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Kroenke closes door on Khan

Shahid Khan?  It was nice knowing you.

Rams minority owner Stan Kroenke, who owns 40 percent of the team and reportedly had a strong interest in buying the rest, has exercised his right of first refusal as to the 60 percent owned by Chip Rosenbloom and Lucia Rodriguez.

“We are pleased to announce that we have exercised our right to purchase
the remaining interest in the St. Louis Rams football team under the
terms of our partnership agreement,” Kroenke said in a statement on Monday night, per Jim Thomas of the St. Louis Post-Dispatch.  “We have enjoyed our involvement in the National Football
League since our original expansion efforts beginning in 1993 and our
subsequent 15-year partnership with the Rams.  We look forward to working
with the Rosenbloom family and the NFL to complete this transaction.  We
will respect the league and its processes in our efforts to complete
this transaction.”

The move means that Khan’s bid to buy controlling interest in the team will die, if Kroenke can secure approval for the transaction.  Khan’s ultimate role in the process?  Negotiating the purchase price for the 60 percent that Kroenke will buy.

Though Kroenke has more than enough money to purchase the balance of the team, he also owns the Colorado Avalance of the NHL and the Denver Nuggets of the NBA.  He’ll be required either to sell the hockey and hoops teams, or he’ll have to persuade the NFL to scuttle the cross-ownership rule, which permits the purchase of teams in multiple sports as long as they all operate in the same market.

Three weeks ago, Commissioner Roger Goodell addressed whether the rules would be changed for Kronke.  “Let’s cross that bridge when we get to it,” he said.  “But I don’t think so.  I think everyone understands we’re going to respect our policies and make sure we treat everyone the same.  We have great respect for Stan and he has to make some choices.  But he also understands the league wants to continue to have policies that we think are beneficial to the league in general and fair to all 32 clubs.”

In the 1990s, the league relaxed the rules to permit Wayne Huizenga to buy the Miami Dolphins.  But there was no natural opposition to such a move in South Florida.  In Denver, Broncos owner Pat Bowlen could have something to say about having one of his NFL brethren competing with Bowlen’s football team via two other major-league franchises.

Presumably, Kroenke’s decision to exercise his right to buy the rest of the Rams means that, if push comes to shove, he’ll let the Avs and Nuggets float.

Maybe Pat Bowlen would be interested in buying them.

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21 Responses to “Kroenke closes door on Khan”
  1. TheToolofTools says: Apr 12, 2010 8:50 PM

    he will sue the NFL and win if they don’t let him cross pollinate pro teams.
    one has nothing to o with the other and he finds NFL $ in the cushions of his couch.

  2. tombrookshire says: Apr 12, 2010 8:55 PM

    Silly rule, since there is only theoretical competition between two NFL owners. Each sport has it’s own fan base and the chances of a Denver fan blowing off seeing the Broncos play to attend a Nuggets game is laughable.

  3. nfcbeast says: Apr 12, 2010 8:57 PM

    KHAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAN!

  4. lasher1674 says: Apr 12, 2010 8:59 PM

    I have an odd feeling that this could mean the ende of the Rams in St. Louis. Kroenke has something big up his sleeve here – he isn’t divesting of the Denver sports assets just to buy a team in a depressed market. I think he has his eye on a bigger prize (LA?) for the Rams otherwise this doesn’t make sense to me.

  5. MizzouRam says: Apr 12, 2010 9:04 PM

    Why? They are not going to relax the rule for him. Are you telling me he is going to sell 2 other franchises to keep the Rams? This is going to turn the franchise into an even bigger mess.

  6. Dogsweat says: Apr 12, 2010 9:08 PM

    Rams players will not be be-headed…

  7. krist says: Apr 12, 2010 9:16 PM

    florio, you should also mention in your report that adam schefter called this weeks ago when he said khan would not be the owner of rams

  8. heartstl says: Apr 12, 2010 9:24 PM

    Kroenke is a Missouri guy. Even his company THF Realty is based out of St. Louis. Don’t expect the Rams to move anywhere.

  9. krist says: Apr 12, 2010 9:29 PM

    “My sense is that approval for ownership is far from a slam dunk, and it’ll surprise me if ultimately he’s approved,” ESPN’s Adam Schefter told 101 ESPN in St. Louis on Monday regarding Shahid Khan’s pending ownership proposal. “And I would guess that he’s not going to be the next owner of the St. Louis Rams.”

