The Los Angeles Rams may have to pay more than $31 million to repay fans who purchased Personal Seat Licenses in St. Louis before the team relocated to California.
When the team first moved to LA, it did not issue refunds for payments to PSL holders who paid for future games at St. Louis’ Dome at America’s Center. They initially tried to bypass the refunds by stating PSL holders needed to be reimbursed from FANS, a state agency in Missouri set up by the venue owner, Regional Convention and Visitors Commission.
However, last month, the ownership of the Rams agreed to settle three class-action lawsuits by PSL holders which were filed back in 2016. The cases were pending since the spring in order to allow both sides to participate in mediation sessions, which led to the settlement agreement. According to the Los Angeles Times, the settlement covers 46,000 PSLs, which were supposed to run through 2024.
The Rams now will pay up to $24 million to settle these lawsuits, with each payment ranging from $75 to $1,350, based on the PSL. Each claim is capped at $24 million, and if they exceed that amount, they will be reduced based on pro rata. The settlement will also cover $7.2 million for the cost of lawyers, which adds up to a maximum payout of $31 million, if the court approves.
Last Updated on December 7, 2018 by Olivia Perreault