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  1. #1
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    Demoff Answers Questions On Rams Sale

    02.11.2010 5:07 pm
    Demoff answers questions on Rams sale
    By Bill Coats
    St. Louis Post-Dispatch


    As first reported Wednesday night by Post-Dispatch columnist Bernie Miklasz on STLtoday.com, St. Louis Rams owners Chip Rosenbloom and Lucia Rodriguez have entered into a purchase agreement to sell the team to Shahid Khan, an auto-parts manufacturer based in Urbana, Ill.
    On Thursday afternoon, Kevin Demoff, the Rams’ executive vice president of football operations and chief operating officer, held a news conference at Rams Park. Here are some excerpts from that session:

    *Where does the process go from here?
    “Once an agreement is submitted to the league, (minority owner) Stan Kroenke has 60 days in which to decide his intentions per his original agreement with the club. And then depending on what Stan does, the league Finance Committee will look at the process and make a recommendation on any potential owner. And then it will go to the owners for a vote. . . .
    “There’s a league meeting next month in Orlando and a follow-up meeting in May. I think it’ll probably be a topic that’s discussed at both of those meetings.”

    *How strong is the commitment to keeping the Rams in St. Louis?
    “Today is a tremendously exciting day for the organization, because whether or not a sale to a prospective buyer goes through, I think it reaffirms to everybody the commitment this club has to St. Louis and our belief in this marketplace. . . .
    “Chip and Lucia have always said they want to find a buyer here, that they remain committed to finding a buyer here, and they’re passionate about St. Louis and this market. Whatever happens, I think people realize that they’re genuine about their passion for the market, this club is genuine about our efforts to be in the community and advance this team forward. . . .
    “There was obviously some skepticism based on some of the rumors swirling around the team. Whatever happens this year, I think that’ll be alleviated and people will see this organization for what it truly is: a group that is dedicated to winning on the field, improving the experience at the dome, and connecting to this community, so that people eventually realize that the Rams are St. Louis’ football team and will continue to be St. Louis’ football team.”

    *For now, is it business as usual at Rams Park?
    “On Monday, we’ll continue to hold our personnel meetings regarding free agency. Next week our scouts will travel to Indianapolis for the (NFL Scouting) Combine. . . .
    “I promise you that March 5, the league year will open up, and we’ll be hosting free agents and looking what can be done to improve this team. I promise you that in April, we’ll be submitting a card to draft a player in the first round.
    “None of that will change.”

    *Are you under any financial restraints because of the pending sale?
    “We walked through a budget process in December, we walked through that process again for players in January when we met with ownership. I have not heard of any changes in the budget.
    “We’re excited to go into free agency and the draft this year and find ways to improve this football team. And I know (general manager) Billy (Devaney) and (coach) Steve (Spagnuolo) are hard at work focusing on that.”

    *Is there a sense of urgency to prove to a new owner that this team is going in the right direction?
    “I feel a sense of urgency every day we wake up to improve this product. I think if you look at 6-42 over the last three years, it’s unacceptable to the fans no matter who the owner is. . . .
    “Winning football games is a priority for this franchise. How we operate shouldn’t depend on the urgency. . . . It’s not far for us to say winning is urgent because ownership is in flux or we’re in transition. 2010 is
    an important year for us to show the fans of St. Louis that we’re going to improve this product.”

    *Is it too optimistic to think that a vote of the owners could take place at the May meeting?
    “I think that’s probably a reasonable timetable. After that, you’re looking toward August or September. . . . I think it’ll obviously depend on what happens over the course of the next two months. There are so many variables as you move forward in this deal. It’ll also depend on when the agreement is finally signed and submitted. . . .
    “I would expect hopefully (a deal is completed) toward the end of the spring.”

    *Will a change in ownership affect the team’s Dome lease?
    “That’s very clear: The Dome lease is with the Rams; it’s not with an individual ownership group. . . .
    “We’ve had a tremendous improvement in our relationship with the Dome in the last year, and we continue to work on that. Obviously, no matter who the ownership is, the lease will remain the same, the clauses in the lease will remain the same, and we’ll have to work through the issues in making sure that the Dome is a place the fans enjoy going every Sunday.”


  2. #2
    general counsel's Avatar
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    Re: Demoff Answers Questions On Rams Sale

    "I have not heard of any changes in the budget"

    Interesting choice of words. There may or may not be changes in the budget coming, that will be interesting as per my other post.

    Some m and a agreements require management in accordance with a pre approved budget (which would then be attached as an exhibit to the merger or stock purchase agreement). If that was the case here, it would help the rams because it would mean that chip would be less likely to shy away from spending money in free agency. That is sheer speculation, since no one has seen a copy of the purchase document.

    ramming speed to all

    general counsel


  3. #3
    TheRammer Guest

    Re: Demoff Answers Questions On Rams Sale

    HaHa it's funny how everyone is have so much grown up conversations about Mr. Khan... yay!!!
    Anyways He is a US citizen and I'd rather someone instead of a foreigner from anywhere by our team not only that but he is a avid Ram fan which I respect and appears he cares and wants to make this team a winner.. Which is the most important thing of all subjects involved..
    Last edited by Nick; -02-14-2010 at 02:36 PM. Reason: When will you figure out that personal shots/criticisms are off limits?

  4. #4
    helorm341 is offline Registered User
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    Re: Demoff Answers Questions On Rams Sale

    Quote Originally Posted by general counsel View Post
    "I have not heard of any changes in the budget"

    Interesting choice of words. There may or may not be changes in the budget coming, that will be interesting as per my other post.

    Some m and a agreements require management in accordance with a pre approved budget (which would then be attached as an exhibit to the merger or stock purchase agreement). If that was the case here, it would help the rams because it would mean that chip would be less likely to shy away from spending money in free agency. That is sheer speculation, since no one has seen a copy of the purchase document.

    ramming speed to all

    general counsel
    I don't think he was playing a word game or anything, he was probably just telling the truth and hasn't heard any specific instructions yet

    I doubt it changes much anyway, in the NFL it's not like you can go wild (Yes, even with the no-cap year you still can't go on a spending spree).

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