Sale update

[Guest]

According to KTRS 550AM's John Hadley in St. Louis, Rams are now negotiating with just one buyer who would own 100 percent of the franchise. This in not good news for st louis. That means Dave Checketts is out because he had a problem comming up with only 60 pct. Mr Roski has said he want to a team 100pct.

[tomahawk247]

Re: Sale update

I thought these guys were after just the proportion owned by the Rosenbloom's, i didnt know they were after Kroenke's share aswell

[TheRammer]

Re: Sale update

It all makes sense now .... Kroenke wants to sell his 40% to get that money to pay for the Aresenal and Mr Roski has been targeting us as a favorite all along to move to LA. I thought it was very odd that we were the favorite or top team to move then out of all of the other potential teams we finally fall from even getting talked about and the Jags and Bills get all the press.... makes sense, his team and the current Rams ownership did good at letting things simmer down to no ones suspicion...

[AvengerRam_old]

Re: Sale update

It all makes sense now .... Kroenke wants to sell his 40% to get that money to pay for the Aresenal and Mr Roski has been targeting us as a favorite all along to move to LA. I thought it was very odd that we were the favorite or top team to move then out of all of the other potential teams we finally fall from even getting talked about and the Jags and Bills get all the press.... makes sense, his team and the current Rams ownership did good at letting things simmer down to no ones suspicion...

Rumor + speculation = overreaction.

First of all, Hadley is often wrong.

Second of all, even if he's correct, it is entirely possible that Checketts or another bidder obtained more investors to be able to afford to buy the whole team.

Third, even if Roski is the bidder, that does not mean the team will move to Los Angeles.

Let's keep our heads about us until we have some actual information, shall we?

[MoonJoe]

Re: Sale update

Let's keep our heads about us until we have some actual information, shall we?

Why change course now?

[helorm341]

Re: Sale update

Bernie has said in his forum that his sources all say this is false and that the three bids are still open. Also said that he has heard Kronke does not intend to sell his portion.

Basically he said Hadley doesn't know what he's talkin about

[LA Rammer]

Re: Sale update

Rumor + speculation = overreaction.

First of all, Hadley is often wrong.

If this team moves back to LA I see there are going to be a lot of hurt feelings! HA! The Rams are coming home!!!

Change this website's name to LA Clan Ram .com ;)

[AvengerRam_old]

Re: Sale update

If this team moves back to LA I see there are going to be a lot of hurt feelings! HA! The Rams are coming home!!!

Change this website's name to LA Clan Ram .com ;)

For me, the only difference would be a longer flight to the Bash.

That said, I don't think it will happen.

[LA Rammer]

Re: Sale update

For me, the only difference would be a longer flight to the Bash.

Bash hmm...? I never thought of that. Means I will finally get a chance to attend?

At any rate I found the story, here it is:

RAMS NEWS…
January 27th, 2010

THIS AND THAT…

CLOSING IN
As I first reported on KTRS-Radio on January 15, the Rams hierarchy would narrow their list of potential buyers to begin focusing on finalizing a deal to sell team.
A few days later, the St. Louis Post-Dispatch printed a story with additional details.
Last night on KTRS (The Big 550), I reported the Rams hierarchy have found themselves a frontrunner.
While I’m not at liberty to report the name of this potential owner… I can offer a few facts:
*This owner would control 100 percent of the team meaning Stan Kroenke would sell his share of the team.
*This owner has the funding to devour the entire cost of the team however will not be bound by any agreement to keep the team in St. Louis beyond the current restraints however is committed to working with the city to ensure the franchise remains in St. Louis.
*While all parties are playing their, respective, cards close to vest, it’s possible that this potential owner could finalize a deal by within the next six to eight weeks.
*Many are speculating that a potential sale could be snagged by an NFL work stoppage in 2011… keep in mind the NFL teams will receive network TV monies in 2011 regardless of potential labor strife.
Once again, as is always the case, there is a reason why my source is reporting this potential buyer as “the frontrunner” simply because in complex negotiations road blocks are avoided throughout the journey.
That noted, as of today… my source insists the frontrunner… is one that will hold the 100 percent of the reins of this franchise with a deal that could be reached within six to eight weeks.

THE DOLLARS…
I’ve been told that suggestions the Rams dismissed trainer Jim Anderson was in part for financial reasons… are misguided.
In fact, I was told his replacement will minimally earn the salary afforded Anderson, and a likely slightly north of that figure.

[RebelYell]

Re: Sale update

First of all, Hadley is often wrong.

I'd exchange OFTEN for USUALLY. Same thought process though.

[general counsel]

Re: Sale update

The appropriate legal question in the M&A context is whether the Rams have granted one buyer an exclusive at this point in the process (which is not uncommon). It is often the case that after several rounds of bidding and negotiations, the owner of the company/asset, with the help of its investment bankers, selects one bidder to negotiate with in order to get the finish line on a definitive purchase agreement. At some point in the process, it is no longer viable to negotiate with multiple bidders due to the nature of the due diligence process and the complexities of the legal negotiations. This is especially true in situations where the company for sale is not a public company, but even in public company deals, exclusivity at a point in the process is not uncommon, albeit accompanied by break up fee provisions that provide protection to the company's board of directors in the event a higher bid comes up.

Thus, while there can still be multiple bidders "hanging around the hoop," it may be the case that the rams have narrowed their negotiations for now to one bidder. One thing we know for sure. Goldman Sachs is the best in the business at running an M&A process and they are going to be incredibly discrete about what information leaks out at this point.

ramming speed to all

general counsel