Announcement

Collapse
No announcement yet.

Will Kroenke's soccer moves affect The Rams?

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
  • #1

    Will Kroenke's soccer moves affect The Rams?

    Would he sell his stake in The Rams to finance this?

    From the Associated Press:

    Updated Mar 26, 2010 2:58 PM ET
    American businessman Stan Kroenke has increased his stake in Arsenal and is now within 10 shares of the threshold that forces him to make a takeover bid.

    Kroenke, who owns 29.9 percent of Arsenal, acquired seven more shares Thursday at a cost of 8,500 pounds ($12,650) each, the Premier League club said Friday in a statement to London's Plus Market stock exchange.





    If the Denver-based businessman reaches 30 percent, he has to make an offer for the remaining shares in Arsenal Holdings plc.

    If Kroenke manages to acquire more than 50 percent of the shares he will gain legal control of the club. If he reaches 90 percent he can compulsorily purchase the remaining shares.

    But if he fails to surpass the 50 percent level, he is prohibited from making another takeover bid for at least a year - unless asked to do so by the club.

    Russian businessman Alisher Usmanov - the club's second-largest shareholder - signaled his interest in a takeover in December by taking his stake beyond 26 percent through his investment vehicle Red and White Holdings.

    Unlike Kroenke, Usmanov has not been invited on the board of directors.

    Kroenke, who first bought a 9.99 percent stake in Arsenal in April 2007, also owns the Colorado Rapids of Major League Soccer, the NBA's Denver Nuggets and the NHL's Colorado Avalanche.

    Arsenal remains in contention for the Premier League and Champions League titles this season. The club is two points behind leader Manchester United going into Saturday's match at Birmingham, and faces Barcelona on Wednesday in the first leg of their European quarterfinal.
    Tags: None
  • #2
    Re: Will Kroenke's soccer moves affect The Rams?

    I don't see why it should, his ownership of several Colorado teams hasn't impacted on his part-ownership of the Rams, and that he's been seen mixing with Khan suggests he'd be happy for them to co-own the Rams.

    Besides, the Arsenal board seem to like having many wealthy co-owners rather than one owner, it wouldn't be hard for them to make sure he can't aquire the 10 more shares he needs to become full owner.

    Comment

    Previous template Next

    Related Topics

    Collapse
    • MauiRam
      Kroenke waiting for move on Rams
      by MauiRam
      Bernie Miklasz bjmiklasz @post-dispatch.com 314-340-8192
      ST. LOUIS POST-DISPATCH
      06/14/2009

      One of the more compelling aspects of the Rams' sale is the role of Stan Kroenke in the proceedings. Rams owners Chip Rosenbloom and Lucia Rodriguez, team insiders and other NFL executives and owners are wondering: what is Kroenke going to do? Is he going to make a play for control of the team? And if so, when?

      Don't expect Kroenke to lay his plan out for us. He's staying underground on the Rams' front and not returning media calls. He's not about to give away any clues on his Rams' strategy.

      Kroenke, worth an estimated $3 billion, is a busy sports mogul. He owns 40 percent of the Rams. He owns the NBA Denver Nuggets, the NHL Colorado Avalanche and the Pepsi Center in Denver. He owns the Major League Soccer franchise in Colorado and the stadium that houses the team. He is the majority shareholder (28.3 percent) of the prestigious Arsenal soccer club in the English Premier League. Kroenke owns a pro lacrosse team, an arena football team, and a Colorado-based cable-sports network.

      And Kroenke's real-estate development company continues to prosper, making him one of the nation's wealthiest individuals according to Forbes magazine.
      So does Kroenke want to buy the available 60 percent ownership block and challenge NFL rules that prohibit cross ownership? Or is he content to hang onto his 40 percent, oversee his other sports properties, concentrate on accumulating more Arsenal stock and avoid a skirmish with the NFL?

