. Louis Rams owner Stan Kroenke and his team received 30 votes in favor of relocating the team to LA starting in the 2016 season. Only 24 votes were necessary to make the move happen.
Bringing the Chargers to LA
While nothing official has yet been announced, the voters made the exciting decision to give the San Diego Chargers the option to join the Rams in their new stadium in LA. Bringing two teams to LA would mean more money for the NFL, which gives the organization more incentive to try to get both the Rams and the Chargers in LA.
One of the options that voters considered when deciding the fate of the teams was a proposal that would have brought both the Chargers and Raiders to the Los Angeles suburb of Carson. Ultimately, the NFL owners decided they preferred the plan to bring the Rams to Inglewood with the option for the Chargers to join. Under the terms of the agreement, the Chargers have a one-year option to decide if they want to move to LA and share a stadium with the Rams. Kroenke has also made an offer to take a 50/50 spit on the stadium with a second team that might like to join him and his team.
Whether or not the Chargers will choose to join the Rams seems a bit questionable at this time, as owner Dean Spanos had previously written a letter to the NFL’s Los Angeles committee saying he saw no reason to abandon his partnership with the Raiders to join the Rams. Now that there is no way the Raiders/Chargers partnership will see fruition, however, Spanos just might change his mind. Furthermore, the NFL is giving both the Chargers and the Raiders a $100 million consolation prize if they stay in their current locations. This means Spanos will need to look at all of his options before making a decision for his team. If he lets one year go by without making the move, the Raiders will then have a one-year option to move to Los Angeles with the Rams.
Expected to be the biggest and most expensive venue in the NFL, the new LA stadium will be finished at a projected cost of well over $2 billion. This will make the facility the most expensive sports venue in the history of the United States. Due to the massive size of the stadium, it can easily accommodate two teams equally. Kroenke has reportedly already broken ground on the former site of the Hollywood Park racetrack, which is located next to a large mixed-use development that includes housing, a hotel, office and retail space and a lake. Kroenke is co-developing the area with Stockbridge Capital Group. When finished, the stadium will cover nearly three million square feet and a sail-shaped roof that is twice as big as the stadium. The seating area will hold 70,240 seats in addition to room for 30,000 more in standing room conditions, plus 16,300 premium seats and 274 suites. 9,000 on-site parking spaces will be available along with 1,000 VIP reserved spots beneath the stadium, 3,000 spaces at the neighboring Forum and 41,000 more spaces within a mile and a half of the stadium.
To learn more about what is taking place in Los Angeles and the rest of Southern California, contact our team of luxury real estate experts. We specialize in the most exclusive communities in Southern California.
$3,275,000 : 3141 GILMERTON Avenue, Los Angeles5 beds, 5 baths
$3,695,000 : 4103 ROMA Court, Los Angeles3 beds, 4 baths
$3,395,000 : 1282 CASIANO Road, Los Angeles4 beds, 5 baths
$3,300,000 : 437 N BONHILL Road, Los Angeles5 beds, 4 baths
$3,799,000 : 832 N OGDEN Drive, Los Angeles5 beds, 6 baths
See all City of Los Angeles Luxury Homes For Sale.
(all data current as of 7/24/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.