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Rosenbloom confident on Rams sale ..
BY JIM THOMAS Posted: Tuesday, August 3, 2010 12:08 am
With a scheduled vote three weeks away on Stan Kroenke's bid to purchase the St. Louis Rams, team owner Chip Rosenbloom remains confident the deal will get done.
"We're optimistic that the transaction will be supported by the owners and the league," Rosenbloom told the Post-Dispatch on Monday. "Our relationship with Stan has been and continues to be excellent. We're finalizing documents and expect it to be voted on Aug. 25."
Rosenbloom's comments come on the heels of a SportsBusiness Journal report that some members of the NFL finance committee were upset at Kroenke's two-tiered approach to purchasing the Rams.
Kroenke exercised a right of first refusal in April, in essence deciding to match the bid by Illinois businessman Shahid Khan to purchase the 60 percent of the Rams currently up for sale by Rosenbloom and sister Lucia Rodriguez.
It's believed that Khan's offer was not a single-payment offer. In other words, Khan would pay part of the franchise purchase price initially, and then buy the rest of Rosenbloom's and Rodriguez's 60 percent share at a later date.
Kroenke "inherited" those terms when matching Khan's offer. But realistically, the terms probably have been tweaked over the course of discussions and meetings involving Kroenke, Rosenbloom and the NFL.
It's not that Kroenke couldn't pay cash in one installment if he had to. In fact, he paid cash for his current 40 percent share of the Rams when the franchise moved to St. Louis in 1995.
But on one level, it seems puzzling if members of the finance committee indeed are against a two-tiered payment method by Kroenke because there is precedence for such purchases. Most recently, Arthur Blank bought the Atlanta Falcons in two installments, as did Steve Bisciotti with the Baltimore Ravens.
The NFL is scheduled to vote on Kroenke's bid Aug. 25 in Atlanta.
Through a spokesman, Kroenke declined to comment.
Re: Rosenbloom confident on Rams sale ..
What a wuss. The more I read about him the more ,,,,well you know.
GO RAMS BEAT the she hawks
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