Brokerage firm buys naming rights to Rams' dome

ST. LOUIS -- Brokerage firm Edward Jones will pay more than $31 million to plaster its name over the dome home of pro football's St. Louis Rams for the next dozen years, ending the Rams' nearly yearlong effort to sell naming rights to the enclosed stadium.

Under the deal announced Friday, the company will shell out an average of $2.65 million over the next 12 years to have the site called the "Edward Jones Dome," with an 11-year option raising the payout over the 23-year partnership to $73.6 million.

"This just felt right," John Bachmann, managing partner of the brokerage firm based in the St. Louis suburb of Des Peres, said during a news conference that included Rams owner Georgia Frontiere and team president John Shaw.

The Rams had been looking for a new partner since the former Trans World Airlines gave up its naming-rights deal last February to what had been the Trans World Dome after filing for bankruptcy. TWA was later bought by American Airlines, which already had its name on sports arenas in Dallas and Miami and didn't see the need for a third such deal.

In recent months, the site was dubbed the Dome at America's Center.

Shaw declined to reveal other bidders, saying only that Edward Jones offered a bid competitive to what H.J. Heinz Co. will pay for naming rights to Pittsburgh's new stadium -- $57 million over 20 years.

Got less than expected

Like the Rams, the Steelers wanted more, seeking $90 million to $100 million. Both teams got far less than the NFL's expansion Houston Texans, who have a $300 million, 32-year deal with Reliant Energy, and the Washington Redskins, who will get $205 million over 27 years from Federal Express.

Still, Bachmann said, "the starting price was not a number we could afford." While saying he could not recall that figure, Bachmann said the brokerage firm found the closing price a good investment after months of negotiations.

"It's a chance for us to have our name associated with the city and the best team in football," he said, alluding to the Rams being two victories away from their second Super Bowl championship in three years. "It's just good business."