Three NFL Teams Vying To Move To Los Angeles Market
After 20 years without a National Football League (NFL) franchise, Los Angeles, the second largest media market in North America, is now set to get one, two or maybe even three NFL franchises.
There are three teams that have filed requests to relocate to the Los Angeles market in time for the next NFL season - the San Diego Chargers, the Oakland Raiders and the St. Louis Rams. The Chargers and Raiders are seen as being near locks to move to Los Angeles, while the Rams are a bit more of a long shot. The Rams used to play in the Los Angeles market before moving to St. Louis after the completion of the 1994 season.
St. Louis is desperately trying to keep its football team, while Oakland and San Diego seem to be resolved to losing theirs. In fact, the fans of both the Chargers and the Raiders gave their teams one final send-off after the completion of their final respective home games.
The Chargers and Raiders, should they move to Los Angeles, would eventually share a new $1.7 billion stadium in Carson. There is precedent for two teams sharing the same stadium, as the New York Giants and New York Jets currently share the MetLife Stadium in East Rutherford, New Jersey.
The St. Louis Rams, on the other hand, want to build a $1.9 billion stadium in Inglewood. Stan Kroenke, owner and chairman of the St. Louis Rams, has been unreserved in his desire to move his team to the Los Angeles area. Kroenke has called St. Louis' stadium proposal grossly inadequate and has also said that the city "lags" other major cities in the United States. Let me move the team to Los Angeles, Kroenke has said, and the entire league will benefit.
The Rams, Chargers and Raiders all have one thing in common - they all possess some of the league's lowest franchise values. According to reports, any team that moves to Los Angeles will experience a sudden surge in both revenue and franchise value. Some have estimated that any team that moves to LA will see their values increase by over a billion dollars overnight, so you can see why there is so much interest in making the move. NFL franchise values are much higher than those of other professional sports leagues, thanks, in large part, to the NFL's superior TV deals. If the Los Angeles Clippers are worth $2 billion, any NFL team that is based in Los Angeles would surely be worth at least double that. As of this moment, the Rams, Chargers and Raiders are all estimated to be worth $1.5 billion. This is why the owners of the three franchises would gladly pay the required $550 million relocation fee in order to move their team, as the financial benefits of the move would be immediate.
All three of the teams applying for relocation are essentially burning down their current fan bases in order to precipitate the moves. The St. Louis Rams, in particular, have been cold-hearted when it comes to noting the reasons why they should be allowed to move their franchise.
In the end, don't be surprised if the Chargers and Raiders are allowed to move, while the Rams may be forced to stay put. If this happens, don't expect Stan Kroenke to be too pleased, as he will be missing out on a pile of money, plus he will be forced to answer to a none-too-pleased fan base in St. Louis.
Filed under: General Knowledge