Missouri billionaire Stan Kroenke has decided to exercise his matching rights clause and will try to purchase the remaining 60-percent share of the St. Louis Rams.
The surprise move was announced Monday by a Kroenke spokesman.
((Here's a copy of the statement...))
Illinois businessman Shahid Khan had reached an agreement-in-principle with owners
Chip Rosenbloom and his sister, Lucia Rodriguez on February 11th.
((Here's Khan's statement...))
But, Kroenke had 60 days to decide whether to keep his 40 percent stake, sell it, or exercise his right to buy the team outright. He did the latter...
Complicating the issue is Kroenke's ownership of the NBA's Denver Nuggets ((and the Pepsi Center)), and the NHL's Colorado Avalanche which run on Kroenke's Altitude Sports Network along with his MLS Colorado Rapids ((who play in a Kroenke-owned stadium)), and the MLL Colorado Mammoth ((who have one of the best sweaters in the business)). He is also close to a 30-percent owner of the Arsenal Football Club.
NFL rules prohibit cross-ownership in dueling markets, and Kroenke will have some decisions to make...
Here's how Fox2 in St. Louis broke the news...
((HT: KTVI-TV/Fox2Now))
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