Apart from the possibility that minority owner Stan Kroenke will elect to exercise his right to match the offer made by Shahid Khan to buy the 60-percent stake in the team that Kroenke doesn’t already own, Khan reportedly faces another obstacle in his quest to assume control of the franchise.
According to Len Pasquarelli of ESPN.com, a member of the NFL’s finance committee said that “[t]here’s still a lot of very close scrutiny left.”
The source tells Pasquarelli that league approval of Khan’s offer is “no sure thing.”
As a result, Dave Checketts will keep his own bid alive in the event that Khan can’t secure approval.
It wouldn’t be the first time that a prospective buyer was unable to get the deal done. Before Daniel Snyder bought the Redskins in 1999, he was part of a bidding group led by Howard Milstein. They had a deal in place with the estate of Jack Kent Cooke, but Milstein withdrew and Snyder took over.
Also, author Tom Clancy was in line to own the Vikings in the late 1990s. His bid failed, opening the door for Red McCombs.
So, really, no proposal is a “sure thing,” even if the current owner of a team accepts it. In the end, 24 of the other 31 owners must approve. If they don’t, the buyer isn’t getting in the club.