Kroenke Wants The Rams

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))
 

Like a lot of professional sports franchises these days, there's a loophole in the Rams' lease. It allows them to move after the 2014 season if the Edward Jones Dome is not deemed among the top 25-percent ((or 8th-and-up)) of all NFL stadiums by various measurements... whatever those are...

The dome is becoming one of the league's older venues. The city's convention commission spent $30 million upgrading the facility before last season, installing new scoreboards and video boards and upgrading club seating. Next season they're due for a new grass field that can be stored and used in subsequent seasons, a major upgrade.

But would the Missouri-born Kroenke move the team, say, back to Los Angeles...???
Remains to be seen... but an interesting thought nonetheless...

Rams Sold....to KHAN!!!!

It appears that the sale of the St.Louis Rams will finally be taking place. According to published reports, Urbana, Illinois businessman Shahid Khan has a signed agreement to buy Chip Rosenbloom and Lucia Rodriguez's 60 percent stake in the team.

The story from STLToday.com RIGHT HERE

((Shahid Khan photo and illustration//Courtesy: St. Post-Dispatch))

Khan, who made his fortune as an auto-parts manufacturer, won't have 100% of the team. Billionaire Stan Kroenke still owns the other 40% as of right now. According to the report, Khan has the wherewithal to purchase Kroenke's stake as well, it is just not clear if Kroenke wants to keep it or not. Kroenke is unable to be a majority owner due to the fact that he also owns the NBA's Denver Nuggets along with the NHL's Colorado Avalanche and the NFL does not permit cross-ownership. He does however have the right of first refusal to purchase the other 60% if he can divest in the Denver teams or get the NFL to waive the cross-ownership rules.

Khan, who has deep ties to the Illinois area is said to be a huge Rams fan with no desire to see them play somewhere else. Which may, potentially put a stop to the rumors of the team heading back to there original home in Los Angeles.

Enjoy the only appropriate video clip we could find for this story. Thanks You Tube:

The St. Louis Rams Are For Sale. Who's Buying

Chip Rosenbloom and his sister Lucia Rodriguez inherited the St. Louis Rams when their mother, Georgia Frontiere, passed away in 2008. Now they would like to sell their 60% majority ownership in the Rams. Forbes has the St. Louis Rams valued at $929 million. By the way, Stan Kronke owns the other 40% of the team but because his also owns the Colorado Rockies and the Denver Nuggets Kronke is prohibited to becoming majority owner due to the NFL's strict cross ownership policy.

Rosenbloom has hired investment banking firm Goldman Sachs to find potential buyers. That move seems to mean Rosenbloom is moving aggressively to sell even to non-local buyers.

All this has the city of St. Louis nervous about the future of the Rams. The city lost one football team, the Cardinals, back in 1988 and losing another would be a huge blow.

Someone with deep pockets could purchase the Rams and move the team is they so choose. Perhaps a Los Angeles billionaire could come in, purchase the franchise and move the team back to L.A.

What has been worrisome is no local investors have stepped up except one, Dave Checketts. Checketts put together a group to buy the St. Louis Blues hockey team and he is very interested in the Rams. In an e-mail communication with the St. Louis Post-Dispatch Checketts wrote, "We have the ability to get this done and we have communicated this to the Rams. We approached this with the Rams months ago and have since that time put together a partnership of both concerned St. Louisans and outside capital."

"Last week, we communicated to Chip Rosenbloom in no uncertain terms, that he now has a clear St. Louis buyer. We are that buyer."

"We have reason to believe the NFL would approve our group as we have carefully explored their ownership requirements."

Of course Checketts would have to raise $450 to $500 million approximate to make that happen.

Bernie Miklasz column in Tuesday’s St. Louis Post-Dispatch lays it all out.

Photo Courtesy: Doug Benc/Getty Images