NFL owners agree to loan LA Rams another $500m for SoFi Stadium construction

future of NFL remains uncertain for now due to ongoing coronavirus pandemic in USA. MLB, NBA and NFL remain suspended for now as COVID-19 cases continue to rise across US. As of May 20, a total of 1.56m US citizens have been infected by virus with over than 92,000 deaths. Amid this crisis, NFL owners recently met to discuss situation regarding Los Angeles Rams Stium funding. LA-based franchise was running low on funds required to complete construction of state-of--art SoFi Stium in  city of Inglewood. NFL owners met earlier this week to discuss wher league should give go-ahe to Rams Stium funding appeal. association confirmed that league franchise owners agreed to loan $500 million to Rams in order to complete construction of new SoFi Stium.

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Aerial shots of SoFi Stium in Los Angeles

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NFL owners agree to loan LA Rams anor $500m for SoFi Stium construction

Two years ago, NFL owners agreed to lend a record-debt of $2.25 billion for construction of SoFi stium that will soon become permanent home of Los Angeles Rams and Los Angeles Chargers. However, current coronavirus situation has resulted in a lack of demand for personal seat licenses, which grant holders ability to n purchase season tickets. This has forced Rams to demand an ditional loan amount from NFL owners in order to finish work on stium. Reports in LA Times state, " ditional $500 million in stium financing is believed to be a combination of a private loan to Rams owner Stan Kroenke and an increased debt limit on team. Pending approval from fellow owners, Kroenke also would have more time to pay back loan."

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SoFi Stium worth

SoFi Stium worth is valued at a reported $4.9 billion. It is all set to be home to LA Rams and LA Chargers as and when NFL season is given green light to commence. Stan Kroenke-owned franchise have pumped close to $4.963 billion in construction of iconic stium which is rumoured to be a class apart from stiums across globe.  SoFi stium will seat up to 70,240 spectators, with ability to expand it with 30,000 ditional seats for larger events.

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SoFi Stium

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