ST. LOUIS — Officials with the City of St. Louis and St. Louis County announced Thursday they are investing millions in Rams settlement money into treasury bonds until they decide on how to use it to serve its residents.
The historic settlement came from a lawsuit filed by St. Louis, St. Louis County and the St. Louis Regional Convention and Sports Complex Authority or RSA.
According to a press release from the City of St. Louis, with the guidance from the St. Louis Treasurer’s Office, it will invest the $280 million won from the historic Rams settlement in a secure account with the Missouri Securities Investment Program (MOSIP), where the funds will continue to accrue interest and grow.
The MOSIP account offers flexibility and interest. MOSIP and its various services provide school districts, municipalities, counties, and more an opportunity to maximize their income potential with secure investments while adhering to Missouri investment guidelines, according to the release from the city.
Mayor Tishaura Jones said St. Louis worked for years to hold the NFL accountable, and now our patience has paid off with hundreds of millions of dollars in the bank.
“Developing a community-driven plan to use Rams settlement funds will take time, but our investment will accrue interest and grow as we work together to do so,” Jones said. “I look forward to working with the Board of Aldermen to use these funds to make transformative change in our city for generations to come.”
Unlike American Rescue Plan (ARPA) funds, which are bound by U.S. Treasury guidelines and must be spent by the end of 2026, Rams settlement funds face no similar restrictions, according to the release from the city.
In accordance with the settlement agreement, $30 million of the city’s $280 million share must be appropriated by the Board of Alderman before June 30 to keep the funds in the city by investing in the Convention Center, according to the release from the city. If the board does not act by the deadline, the city must give up that $30 million to the RSA.
Following the seating of a new Board of Aldermen, the city will engage community members to educate residents and to hear their recommendations on how best to use this transformative opportunity for St. Louis.
According to a press release from St. Louis County, the $169 million that the County received as part of the Rams settlement will be invested into Treasury Bonds, where the funds will collect interest while discussions continue on how best to use the historic windfall to serve all residents. The investment includes the interest made on the funds since the settlement funds were first invested last year.
County Executive Sam Page said the unprecedented settlement with the NFL has provided their region with the opportunity to make a significant investment in our future.
“By putting this money into Treasury Bonds, we can continue to collect high-yield interest while having thoughtful conversations with the community and the council on the best way to use these funds,” Page said.
As of Thursday afternoon, the County treasurer was working with brokers to get the best return on investment, according to the release from the County. The maturity of the notes ranges from six months to 11 months.
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