U.S. Markets closed

Judge approves settlement in St. Louis Rams PSL lawsuit

Josh Alper

The Rams left St. Louis for Los Angeles a few years ago, but remained involved in litigation with personal seat license holders from their former home until late last year.

PSL holders were seeking money back for the nine remaining years on the Rams’ lease in St. Louis and a settlement reached by the two sides last November set them up to get a refund on the money originally laid out. The lease was for 30 years, so the PSL holders will get 30 percent of the initial price refunded to them. On Monday, U.S. District Judge Stephen N. Limbaugh Jr. approved the settlement.

Limbaugh said the suit was “resolved in a satisfactory way” and the St. Louis Post-Dispatch reports that refunds could total $24 million. PSL holders have until August 23 to file for refunds and about 9,900 refund requests have already been made.

The settlement also calls for the Rams to pay the attorney fees for the PSL owners outside of the overall settlement amount. Daniel Kaplan of TheAthletic.com reports they will pay out $7.2 million to cover those costs.