NFL owners will vote to increase the debt limit for the Los Angeles Rams' new stadium, which is now expected to cost about $4.963 billion, ESPN's Seth Wickersham reports, citing internal league documents.
It was initially expected that the new stadium in Inglewood was projected to cost about $2.6 billion. The 300 acres of space will include retail space, office space, a hotel, a park and some modern residences. It is being privately financed.
Earlier this month, the team announced that the best seats in the stadium will have a $100,000 licensing bill for Rams season-ticket holders and $75,000 for Chargers season ticket holders. The licensing program serves as a 50-year deposit that helps fund the stadium's construction and after the 50 years, the original stadium seat license cost will be repaid to whoever owns it. Every seat in the stadium is expected to have a licensing bill.
The stadium has a seating capacity of about $70,000 and is scheduled to open in the summer of 2020. The NFL has awarded the Super Bowl in 2022 to the new stadium.
The facility was originally supposed to be ready in time for the 2019 season but construction was delayed by an unusually rainy winter immediately after breaking ground.