Vote on Kroenke's Rams ownership plan could take place in summer
By Jason La Confora
There won't be a vote on St. Louis Rams ownership at the upcoming league meetings, though it could come this summer, a source with knowledge of the situation said Tuesday.
Billionaire Stan Kroenke, who owns 40 percent of the Rams, has exercised his right to purchase the full share, but he's facing cross-ownership issues because he also owns the NBA's Denver Nuggets and NHL's Colorado Avalanche. Kroenke has proposed transferring ownership of the Rams to his wife, Wal-Mart heiress Ann Walton Kroenke, as a way to conform with the league's regulations. That scenario was proposed to the NFL's Financial Committee last week when it met in New York.
Kroenke's wife has sufficient wealth to operate the Rams, and one league insider suggested that her family had the wherewithal to purchase four teams given their financial strength.
The league and its owners are considering the matter, but it won't be decided this month at the meetings in Dallas. However, with the next set of league meetings not scheduled until the fall, there is a good chance the NFL will schedule an additional summer meeting, the source said, providing a forum to update ownership on the latest developments with the labor negotiations, as well as potentially take a vote on Kroenke's plan.
The key element would be how much time Kroenke proposes would be required to sell the other sports franchises. Somewhere around 12 months to 18 months likely would sit well with NFL owners, the source said, but a prolonged timetable would not. Kroenke also could attempt to transfer ownership of the non-NFL teams to other family members, but ultimately, any plan must comply with league rules and two-thirds of owners would have to vote in support of Kroenke's bid.
Illinois businessman Shahid Khan reached an agreement with Rams owners Chip Rosenbloom and Lucia Rodriguez on Feb. 11 to buy the team. Khan said last month that he still would like to complete the deal "if the opportunity presents itself."
Re: Vote on Kroenke's Rams ownership plan could take place in summer
If the NFL has a problem with cross ownership rules. I highly doubt they would allow his wife to buy the team. After all, it is a given(?) that Stan would still be the man behind the curtain. In affect, making Stan still the owner. Just not on paper.
On the other hand, if the NFL wants to keep the rule and make it look as if they didn't bend for him... They may allow it to go through.. hmm