      After speaking to a couple of Kroenke associates — sorry, no names — I think I have a general handle on his approach. But I can't be sure. Remember, this is the same Kroenke who made no noise about being interested in the Nuggets and the Avalanche, only to swoop in and buy them at the end of the process. Kroenke waited until the collapse of Bill Laurie's tentative deal for the teams, then made his move. And Laurie is Kroenke's brother-in-law, but Laurie knew nothing of Kroenke's intentions.

      I believe Kroenke will sit and wait for others to make the first move.

      It makes sense, because Kroenke has the right of first refusal on the Rams' sale. He can match any offer for the available 60 percent. By hanging back, Kroenke won't set the market and take the risk of bidding against himself to meet Rosenbloom's price. Instead, it's smarter for Kroenke to wait for another interested party to set the market, then react accordingly.

      If another bidder makes an offer on the lower side, and the price is acceptable to Rosenbloom, then Kroenke can match the offer and get a relative bargain. He can save millions of dollars on the purchase. If Kroenke gets a great deal, then he may be more inclined to fight the league over that 60 percent.

      And what if another bidder rushes in and pays whatever Rosenbloom-Rodriguez...
      -06-14-2009, 11:26 AM
    • MauiRam
      Will Kroenke make a sweetheart deal?
      by MauiRam
      By Jim Thomas
      ST. LOUIS POST-DISPATCH
      04/18/2010

      Stan Kroenke's attempt to finesse the NFL cross-ownership rules may not involve a transfer of hockey and basketball teams in Denver to his family. But rather a sale — to his wife, Ann.

      According to a couple of league sources that tactic could be Kroenke's best hope of getting the NFL to approve his attempt to purchase the 60 percent of the Rams currently up for sale by siblings Chip Rosenbloom and Lucia Rodriguez.

      As wealthy as Kroenke is, he comes in second place at home. At $2.9 billion, he was ranked No. 342 on Forbes' most recent annual list of world billionaires. His wife, Ann, heiress to much of the Wal-Mart fortune, was ranked No. 297 at $3.2 billion.

      So what happens if Ann Walton Kroenke "simply" writes a check for the Denver Nuggets NBA team and the Colorado Avalanche NHL team? How does the NFL react to that?

      "Independent wealth means a lot," one league source said.

      And that's what Ann Walton Kroenke has.

      So at face value, that option might be more palatable to league owners than having Kroenke simply transfer ownership of the Nuggets or Avalanche to some combination of his wife, his son, Josh, or daughter, Whitney.

      When asked if that would be an acceptable path, NFL senior vice president Greg Aiello replied: "I can't answer that question. It's not my question to answer. That's something that has to be decided by NFL ownership. And right now, they can't answer that because they don't know what he's proposing."

      Even those close to Kroenke believe Kroenke has yet to decide on a precise path to finesse the cross-ownership rules.

      But one avenue seems definitely closed: selling the Denver teams to an outsider. Whether it's sports properties or other business properties, Kroenke's history has been as a buyer and a keeper — not a seller of assets. And because he also owns the building the Nuggets and Avalanche play in — the Pepsi Center — it has proved to be a profitable setup.

      If Kroenke sold the Nuggets and Avalanche to his wife, it appears he could maintain ownership of the Pepsi Center. There's nothing in the NFL's cross-ownership rules that would prevent him from keeping the venue. So that would make the purchase cheaper for his wife.

      In 2000, just a few months after the St. Louis Rams defeated Tennessee in Super Bowl XXXIV, Kroenke purchased 93.5 percent of the Avalanche, Nuggets and Pepsi Center. The overall value of those assets at the time was $450 million.

      It is a violation of the NFL's cross-ownership rules for Kroenke to own the Nuggets and Avalanche once he has controlling interest in the Rams. Kroenke already owns 40 percent of the Rams; he will own the full 100 percent of the team if he's successful in his bid to buy Rosenbloom's and Rodriguez's 60...
      -04-18-2010, 12:20 PM
    • MauiRam
      Kroenke plays it close to the vest ..
      by MauiRam
      BY JIM THOMAS
      ST. LOUIS POST-DISPATCH
      03/23/2010

      ORLANDO, FLA. — The day's business concluded, Stan Kroenke walked out of the NFL owners' meeting room Monday evening with Rams senior consultant John Shaw at his side.

