ST. LOUIS — A judge on Monday approved a settlement with the Rams that could mean up to $24 million for personal seat license holders in St. Louis.
Those PSL holders have until Aug. 23 to file for refunds. Payouts should begin in December, lawyers said at a hearing in federal court in St. Louis Monday.
U.S. District Judge Stephen N. Limbaugh Jr. approved the settlement, calling it a “hotly contested case” that was “resolved in a satisfactory way, it appears to the court.”
Under the settlement, which was announced last year, PSL holders will get 30% of the original purchase price, which represents a refund of the nine years that remained on the 30-year license when the Rams left for Los Angeles in 2016.
For a one-time fee, personal seat licenses allow fans to buy season tickets for games, and are often used to raise money to build a stadium. The cost of the licenses varied depending on the location of the seats, ranging from $250 to $4,500.
Lawyers for the license holders called it an “excellent outcome” in filings, pointing out that attorneys fees and other costs will be paid by the Rams separately from the settlement. Limbaugh called those attorneys fees reasonable.
No one has objected to the settlement. One New York resident did send a letter, but lawyer Fernando Bermudez told Limbaugh that the man didn’t understand that the settlement meant a 30% refund and was planning on filing for one. “He wanted to screw the Rams by objecting,” the lawyer said.
As of June 13, about 9,900 license holders had filed for refunds, which is nearly 50% of the entire group, Bermudez said. Lawyers will now make a second round of notifications and attempts to contact license holders.
License holders can file for refunds at RamsPSLClassActionSettlement.com. The Bruning Law Firm also created a video to help PSL holders navigate the process, at bruninglegal.com or on the firm’s Facebook page. PSL holders can also call the Bruning firm at 314-735-8100, the law office of Rick Cornfeld at 314-241-5799, or Goldenberg Heller & Antognoli attorney Kevin Green at 618-656-5150.