Report: NFL fee for team relocating to Los Angeles at least $500 million
The NFL owners have decided to charge a relocation fee of between $500 million and $600 million to any team that wants to move to Los Angeles, reports Daniel Kaplan of the Sports Business Journal.
According to SBJ, a source said that fee will be a minimum of $500 million and could possibly be raised.
The most recent NFL relocation fee, paid by the owners of the Houston Oilers when the team moved to Tennessee and became the Titans, was just $29 million.
NFL owners met in the league office in New York on Nov. 11 and 12 to discuss the proposed moves of St. Louis, San Diego and Oakland, two weeks after the teams held public hearings.
Los Angeles has not been home to an NFL team since both the Rams and Raiders moved after the 1994 season.