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Kroenke asks NFL to allow his wife to own the Rams

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  • #1

    Kroenke asks NFL to allow his wife to own the Rams

    Kroenke asks NFL to allow his wife to own the Rams

    By DANIEL KAPLAN
    Staff writer
    Published May 10, 2010

    Stan Kroenke asked the NFL last week to allow his wife to own the St. Louis Rams, sources said, as a way to address the complications that have developed from his decision last month to trigger an option to buy the club.

    This guy is a writer for Street & Smith's Sports Business Journal.
    Tags: None
  • #2
    Re: Kroenke asks NFL to allow his wife to own the Rams

    I have a difficult time believing this is what the NFL meant when they passed the rule.

    Comment

    • #3
      Re: Kroenke asks NFL to allow his wife to own the Rams

      Originally posted by RebelYell View Post
      I have a difficult time believing this is what the NFL meant when they passed the rule.
      Agreed. This is bizarre to say the least. I can't imagine he actually expects this to work, but hey, it doesn't hurt to try.

      Comment

      • #4
        Re: Kroenke asks NFL to allow his wife to own the Rams

        Originally posted by shower beers View Post
        Agreed. This is bizarre to say the least. I can't imagine he actually expects this to work, but hey, it doesn't hurt to try.
        There was another interesting legal aspect: Stan has legal right of first refusal, not his wife. How is Stan going show that his wife has the legal right to execute this because of their marital bond but he wouldn't have ownership of the team even though they have this bond? The two mutually exclude themselves.

        Comment

        • #5
          Re: Kroenke asks NFL to allow his wife to own the Rams

          He'd have to buy the team and then immediately sell it to his wife.

          Comment

          • #6
            Re: Kroenke asks NFL to allow his wife to own the Rams

            Is he nuts? A woman owning the Rams?

            Comment

            • #7
              Re: Kroenke asks NFL to allow his wife to own the Rams

              Originally posted by AlphaRam View Post
              Is he nuts? A woman owning the Rams?
              It's only bad if she's on her period.


              ♪ R.I.P. Nujabes ♫

              Comment

              • #8
                Re: Kroenke asks NFL to allow his wife to own the Rams

                Originally posted by AlphaRam View Post
                Is he nuts? A woman owning the Rams?
                I'm OK with that as long as she has no history as a Vegas showgirl.;)
                Clannie Nominee for ClanRam's Thickest Poster

                Comment

                • #9
                  Re: Kroenke asks NFL to allow his wife to own the Rams

                  Originally posted by AvengerRam View Post
                  He'd have to buy the team and then immediately sell it to his wife.
                  But he's forbidden from buying the team because of the rules in place. And if you sell something to your wife, how is that inside the scope of their rules? Could his wife own the Rams and then he buys the next NFL franchise that comes up for sale? Doubtful.

                  Comment

                  • #10
                    Re: Kroenke asks NFL to allow his wife to own the Rams

                    Originally posted by RebelYell View Post
                    But he's forbidden from buying the team because of the rules in place. And if you sell something to your wife, how is that inside the scope of their rules? Could his wife own the Rams and then he buys the next NFL franchise that comes up for sale? Doubtful.
                    I think the only way this gets done with the current rules the way they are is he would have to sell the Avalanche and the Nuggets to her and then he could buy the Rams. I see no problem with this since every wife ends up with her husbands nuggets anyway!
                    sigpic

                    Comment

                    • #11
                      Re: Kroenke asks NFL to allow his wife to own the Rams

                      Originally posted by RebelYell View Post
                      But he's forbidden from buying the team because of the rules in place. And if you sell something to your wife, how is that inside the scope of their rules? Could his wife own the Rams and then he buys the next NFL franchise that comes up for sale? Doubtful.
                      It all depends on what the league wants. If they want to bend, modify or make an exception to the rules, they will. If not, Kroenke needs to find another plan.

                      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 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
                      • HUbison
                        Expect approval for Rams' Kroenke
                        by HUbison
                        From ESPN.com...
                        -04-13-2010, 07:47 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
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