Rams Sending Anaheim Notice to Escape Lease

The check is signed, the notification letter written and the brief news release has been prepared. Today the Rams will officially inform the city of Anaheim that they are terminating their lease for Anaheim Stadium, effective Aug. 3, 1995.

“It’s 100%,” said John Shaw, Ram executive vice president. “Our legal counsel, Bob Meyer . . . will deliver the letter and check to the city, notifying the city that we are exercising the escape clause in our lease.”

Anaheim gave the Rams the escape clause in their 30-year lease in 1990, in exchange for the team’s agreement not to block or delay the construction of the Pond of Anaheim.

The clause calls for 15 months’ notice and a $2-million deposit on the bond for the expansion of Anaheim Stadium. The team must pay off the remaining indebtedness, which is estimated to be $30 million, if it terminates the lease.

The Rams can revoke today’s notice at any time, but they will lose their $2-million deposit.

The team has said it remains open to the possibility of staying in Anaheim, but today’s action will free the Rams to negotiate to move elsewhere.

“I wouldn’t expect anything to happen for a while,” Shaw said. “We are in no position at this time to sign a letter of intent to move anywhere, or anything like that. We will take our time and explore all options.”

The Rams believe their opportunities to earn more money are limited by their stadium leaseand the lack of passion in Southland sports fans. They say the interest in cities that failed to land expansion franchises gives them a window of opportunity.