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  • #1

    Khan Issues Statement About Buying The Rams

    02.12.2010 12:33 pm
    Khan issues statement about buying the Rams
    By Mike Smith
    St. Louis Post-Dispatch


    When it comes to pro sports, nothing says “St. Louis” quite like having your words electronically processed by the Fleishman-Hillard folks.

    And in that regard, potential Rams buyer Shahid Khan already qualifies as a St. Louisan. His only public comments about purchasing the team were transmitted today by the communications and marketing firm:

    “I recently signed an agreement with respect to the purchase of the St. Louis Rams. The proposed transaction is subject to approval by the National Football League and its owners. To that end, I am excited to begin the approval process and will, in accordance with league policy, proceed on a confidential basis and refrain from public comment.

    “As a long time Rams fan and supporter of the City of St. Louis, I am thrilled to have the opportunity to be considered by the NFL and am extremely grateful for the trust placed in me by Chip Rosenbloom and Lucia Rodriguez.”
    Tags: None
    • #2
      Re: Khan Issues Statement About Buying The Rams

      I would recommend that if Khan has no comment that he not be pressed.

      YouTube - KHAAAAAAN!

        Comment

        • #3
          Re: Khan Issues Statement About Buying The Rams

          LOL!!! Good one Alpha. Good movie to go along with it too.

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            • r8rh8rmike
              St. Louis Rams' New Owner Offers Hope
              by r8rh8rmike
              St. Louis Rams' new owner offers hope

              Sports Columnist Bernie Miklasz
              ST. LOUIS POST-DISPATCH
              02/12/2010


              The pending sale of the Rams to Shahid Khan is cause for optimism. Khan represents the classic American success story. It's the kind of story that's made America so great. It's the kind of story that we traditionally root for, and point to, with pride.

              Born in Pakistan, Khan arrived in the U.S. in 1967. He was a teenager then, and St. Louis was Khan's landing spot, his first stop on American soil. Khan went on to earn an engineering degree at the University of Illinois. He married his college sweetheart. He built a successful career and a blissful personal life in America's heartland, living in the Champaign-Urbana, Ill., area for more than 40 years.

              And that bodes well for St. Louis and the Rams' future in our town. Khan has roots in this region. He didn't take his fortune and move to Malibu, Napa Valley, Aspen, the Hamptons or some other trendy spot. Khan remained in the Midwest. And that gives us a legitimate reason to believe he'll want to keep an NFL team in St. Louis.

              Khan is a football fan. He has a luxury suite at Illinois home games. Khan has helped Illinois football coach Ron Zook by giving Zook use of Khan's private jet for recruiting trips. He's been generous in his support of academic and athletic programs at Illinois. ShopSTL Marketplace

              America's Center & Dome / Annual Saint Louis Boat & Sport Show

              In an interview with Mike Owens of KSDK-TV and Marc Cox of KMOV-TV, Zook praised Khan as "a competitor and a winner. He's a very successful man. He's been very successful in everything he's done and there's no reason to think he won't be successful in the National Football League."

              As a bonus, Khan is a Rams fan. He's made that Sunday trip from Central Illinois to attend games at the Edward Jones Dome. Like you, Khan has watched the Rams at their best, and he has seen the Rams at their worst. And that's valuable. Khan figures to have a handle on what needs to be done to pull the Rams from the ditch.

              Provided that there are no glitches or unforeseen problems — and Khan still must gain clearance from NFL owners — he'll be in position to make a positive impact on the franchise.

              And I give lots of credit to Rams majority owners Chip Rosenbloom and Lucia Rodriguez. From the beginning, Rosenbloom told me he would strive to sell the team to someone who wanted to keep the Rams in St. Louis. Someone who, at least from what we can tell, has a favorable view of the city.

              Khan fits that description. And his presence is timely; no wealthy individuals from the immediate St. Louis community stepped up to make a bid to become the majority owner, so Khan can save the day.

              OK, now that we've covered the pleasantries, let's switch gears....
              -02-11-2010, 08:55 PM
            • r8rh8rmike
              Bernie: More On Rams Sale & Shahid Kahn
              by r8rh8rmike
              02.11.2010 11:01 am
              More on Rams Sale & Shahid Khan
              By Bernie Miklasz


              Good morning …

              In no particular order:

              * What are Stan Kroenke’s options? The Rams’ 40 percent owner has three choices. (1) keep his 40 percent and work with Shahid Khan if Khan is approved as the 60 percent owner. (2) sell his 40 percent to Khan. (3) exercise his right of first refusal, try to buy all 100 percent and then take on the NFL to persuade the league to change its rules covering cross ownership. Unless the NFL changes the rules, Kroenke can’t be the 100 percent owner.

              * Perhaps Kroenke will have a fourth option; there are rumors of the NFL Denver Broncos being for sale.

