JEFFERSON CITY, Mo. – Even as Missouri considers whether to spend more than $400 million to partly finance a new stadium for the National Football League in St. Louis, the man leading the state’s effort said Monday that the league has made no commitment to stay here.
Dave Peacock, the former president of Anheuser-Busch who was tasked by Gov. Jay Nixon to lead the state’s stadium financing effort after Rams owner Stanley Kroenke has floated the idea of moving the team to a more lucrative environment, appeared before a House committee to detail the state’s plan.
Peacock said no stadium would be built without a commitment from the league that it would place a team here, but – even as plans about how the state might take on new debt to help fund the stadium are being devised – he said he has received no such commitment.
In order for that to happen, he said, the state must show its hand, and, “Some level of public financing is going to be very important.”
“If you can demonstrate you have the property, the land, and design that works,” Peacock said the N.F.L. has told him, “you will ‘control your own destiny.’”
Legislators are interested in how it would be funded by the state. Nixon has suggested extending some amount of tax credits to the Rams, and that the bonds being used to pay for their current home, the Edward Jones Dome, might be able to be extended to cover the state’s share of the new stadium. Still, some legislators want to be able to approve such a plan, first.