  10. Drafty says: Apr 12, 2010 9:37 PM

    As often as business genuis Bowlen and the Broncos cry poverty, even in the post-Mile High era, the chances of him buying something other than a latte better be slim to none.
    Signed,
    An Invesco Field Voter

  11. luvthenfl says: Apr 12, 2010 9:59 PM

    Kroenke lives in central Missouri and was instrumental in bringing the Rams from LA to St. Louis. He will not be moving them back to LA.

  12. Brewster says: Apr 12, 2010 10:07 PM

    I said it two months ago and I’ll say it again.
    Kroenke buys the Rams then swaps the Rams to Bowlen for the Broncos, financial details to be determined, and Bowlen sells the Rams to Ed Roski’s group in LA. The deal is done with full knowledge and approval of the NFL who dearly wants a team in the 2nd biggest market and has for years.

  13. Dogsweat says: Apr 12, 2010 11:04 PM

    I said it two months ago and I’ll say it again.
    Kroenke buys the Rams then swaps the Rams to Bowlen for the Broncos, financial details to be determined, and Bowlen sells the Rams to Ed Roski’s group in LA. The deal is done with full knowledge and approval of the NFL who dearly wants a team in the 2nd biggest market and has for years.
    Any proof?

  14. andyrose says: Apr 13, 2010 1:08 AM

    Kroenke is a Missouri guy. I think he buys the Rams, then uses his real estate power to get an agreement to build a new stadium here.
    He then sells the Denver teams and uses the money to buy the majority control of the Arsenal team in English soccer where he already owns 29.9% of the team. Arsenal is tremendously profitable and will only be more so in the next few years. He didn’t become a billionaire by making mistakes in his purchases and sales.

  15. MileHighMadness says: Apr 13, 2010 2:07 AM

    Brewster:
    You are smoking crack

  16. MileHighMadness says: Apr 13, 2010 2:08 AM

    Kroenke is never going to sell the Nuggs, or the Avs. Two teams with extremely promising futures, in a perfect market with die hard fans=not for sale.

  17. Child_Please! says: Apr 13, 2010 5:17 AM

    The NFL will allow Kroenke to take over. The cross ownership rule doesnt really apply so much in this case.
    He already is the largest shareholder of the Rams at 40% ( Chip and Lucia only own 30% each individually) and NFL rules state that an owner must control at least 30%.
    Look at how the NFL bent over backwards for the Rooneys in the owwnership and racetrack facade.
    My guess is that Kroenke will stare down the NFL until they cave at the risk of losing in court.
    PLUS, I think several owners are behind Kroenke and want him to own the Rams

  18. BroncoBourque says: Apr 13, 2010 8:38 AM

    The NFL will make and exception and allow Kroenke to keep the Denver teams and buy the Rams. The only thing that would prevent that is if he can’t play nice with Bowlen and I don’t see that being an issue. I don’t think the league is going to let an owner like Kroenke get away over a rule that like won’t have any effect over any of the teams involved. Does anyone really think any of the Denver teams will do business differently once Kroenke owns the Rams?

  19. SATAN567 says: Apr 13, 2010 9:39 AM

    @ Brewster: what the hell are you talking about dude? That is a ridiculous theory.
    As for the article suggesting Bowlen may take over the Nuggs and Avs… I don’t think there’s a chance of that. Mr. Bowlen has a lot of dough, but I don’t think its that kind of dough. He’s certainly no Dan Snyder… … but then again, who is?

  20. Profanity in ALL CAPS says: Apr 13, 2010 9:44 AM

    damn, someone beat me to the KAHHHHNNN!!!! line

  21. Brewster says: Apr 13, 2010 1:13 PM

    No proof, pure speculation.
    Although Kroenke did say in his press release “We will respect the league and its processes in our efforts to complete this transaction.” Does that mean he won’t challenge the cross ownership rules?
    Bowlen has surely made it easy for a new owner to take over. Get rid of Ellis a marketing guy not a football COO, Xanders a GM with 1-2 years experience and McDaniels (n0 comment necessary) and start from scratch with some real front office & coaching talent.
    Denver sportswriters have been alluding to Bowlen’s financial woes for the past year, maybe there’s something to it.
    We’ll see.

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