What the St. Louis Rams want the Edward Jones Dome to be and what the downtown stadium will eventually become may all depend on the money. The Rams' proposal for the Dome, released on Monday morning, was long on details but said nothing about the potential cost. A report from KSDK News says the CVC estimate for the renovations exceeds $700 million.
That number, if it proves to be accurate, could become the focal point in the negotiations over Dome renovations and a public debate taking place along side those talks.
For context, the Minnesota Vikings stadium plans approved last week call for a brand new facility with a $975 million price tag. Whether or not renovating the Dome for $700 million or building a new facility for roughly $300 million more is a question that many will ask as negotiations play out in St. Louis.
Some experts have said that the Vikings stadium deal established a new precedent for building NFL stadiums, particularly with regards to the public/private split of the costs.
The Vikings will pay for about 49 percent of their new home, $477 million. The state will pay $348 million using revenues from a gaming expansion. The final $150 million will come from the city of Minneapolis.
Using a formula along those lines, the Rams would be paying $343 million. Roughly $200 million of the Vikings' cost will come via loan from the NFL's G4 stadium loan program. The formula for how that would work on a renovation costing this much is not clear.
The rest of the money would likely have to come from some combination of state and local taxes. Even if the Rams and the CVC were to agree to a deal, city and state political leaders would no doubt get involved in any plan that involves tax dollars, which is why this thing may not be resolved for some time.