An L.A. story involving the St. Louis Rams is resurfacing.
The Los Angeles Times reported Thursday that Rams billionaire owner Stan Kroenke has purchased a 60-acre lot between the Great Western Forum and Hollywood Park, according to sources who wished to remain anonymous.
The Rams moved from Los Angeles to St. Louis after the 1994 season, and the city has been without an NFL team ever since. The Raiders also moved back to Oakland from Los Angeles in '94.
The Rams' lease in the Edward Jones Dome in St. Louis is up after the 2014 season, and the team has been frustrated in its attempts to renegotiate with St. Louis city officials over stadium renovations. In February 2013, the Rams and the St. Louis Convention and Visitors Commission took part in an arbitration hearing involving upgrades to the Dome.
The Rams won the case, and the commission agreed to $124 million to bring the stadium up to date, the Times reported. The Rams, however, have said that the renovations they want come at a $700 million price tag.
Kroenke, who bought the land from Wal-Mart after the retail chain failed to secure public approval to build a superstore, is forcing St. Louis to renegotiate the money it will spend on stadium renovations or risk losing the team.
The Times added, however, that the 60-acre lot would not be large enough to accommodate a stadium and required parking.
A company called Stockbridge Capital Partners owns an adjacent 238-acre lot that houses the recently closed Hollywood Park Racetrack. It wants to turn the Racetrack into a modern residential community, and it was not clear whether Kroenke would attempt to purchase some of that land.
Inglewood Mayor James T. Butts told the Times that he is lobbying for a football stadium that included retail shops, restaurants and entertainment-related businesses.
"It would not surprise me at all that there would be interest in a football stadium," Butts said. "We have been the home of sports teams before, and we have experience working with sports franchises."
A relocation vote requires that 75 percent of the NFL teams - 24 teams must approve the move.
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