The Rams have agreed to pay up to $ 24 million in personal seat license holders in St. Louis for the unused portion of their PSL after the team moved to Los Angeles.
Attorneys representing thousands of St. Louis Rams PSL Holders filed a request for approval with the US District Court on Wednesday.
This follows last week's news that the parties had settled in a class action lawsuit shortly after NFL owners approved the relocation of the St. Louis Rams to Los Angeles on January 1
The Rams also agreed to pay attorney's fees and costs of up to $ 7.4 million – a figure paid separately from the $ 24 million.
Rams executive Kevin Demoff did not respond to a text message looking for a comment.
It could take six months or more for authorized PSL holders to receive money, which is done in the form of checks sent directly from the Rams. The procedure for requesting an award can not commence until the court issues a provisional approval, which is expected in six to eight weeks.
"This is the first step in the process," said A.J. Bruning, lawyer of one of the companies representing PSL owners. "If the court provisionally approves (agrees) the agreement, a website will be set up for people to go to and they can file an application. And this will happen 10 days after the preliminary approval and remain open for 180 days.
Once provisional approval is granted, the Rams will send notices to each PSL holder listed in their database by email or email. However, this database is incomplete and those who believe they qualify for an award are asked to review the site as it becomes active.
"There is no disadvantage in asserting a claim," said Fernando Bermudez, lawyer representing another PSL-owned company.
Even PSL holders who have canceled the purchase of tickets without transferring their PSLs may be eligible for a premium if they have not been terminated by the Rams.
Personal seat licenses were a one-time fee The buyer has the right to buy season tickets for Rams games in St. Louis. (The actual cost of the ticket was extra.) The original PSLs were valid for 30 years, or the duration of the original stadium lease in St. Louis.
The Rams left for Los Angeles after just 21 seasons. The settlement grants PSL holders the equivalent of nine years of their PSL purchase price, which is 30 percent of their original value.
Depending on the value of the purchased PSL, the comparison can bring a price of just $ 75 or up to several thousand dollars per person.
"This is an important day for St. Louis and for the Rams fans, the loyal fans who originally bought the PSLs," said Ryan Bruning, AJ's brother and part of the law firm Bruning. "When we filed this lawsuit, we wanted to reimburse the nine years they lost from NFL football in St. Louis. And that's exactly what we got.
When the Rams moved to St. Louis, there were six PSL prices for season ticket holders – the higher the price, the better the seat in what is now the Dome of America Center. These price levels were $ 250, $ 500, $ 1,000, $ 2,500, $ 3,000 and $ 4,500.
So, if you bought a ticket with a price of $ 250 PSL, your price is 30 percent of that PSL or $ 75. If you bought two $ 250 PSL, your award is $ 150. And so on.
On the other side of the spectrum, suppose you bought six tickets worth 4,500 PSL. That would mean that you originally paid $ 27,000 in PSL fees ($ 6,400), so your price would be 30 percent of $ 27,000 – or $ 8,100.
"This is a good deal for PSL owners," said Bermudez. "Of course we would have wished more. Of course, the Rams would have wanted less. But with the help of a former Judge of the Missouri Supreme Court (Ray Price), we came to a reasonable number that everyone could live with. "
Price served as an intermediary in the case, which had since been in settlement talks the summer.
There were actually two classes in the class action lawsuit.
Bruning's company was involved in the so-called "FANS Class" – it represented the original PSL holders who purchased season tickets from the FANS Inc. Citizens' Group. The team moved to St. Louis.
The Bermudez company was involved in the so-called "Rams class" – representatives of PSL who bought their PSL after March 31, 1996, when the Rams took over the PSL process. The "Rams class" also includes owners of original PSLs who later transferred their PSLs or upgraded them to a higher-priced PSL.
Because the wording in the FANs and Rams PSLs was different, the legal arguments in each class and in the lawyers for each class were essentially worked through to the end of the process. Nevertheless, the prize money is the same for both classes.
Within weeks of the NFL's resettlement vote, three separate lawsuits were filed against the Rams against the Rams. The three lawsuits were then summarized into one: McAllister v. Chr. St. Louis Rams. Ron McAllister, a PSL owner of Eureka, was one of the original claimants.
McAllister spent years with Ryan and A.J. Bruning and her father Tony Bruning – also a lawyer of the family company. McAllister attended 169 of the 172 Rams regular season and the playoff home games in St. Louis and has the ticket stubs to prove it.
"Personally, I was hurt, disappointed and annoyed that the Rams leave the city and leave us high and dry," McAllister said. "From the consumer's point of view, however, I have paid a personal seat license ($ 1,000).
"I was told I would get a product for which I paid good money for 30 years. And after the 21st year, the team decides to go alone. So I contacted these people and said, "I want my money back, I want a refund, I did not get what I paid for."