Three NFL teams have either relocated to another city or declared their intention to do so in the past two offseasons. The St. Louis Rams moved to Los Angeles prior to the beginning of last season, the San Diego Chargers will be joining them this year, and the Oakland Raiders are moving to Las Vegas for the start of the 2019 season.
These teams pay a heavy price, sometimes hundreds of millions of dollars for the right to move, but that’s good for the Jacksonville Jaguars and 28 other NFL teams who aren’t relocating.
(Well, specifically, it’s good for the people that own those teams.)
Darren Rovell of ESPN is reporting that each of the 29 NFL teams not relocating will each receive a little more than $55 million in relocation fees from the three teams that are over the next 11 years. The Raiders will pay $378 million over ten years starting the year they move to Vegas, and the Rams and Chargers will each pay $645 million for moving to Los Angeles.
The relocation fees are commensurate with the projected increase of value that each team is expected to receive because of their moves. In the case of the Rams, according to the list from Forbes Magazine, the Rams saw their value increase by 100% over last season, and they’re now worth $2.2 billion, making them the 12th-most valuable team in all of professional sports.
I don’t know if the $55 million that the Jaguars will receive will mean anything drastic to the team off the field. They’ve already enhanced EverBank Field dramatically since coming under new ownership.
How about some cheaper beer in the stadium, Mr. Khan?