There is a $2 billion difference in valuation between the two NFL teams in Los Angeles: the Rams, worth $8 billion, and the Chargers, worth $5.83 billion. This gap is largely due to stadium economics, not team performance.
The Rams, owned by Stanley Kroenke, own and operate SoFi Stadium, where both teams play, and retain about 85% of the stadium’s revenue, including all income from non-NFL events. The Chargers, owned by the Spanos family, are tenants and receive only about 15% of the suite and sponsorship revenue and none from non-NFL events.
The Rams’ significant control over stadium revenue, including lucrative events like concerts by Taylor Swift and others, and a $625 million naming rights deal, has helped boost their value. In contrast, the Chargers have less access to these additional revenue streams.
The Rams have also benefited from a recent Super Bowl win, while the Chargers have had less on-field success since moving to Los Angeles. Despite the high costs of building SoFi Stadium and moving the team to LA, the Rams’ value has increased significantly, whereas the Chargers’ growth, while still substantial, has been more modest.