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Vote on Rams sale could come Wednesday

After months of discussion and negotiation and speculation, NFL owners could vote on Wednesday to approve the sale of the St. Louis Rams to Stan Kroenke, reports Daniel Kaplan of SportsBusiness Journal.

Kroenke already owns 40 percent of the team; he wants to buy the 60-percent stake held by the children of the late Georgia Frontiere, Chip Rosenbloom and Lucia Rodriguez.  Kroenke has positioned himself for the purchase by exercising a contractual right to match the offer from businessman Shahid Khan.

Complicating the transaction is the fact that Kroenke also owns the NBA’s Denver Nuggets and the NHL’s Colorado Avalanche.  The league’s cross-ownership rules permit an NFL owner to hold a franchise in another sport only if the other team plays in the same market.  Kroenke hopes to circumvent the letter of the rule by handing the basketball and hockey teams to his children, who will have acquired the franchises the old-fashioned way — by having them handed to them.

Kroenke also wants to finalize the transaction in two parts, with Rosenbloom and Rodriguez holding a chunk of the franchise until Kroenke buys it all up.  That twist previously created some consternation among some members of the owners’ finance committee, apparently because of the special considerations Kroenke is getting under the cross-ownership rules.  Kroenke apparently believes that he should be able to proceed with a two-part purchase, because Khan’s proposal called for the same approach. 

But Kaplan says progress has been made on several issues, which means that a vote could come this week, and that the transaction could be approved.

If it happens, it’ll guarantee that the franchise will have at least one “win” in a season which, if recent form holds, the Rams could end up going 0-16.

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11 Responses to “Vote on Rams sale could come Wednesday”
  1. mama tried says: Aug 23, 2010 11:29 AM

    Must be nice to have a rich daddy like him!! “Here son, I’m going to give you my NBA and NHL franchises!!!!!”

  2. Tre-nitty says: Aug 23, 2010 11:32 AM

    Florio, you sir are an idiot. The rams will beat the lions again and will beat the bucs as well. Stop trying to be funny, your horrible at it.

  3. wrekOgnize says: Aug 23, 2010 11:33 AM

    Move them back to LA while we’re at it.

  4. robert ethen says: Aug 23, 2010 12:03 PM

    We took a couple looks at our latest 80 million dollar investment and decided, we’re outta here.

  5. MACHINE GUN IBIZA says: Aug 23, 2010 12:56 PM

    “Kroenke hopes to circumvent the letter of the rule by handing the basketball and hockey teams to his children, who will have acquired the franchises the old-fashioned way — by having them handed to them.”
    Or by marrying a Wal Mart heiress-as Kronke did.

  6. Chapnasty. says: Aug 23, 2010 1:07 PM

    If only Rush was allowed to own them… oh wait.

  7. Hap says: Aug 23, 2010 2:00 PM

    I’m voting FOR it.

  8. dabbflappy says: Aug 23, 2010 3:20 PM

    I guess this means Stan won’t be buying the rest of Arsenal.
    He’s thought of as a good owner. But neither the Avs nor the Nuggets really put it together on his watch.

  9. jimmySee says: Aug 23, 2010 3:23 PM

    If Kroenke is giving the Avalanche and Nuggets to his kids, there could be a huge tax liability there for the kids.
    There are limits to the amount or value of any gift that can be passed along tax free in a year.

  10. dragonrider2300 says: Aug 23, 2010 3:26 PM

    Recall that Rush was only put on a preliminary list of potential ‘partial’ investors (who would have no say in the running of the team) by Dave Checketts, who was trying to put together a bid for the St. Louis Rams-Checketts was unsuccessful due to not having enough Ben Franklins waiting in a Brinks truck to buy the team. Given that Rush seems to spew racist comments on a regular basis, made him a terrible choice to be part of an NFL ownership team. I am not sure what Checkett’s motivation was in adding Rush to that list, so I don’t speak about him-I would like to know!
    The NFL and Roger Goddell did the right thing in telling Rush to go away. Rush has the right to free speech-but the NFL, as a business, has a right to decide that someone with long-standing racist views is not an appropriate person to own an NFL team, even as a minority interest (no pun intended). Any private business could make the same decision, and in the case of Mr. Limbaugh, probably would.

  11. Steeler79 says: Aug 23, 2010 7:17 PM

    Kroenke buying the Rams would be a win for any Rams fan in St Louis. The guy would be the second richest owner in professional sports and he’s tied to the city of St Louis as well, so the Rams wouldn’t be moving anywhere.
    Personally I hope Kroenke is able to buy the team and I think he will because he is the prototypical ‘good ol boy’ the NFL loves. If Rodger Goodell could have 32 Stan Kroenkes I think he would take them.

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