As the NFL commences the process of inspecting the details of the bid compiled by would-be Rams owner Shahid Khan, issues have emerged regarding the structure of the deal.
Daniel Kaplan of SportsBusiness Journal reports that the league is scrutinizing the debt that Khan will be incurring as he raises the necessary cash. Per Kaplan, Khan would be borrowing against Flex-N-Gate, the automotive parts company he owns.
“Mr. Khan has not completed his financial arrangements, and until then, any discussion about it would be pure speculation,” NFL spokesman Brian McCarthy told Kaplan. McCarthy also explained that the league treats debt differently based on whether the collateral is the team or some other asset, like a separate business.
The wild card continues to be minority owner Stan Kroenke, who has the power to match Khan’s offer and purchase the 60-percent stake Khan hopes to buy from Chip Rosenbloom and Lucia Rodriguez. Kroenke also has the power to tell Khan to buy out Kroenke’s 40 percent.
Meanwhile, St. Louis Blues owner Dave Checketts remains on standby, with a bid that reportedly includes Eric Dickerson and Marshall Faulk, who recently made it clear that he would have done more than fire the trainer after a 1-15 season.