Quote:
Originally Posted by Enoch Root
The only thing that this shows is that the city and state negotiated a bad deal. If you are putting up money for a project like that, it seems pretty straight-forward that you would include a provision that locks the tenant in for the life of the loan.
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They built the thing to entice a team to come there. They didn't exactly have the power in negotiating.
Its a prime example of how the owners use cities against each other to secure funding. Los Angeles wouldn't pay to have the LA Rams stadium updated and St.Louis was dangling tons of money so they left and went there.
The lease was set-up so it could be broken if the stadium wasn't in the top-tier of NFL stadiums so basically as long as new stadiums were being built - the lease was going to be able to broken.