Rams Rumors: League Owners Approve Another $500 Million Loan For Completion Of SoFi Stadium
Mark Holtzman – West Coast Aerial Photography; Inc.

The Los Angeles Rams 2020 offseason will likely be one the organization will never forget. With the coronavirus (COVID-19) pandemic causing major setbacks to all professional sports, it will be hard to forget for any person or team, but the Rams also had issues on a more personal level.

To start the offseason, they had to make the tough decision to let go of former star running back Todd Gurley. Additionally, multiple construction workers contracted coronavirus while working on SoFi Stadium.

Now, the Rams have found themselves in the headlines once more, again in regards to SoFi Stadium. According to Daniel Kaplan of The Athletic, NFL owners have approved a $500 million loan to the Rams for their stadium:

This will be the Rams’ second loan for SoFi stadium after borrowing an initial $400 million for the project. According to Charean Williams of Pro Football Talk, SoFi Stadium initially was estimated to cost $2.2 billion, but now is being estimated between $5 billion and $6 billion. Also of note, the Rams have requested to pay off this loan over the course of 30 years instead of the NFL’s typical 15 years. There has been speculation that due to a lack of personal seat license sales, the Rams made the request for an additional loan.

While this will certainly raise some eyebrows, there is no denying the importance of the stadium. SoFi Stadium will be a premier stadium for the sport of football, the NFL and the city of Los Angeles. Being the most expensive NFL venue ever constructed, SoFi Stadium should be able to provide plenty of jobs and entertainment for L.A. residents.

SoFi Stadium is already the planned site of the 2028 Olympic Games, the 2023 College Football Playoffs National Championship Game and the LA Bowl, a new annual college bowl game, among other big events. SoFi Stadium was expected to open up this summer with a pair of Taylor Swift concerts and a Guns N’ Roses concert, but due to coronavirus, those events have been cancelled.

That means that the Rams’ first home preseason game against the New Orleans Saints will likely be the first event at the new stadium.