              * Why did Khan gain the advantage over Dave Checketts in the competition for the Rams? Two reasons: (1) The Checketts’ group was financially prepared to buy 60 percent of the team — the piece owned by Chip Rosenbloom and his sister Lucia Rodriguez. If Kroenke wants to opt out of his 40 percent, the Checketts’ group wasn’t in position to buy Kroenke’s 40-share as well. Khan, on the other hand, has the resources to buy all 100 percent if need be. (2) Khan’s bid is a stand-alone deal; he is, for now, by himself on this. (It’s always possible to add partners later). But the NFL likes clean deals. The NFL prefers a one-owner structure. Checketts had cobbled together a network of investors; the ownership pie was being divided among many people.

              * What’s next for Khan? A purchase agreement has been signed. It will take several weeks, perhaps 6 to 8 weeks, for the Rams’ owners and Khan to formally close on the deal, which is a normal procedure. During this waiting time, Khan will likely be vetted by the NFL Finance Committee. Every aspect of his finances and personal background will be inspected by the league, which, again, is standard procedure. If Khan gains clearance from the committee, then the NFL owners will vote on the sale. Khan will need 75 percent of the 32 owners to support him.

              * What about Khan’s dispute with the Internal Revenue Service? Will that be an issue? Obviously, this will draw scrutiny from the NFL’s finance committee. And here is a link to the latest news story on the Kahn/IRS dispute. A couple of things on this: a dispute with the IRS is hardly unusual. This isn’t a criminal complaint; it’s a disagreement on the validity of tax shelters and Khan and his wife paid the IRS the requested amount, $68 million. And now the Khans are challenging the IRS to get the money back. Also, Goldman-Sachs, which handled the sale for Rosenbloom-Rodriguez, thoroughly vetted Khan on this and other financial issues. Goldman-Sachs wouldn’t have forwarded Khan’s bid to the Rams unless the broker had reasonable confidence in Khan’s status and Khan’s prospects for being approved by the NFL. But obviously, questions will be asked.

              * What about Chip Rosenbloom and...
              -02-11-2010, 08:35 PM
            • r8rh8rmike
              St. Louis Rams Owners Weighing 3 Offers
              by r8rh8rmike
              St. Louis Rams owners weighing 3 offers

              By Jim Thomas
              ST. LOUIS POST-DISPATCH
              01/20/2010

              St. Louis Rams owners Chip Rosenbloom and Lucia Rodriguez are closing in on a decision to accept one of three offers to purchase the team or walk away from the bidders and keep the franchise, league sources told the Post-Dispatch on Tuesday.

              A decision could be reached before the NFL draft in late April, not because of any kind of firm deadline, but simply to avoid uncertainty surrounding the team and its future entering the 2010 season.

              All three offers, described as "acceptable" by the sources, are comparable to what the Pittsburgh Steelers franchise recently sold for — which was in the range of total franchise value of $720 million to $800 million.

              The only known bid for the team is from a group of investors headed by St. Louis Blues hockey chairman Dave Checketts. The identity of the other two bidders remains unknown, although one was a relative late-comer in the process.

              The three bidders are committed in varying degrees to keeping the franchise in St. Louis, and that may have an impact on any sale decision.

              Rosenbloom and Rodriguez own 60 percent of the franchise, which they inherited from their late mother, Georgia Frontiere. Frontiere died on Jan. 18, 2008 — two years ago Monday — after a long battle with breast cancer. It is that 60 percent of the team that is for sale.

              Stan Kroenke owns the other 40 percent of the team.

              But at least one of the bids is for the full 100 percent of the team, in which case Kroenke's share would be bought out as well. But if Rosenbloom and Rodriguez end up selling only their 60 percent of the team, Kroenke could potentially scuttle the deal by saying he wants to "cash out," or sell his share of the team as well. If that's the case, the 60 percent investor may not have enough money to buy the full franchise.

              Those close to Rosenbloom say he has yet to get any indication from Kroenke on what he will do, although there have been signals from the Kroenke camp that he will simply hold his 40 percent share of the team if Rosenbloom and Rodriguez sell their 60 percent.

              Kroenke also has matching rights on any outside offers for the team. But under current NFL cross-ownership rules, he would not be allowed to exercise that right as long as he owns majority shares of the Denver Nuggets NBA team and the Colorado Avalanche NHL franchise. Kroenke also owns 29.9 percent of the English soccer club Arsenal, a team valued at $1.2 billion.

              Some clarity could be added to the issue this week. The Rams' brain trust is meeting in Los Angeles today and Thursday for the team's annual end-of-season summit meeting. Kroenke is expected to attend at least one day's worth of the meetings. If Kroenke indicates that he's on board with any...
              -01-19-2010, 09:48 PM
            • MauiRam
              Intrigue behind Rams sale
              by MauiRam
              Sports Columnist Bernie Miklasz
              ST. LOUIS POST-DISPATCH
              11/15/2009

              Let's get down to business. It's time to update the attempted sale of the St. Louis Rams. The process has been secretive for the most part. Obviously, there's a lot that I don't know.