      About the last person Kroenke wanted to see in this venue was a reporter. He has always been what's best described as media shy — and that's particularly the case now that Urbana, Ill., businessman Shahid Khan has entered into an agreement to purchase controlling interest in the Rams.

      So what will Stan do? Buy, sell or stand pat? Kroenke didn't tip his hand Monday, saying he continues to consider his options.


      "We're all talking about our different approaches here, trying to come up with the best approach for everyone involved, I think," Kroenke said.


      He also indicated that he will take the full 60 days, or very close to it, to decide what to do.

      "I think that it's prudent to think through your options," Kroenke said. "These are big decisions. We're going to try to do the right thing."

      Kroenke said he really couldn't say anything more until the process plays itself out.

      Kroenke currently owns 40 percent of the Rams. He can decide to:

      — Stand pat and maintain his 40 percent share of the Rams.

      — "Cash out" and sell his 40 percent share.

      — Exercise his right of first refusal, in essence matching Khan's offer for the team.

      In reality, Kroenke probably has only two options: maintain his 40 percent share or sell it. Because in pretty strong language Monday, NFL Commissioner Roger Goodell indicated that the league wasn't inclined to bend its cross-ownership rules to allow Kroenke to match Khan's offer.

      "Let's cross that bridge when we get to it," Goodell said. "But I don't think so. I think everyone understands we're going to respect our policies and make sure we treat everyone the same.

      "We have great respect for Stan, and he has to make some choices. But he also understands the league wants to continue to have policies that we think are beneficial to the league in general and fair to all 32 clubs."

      The cross-ownership rule prevents owning a controlling share in an NFL team in one market while owning majority interest in another major-league team (baseball, basketball, hockey) in a competing NFL city.

      Kroenke owns the Denver Nuggets of the National Basketball Association and the Colorado Avalanche of the National Hockey League.

      As part of Khan's Rams sale agreement Feb. 12, Kroenke has 60 days to declare his intentions with respect to Rams ownership. April 12 is three weeks away, so the time for making a decision is drawing near.

      The "vetting" of Khan and the entire sales...
      -03-23-2010, 09:50 AM
    • MauiRam
      Will Rams cash in under Kroenke? ..
      by MauiRam
      BY BERNIE MIKLASZ • Sunday, September 26, 2010 12:20 am


      The National Football League is the private club for some of the wealthiest people in the world. According to the latest Forbes listing of the 400 richest people in America, 11 own NFL franchises.

      Money doesn't guarantee success on the field. A few of the moguls have won Super Bowls, including New England's Robert Kraft, Jerry Jones in Dallas, Tampa Bay's Malcom Glazer. Others on the Forbes list repeatedly have come up short in their desperate pursuit of the ring.

      One is Washington's Daniel Synder, who has had more head coaches (seven) than winning seasons (three) in 11 seasons as owner. Snyder hopes his football fortunes will change now that he's installed a legitimate general manager (Bruce Allen) and the high-profile head coach, Mike Shanahan.

      Some of the NFL's old-school clubs — the Rooney family in Pittsburgh for example — have won multiple Super Bowls without the benefit of the massive individual wealth enjoyed by the NFL's Forbes 400 owners. The Rooneys know how to set up a successful football shop, with the focus on scouting and drafting. Their specialty is winning.

      Snyder and the Redskins will be at the Edward Jones Dome on Sunday to face Stan Kroenke's St. Louis Rams. Snyder has been at this since 1999. And Kroenke is the NFL's newest billionaire owner.

      Kroenke is ranked No. 130 on the Forbes list with an estimated worth of $2.7 billion. His wife, Ann Walton Kroenke, came in at No. 98 with $3.2 billion.

      That's impressive. A low-revenue franchise that's bottomed out with 44 losses in its last 50 games can certainly use a strong foundation.

