Arsenal owner Stan Kroenke owes former St. Louis Rams personal seat license holders up to $24m, according to reports in America.
Fox 2 News report that US District Judge Stephen Limbaugh gave final approval to the class action lawsuit against Kroenke and the Los Angeles Rams on Monday.
PSL holders will get 30% of their original purchase price back, a refund of the nine years remaining on the 30-year license when the Rams left for LA in 2016. The PSL price ranged from $250 to $4,500, and about 50% of holders have filed for refunds.
To explain, a Personal Seat License is a paid license that allows the holder the right to buy season tickets for that particular seat in the stadium. You can sell the license on to someone else if you no longer wish to purchase season tickets.
Obviously, those who bought the license when the Rams were located in St. Louis probably didn’t have much use for it when the franchise moved 28 hours drive away to LA. It’s good to see the fans are getting their money back.
As if Kroenke needed more reason to be stingy with his investment in Arsenal.