              But after making several rounds of phone calls this week and talking to multiple sources with direct knowledge of the situation, I'll share what I know.

              And I'll also discuss the ongoing effort of Blues chairman Dave Checketts, who is attempting to put together a consortium to purchase the 60 percent of the Rams owned by Chip Rosenbloom and his sister, Lucia Rodriguez.

              Checketts is carrying the football on behalf of St. Louis. That's a positive, but there is a downside, and later in the column I'll explain why.

              Let's get started:

              — No sale is imminent.

              — Several out-of-town interests are pursuing the franchise. And indications are that the potential buyers have communicated a desire to keep the Rams in St. Louis. For example, one potential buyer lives out of state but has business interests here and is thought to be pro-St. Louis.

              That said, no one in St. Louis should take anything for granted. Buyers know that Rosenbloom and Rodriguez want the Rams to remain here. And if a buyer has other motives, it makes no sense to telegraph those intentions to Rosenbloom. Or to the Goldman Sachs investment firm, which is handling sale inquiries.

              — Last Sunday on the CBS pregame show, Charley Casserly identified a new potential buyer: Texas-based banking billionaire Gerald J. Ford. It's true. It's also early. Ford, 65, is a promising candidate. But he hasn't been vetted yet.

              — Casserly also suggested that Rosenbloom and Rodriguez are under pressure to sell before the end of the year, because of estate-tax issues related to the death of their mother, Georgia Frontiere. A source with intimate knowledge of the Rosenbloom-Rodriguez tax issues disputes that.
              Between now and October 2013, Rosenbloom and Rodriguez are obligated to pay interest on the estate-tax bill. They are not required to begin making payments on the principal until Oct. 2013. At that point, the pressure to sell the team would increase, but the source stressed it would still be possible for Rosenbloom and Rodriguez to keep the Rams. An expected increase in the capital-gains tax (in 2010 or 2011) doesn't help Rosenbloom and Rodriguez, but the source insists that isn't an important factor in the sale timetable.

              — Stan Kroenke, who owns 40 percent of the Rams, has remained silent. To buy the available 60 percent, Kroenke would have to convince the NFL to change the rules prohibiting cross ownership. (He owns the NBA Denver Nuggets and NHL Colorado Avalanche.) Kroenke is a key to this. Because if he agrees to stay on as the 40 percent partner, the new owner would...
              -11-15-2009, 09:06 AM
            • HUbison
              Checketts solidifies Rams bid
              by HUbison
              Checketts solidifies Rams bid

              By Bernie Miklasz
              ST. LOUIS POST-DISPATCH
              01/31/2010

              As Jim Thomas of the Post-Dispatch reported recently, the sale of the Rams has been narrowed down to a list of three potential buyers.

              And that hasn't changed, according to multiple sources close to Rams managing ownership partner Chip Rosenbloom.

              Rosenbloom would like to make a decision within a month or two. Rosenbloom and his sister, Lucia Rodriguez, prefer to sell their combined 60 percent share but could opt to hang on to the franchise rather than settle for an unsatisfactory offer.

              One of the three potential buyers is a group of investors organized by St. Louis Blues Chairman Dave Checketts.

              Multiple sources tell me that another group has strong ties to Toronto, which should concern those who want to see the Rams remain in St. Louis.

              As for the third potential buyer ... candidly, I've been unable to nail down that part. But I know it isn't anyone from St. Louis. And I wouldn't be surprised to learn that the bidder is based in Chicago.

              I hope that Checketts prevails in this auction, or the Rams could be in play for a move after the 2014 season.

              Checketts is our best hope to secure a long-term future for the Rams in St. Louis.

              Or to put it another way: Checketts IS the St. Louis offer.

              I trust Checketts to work with area politicians and business and community leaders to solve the looming stadium problem.

              Checketts has made good progress in his Rams efforts. According to multiple sources with direct knowledge of the situation, Checketts has partnered with a formidable money man in Texas billionaire Gerald J. Ford, who was ranked No. 289 on the Forbes list of the 400 wealthiest Americans last fall. Forbes estimated Ford's worth at $1.35 billion.

              Ford, 65, made his fortune by buying and selling banks. He's friends with Dallas Cowboys owner Jerry Jones. A graduate of Southern Methodist University, Ford donated $20 million to SMU in 1997 to help the school build a new football stadium on campus. Indeed, Gerald J. Ford Stadium opened in 2000.

              This is a significant development. For the Checketts bid to comply with NFL ownership rules, one member of his group must control a 30 percent share of the franchise. And multiple sources tell me that Ford is locked in as the 30 percent owner. Ford doesn't want to run the franchise on a daily basis and would leave that to Checketts.

              Ford's addition (at 30 percent) is only part of the equation.

              To cover another 30 percent (including his own percentage) Checketts has been busy lining up additional investors from the St. Louis community.

              The list includes prominent and recognizable names. The investors aren't yet willing to come forward to publicly confirm...
              -02-01-2010, 06:23 AM
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