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  • Expect approval for Rams' Kroenke

    From ESPN.com
    Originally posted by ESPN.com
    Expect approval for Rams' Kroenke
    April, 12, 2010

    Rams minority owner Stan Kroenke must have been busy over the past two months.

    His attempt to buy out the remaining 60 percent ownership stake from Chip Rosenbloom, surprising on the surface, suggests Kroenke has been working hard to make sure the NFL would back his efforts.


    KroenkeWe should expect all parties to emphasize process over the coming weeks, but it's an upset if Kroenke's efforts fail. There's little chance a man with Kroenke's financial credentials and knowledge of the NFL would exercise this option in vain, is there?

    The assumption had been that the NFL's rules against cross-ownership might preclude Kroenke from exercising his option to purchase the Rams outright if Rosenbloom decided to sell. Kroenke had 60 days to announce his decision once Illinois businessman Shahid Khan made an offer. Kroenke already owns the NBA and NHL teams in Denver, meaning his majority ownership of the Rams could threaten the Broncos. But his deep pockets and familiarity could appeal to the league, possibly giving Kroenke the leverage he needs to push through his bid.

    "We are pleased to announce that we have exercised our right to purchase the remaining interest in the St. Louis Rams football team under the terms of our Partnership Agreement," Kroenke said in a news release. "We have enjoyed our involvement in the National Football League since our original expansion efforts beginning in 1993 and our subsequent 15-year partnership with the Rams. We look forward to working with the Rosenbloom family and the NFL. We will respect the league and its processes in our efforts to complete this transaction."

    Kroenke knows those processes very well. NFL owners know Kroenke. They know his finances.

    "Today we received notice that Stan Kroenke has exercised his right of first refusal under the St. Louis Rams Partnership Agreement to purchase the Rosenbloom family's controlling interest in the team," Rosenbloom said in a release from the Rams. "We and our advisors will work with the National Football League as we move forward with the objective of completing a transaction for the sale of our interest in the Rams."

    Kroenke's ownership bid came as a surprise. It's a bigger surprise if he made that bid without knowing it would succeed in the end.
    The more things change, the more they stay the same.

  • #2
    Re: Expect approval for Rams' Kroenke

    I have ties to Mo. and have been on the fringes of more than one Kroenke venture as a Construction Manager. To commit to exercising his right of first refusal without an unspoken consensus amongst the other owners does not seem likely. While appearing to firmly support the NFL's ban on cross ownership, Roger Goodell may, in fact, bow to a majority of owners in support of Stan Kroenke and his bid. I would have to agree with this assessment.

    Comment


    • #3
      Re: Expect approval for Rams' Kroenke

      I hope so. Kroenke seems to have a winner in every team he owns. The Nuggets and Avalanche are in the playoffs and Arsenal is usually in the top 4 of the EPL. This could be a great thing for STL, the Rams and we as fans.

      Comment


      • #4
        Re: Expect approval for Rams' Kroenke

        Originally posted by txramsfan View Post
        I hope so. Kroenke seems to have a winner in every team he owns. The Nuggets and Avalanche are in the playoffs and Arsenal is usually in the top 4 of the EPL. This could be a great thing for STL, the Rams and we as fans.
        maybe he has something in the works for a new stadium in Colorado?

        Comment

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        • 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
        • 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
        • 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
        • jaydees
          E. Stanley Kroenke
          by jaydees
          Could someone estimate Kroenke's dollar investment in the Rams. Does he hold an official title and if he is active in any operations of the team. My understanding he is married to a niece of Sam Walton (?):helmet:
          -01-21-2006, 04:57 PM
        • arsenalfan
          Opinions on Kroenke
          by arsenalfan
          Hello Rams fans,

          Stan Kroenke, who I understand is your co-owner, has just bought 10% of my english soccer club, Arsenal.

          It seems he might be looking to launch a takeover bid.

          What are your opinions of the man? How was he helped your team etc?

          Any help would be appreciated - the best views will be published on my site, gunnerblog.com
          -04-05-2007, 12:48 PM
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