When the Houston Oilers moved to Tennessee before the 1997 season, their estimated relocation fee was a reported $30 million.More news: Dow Jones Closes at Record High for Second Straight Day
Neither Rams owner Stan Kroenke nor Chargers owner Dean Spanos raised an eyebrow when fellow National Football League owners informed them they'd have to fork over $550 million up front - or more if they opted to pay over 10 years - for the right to move to their teams to the second-biggest market in the country.
Per ESPN.com's Darren Rovell, the Rams and Chargers will each pay $645 million over a period of 10 years from 2019 to 2028, and the Raiders will pay a total of $378 million over 10 years starting with the year they move to Las Vegas.More news: Honda Accord Debuts With Turbo Engines, 10-Speed Transmission
Between the three teams' relocation fees, each of the NFL's 29 other teams will receive an annual sum of $55.2 million. Green Bay Packers president Mark Murphy told Rovell the 29 teams will begin receiving payments will arrive December 31, 2019.
The Rams and Chargers and Raiders are adding value to their franchises by moving.More news: Trump defends son's meeting with Russian lawyer
The Raiders were ranked 34th and are valued at $2.1 billion, a 47 percent increase from previous year. The Rams were listed as the 12th-most valuable franchise in the world by Forbes this week and are reportedly worth $2.9 billion. This year, they're up eight spots after a 36 percent bump to $2.08 billion.
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