      Still, that doesn't answer the most important question: What kind of owner will Stan Kroenke be for the Rams? Is Kroenke destined to become as stymied as Snyder, or as revered as a Rooney?

      Kroenke does have a Super Bowl on his résumé; he was Georgia Frontiere's 40 percent ownership partner when the unforgettable 1999 Rams went from last place to NFL champions. But Kroenke is in charge now, so the circumstances are dramatically different.

      Kroenke has become a symbol of hope for suffering Rams fans who crave strong, stable leadership to provide a new direction for their lost franchise.

      Friday night, I conducted an informal survey on my online forum (Bernie's Press Box) at STLtoday.com. I posed a simple query: What do you want from a Kroenke ownership?

      The responses were thoughtful and sincere. Here's a rundown of the most popular themes:

      • Be genuine in trying to solve the stadium issue to ensure the team's future in St. Louis.

      • Be in it to win it and fight for Rams fans.

      • Buy some impact free agents to help overcome the many years of incompetent drafting.

      • Be a visible presence at Rams Park and in the...
      -09-26-2010, 11:02 AM
    • r8rh8rmike
      Bernie: A Look At Kroenke's Strategy
      by r8rh8rmike
      05.10.2010 11:00 am
      Bernie Bytes: A Look at Kroenke’s Strategy
      By Bernie Miklasz


      The latest twist in Stan Kroenke’s pursuit of the Rams comes from Daniel Kaplan of The SportsBusiness Journal. Kaplan reports that Kroenke is attempting to get around the NFL’s cross-ownership rules by turning the team over to his wife, Ann Walton Kroenke. According to Kaplan, Kroenke pitched that proposal last week during a meeting with the NFL Finance Committee, which is overseeing the sales process. The SBJ reported that Kroenke’s proposal included other options, but no specifics were cited.

      Kroenke owns 40 percent of the Rams and opted to match Shahid Khan’s bid to purchase the controlling 60 percent interest from Chip Rosenbloom and Lucia Rodriguez. But because Kroenke owns the NBA Denver Nuggets and NHL Colorado Avalanche, teams that compete for Denver sports dollars with the NFL Broncos, he is prohibited from owning an NFL franchise in another market.

      Jim Thomas of the St. Louis Post-Dispatch reported that Kroenke would likely try to circumvent the rules by selling or transferring the Nuggets and Avs to his wife. And that option is still on the table for consideration, NFL sources say. But Kroenke seems to be exploring every possible angle in an attempt to satisfy the NFL. Kroenke’s apparent willingness to transfer or sell the Rams to his wife is just the latest scenario to be floated.

      Let’s take a look. Here are some of my initial thoughts:

      * Ann Kroenke certainly has the money to buy the Rams; she’s listed on the Forbes annual survey of the wealthiest Americans with an estimated worth of $3.2 billion. (Kroenke’s estimated worth is $2.7 billion.) But it isn’t so simple.

      * The Rams’ ownership agreement stipulates that Stan Kroenke has the right of first refusal on the Rams’ sale. Not Ann Kroenke. Stan Kroenke had the right to match Khan’s bid. Not his wife. So on the surface, how could the NFL allow this?

      * Or is the NFL willing to compromise by agreeing to let Kroenke match and take over as the 100 percent owner of the Rams as long as he agrees to quickly sell the team to his wife?

      * Why didn’t Ann Kroenke simply bid for the Rams at the time the Rosenblooms had their 60 percent share on the market? This would have been easier than (A) having Stan Kroenke match Khan and (B) Kroenke having to work around the cross-ownership guidelines. (Likely answer: the Kroenkes didn’t want to get in a bidding battle with Khan that would drive the price up; they probably preferred to wait, let Khan make a reasonable bid, then match. I’m only guessing here.)

      * Do any of these possible scenarios really satisfy the spirit of the NFL rule on cross ownership? Let’s say Kroenke sells the NHL and NBA teams to his wife, or transfers them to his son, Josh. Fine. But the Nuggets-Avalanche and Pepsi Center revenues would still...
      -05-11-2010, 12:01 PM
    Working...
    X