Stan Kroenke takes fight over release of financial information to Missouri Supreme Court

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Rams owner Stan Kroenke is spending plenty of money to keep people from finding out how much money he has.

Via Joel Currier of the St. Louis Post-Dispatch, Kroenke has asked the Missouri Supreme Court to overturn a July ruling that he must produce records regarding his net worth in the litigation arising from the relocation of the Rams in 2016.

The petition filed on Thursday comes after an intermediate appellate court promptly rejected last month Kroenke’s effort to attack the ruling.

Kroenke is willing to produce his financial statements for the past three years, but he wants to protect information related to enterprises unrelated to the Rams and/or the massive fortune of his wife, Ann Walton, a multi-billionaire Wal-Mart heiress.

The ruling from the trial court targets information regarding “any entity owned in whole or in part or directly or indirectly,” along with the federal income tax returns that Kroenke “jointly filed with his wife.”

In addition to the Rams, Kroenke owns the NHL’s Colorado Avalanche, the NBA’s Denver Nuggets, Arsenal of the Premier League, and the Colorado Rapids of MLS.

If Kroenke fails, don’t be surprised if he tries to get the U.S. Supreme Court involved. The case already has landed on the docket of the nation’s highest court, via an effort by the NFL to force the case to arbitration — in order to avoid ever having a jury of average citizens hear the evidence and determine responsibility through a trial that plays out in open court.

The current petition focuses only on Kroenke’s required disclosure of financial information. The July ruling also authorizes the release of financial information from Cowboys owner Jerry Jones, Patriots owner Robert Kraft, Giants co-owner John Mara, former Panthers owner Jerry Richardson, and Commissioner Roger Goodell.

The judge decided to allow the financial information to be disclosed after finding that clear and convincing evidence had been presented that those individuals had acted in a fraudulent manner, opening the door for a potential award of punitive damages against them. Punitive damages can’t properly be determined without knowing the amount it will take to make the person writing the check to regard the obligation as punishment.

29 responses to “Stan Kroenke takes fight over release of financial information to Missouri Supreme Court

  1. Man, I wonder if he would lend me $20k? That’s all I need to get my finances back in order. I’d pay it back too unless he finds the goodwill in his heart to forgive the loan.

  2. Interested in this guy”s rationale. Always felt he is the best example of why rich guys deserve the animosity they find from our society.

  3. I get it’s a business, but at what point do the owners feel the billions they already have is enough and stop gouging the average Joe with their ridiculous high prices?

  4. Stan Kroenke is just trying to cover up the fact that he bought a bigger longer super yacht than Jerry Jones and Arthur Blank. It’s understandable.

  5. Here’s hoping the Missouri Supreme Court gives Kroenke a swift kick in the nuts — figuratively of course.

  6. Why go to all of this effort to hide your true value? Just being married to a Walton makes you worth north of $10 billion. So who is going to be offended if they find out you are worth $20b rather than $10b?

  7. It’s good to know that the Supreme Court will be wasting time so the monopoly known as the NFL and one of its richest owners can after screwing the residents out of a football can wriggle out of paying the financial damage

  8. reply to: I get it’s a business, but at what point do the owners feel the billions they already have is enough and stop gouging the average Joe with their ridiculous high prices?

    Often times the owners and the billions they have are able to provide the average joe with far cheaper prices than the average joe could provide the average joe. After all, he is married to a Walton, and Walmart pretty much is known for the cheapest prices.

  9. It’s the politicians who are crooks here, not Stan. Imagine moving your business and then being sued by the city you left and punished (fined) by it’s courts. And they want to know info about all your assets and your family’s to determine how much to fine you…that’s socialism and no one would invest in such a city, especially large investments. Protection of property rights is the single most important componenent of a healthy society. STL is goign to decay further and rigthfully so, until they elect people who believe in free markets. Stan was 100% right to move the Rams out.

  10. I’m so glad Jackson County approved a tax for funding the Truman Sports Complex and renovating Arrowhead Stadium. KC was very close to losing the Chiefs and the repercussions were devastating. This is Chiefs town and a golden age for Chiefs fans.

  11. @smoothrobinva – The NFL is not tax exempt they used to be but most people fail to understand what that actually means. NFL does not actually make money all revenue is distributed to the teams and players and both pay the taxes on it. So we all see the NFL brings in billions and people think they pay no taxes on that but is false the teams pay taxes on all of it.

  12. It’s the politicians who are crooks here, not Stan. Imagine moving your business and then being sued by the city you left and punished (fined) by it’s courts. And they want to know info about all your assets and your family’s to determine how much to fine you…that’s socialism and no one would invest in such a city, especially large investments. Protection of property rights is the single most important componenent of a healthy society. STL is goign to decay further and rigthfully so, until they elect people who believe in free markets. Stan was 100% right to move the Rams out.
    ——————————————————————————————
    There is nothing wrong with free markets, but you cannot go against your own bylaws, lie to the city and move your team without repercussions. The city offered a new stadium plan, spent millions of dollars on the plan because Stan and the NFL told them to all the while knowing they were leaving. The city supported the Rams. Stan ran them in the ground on purpose to erode fan support. He brought in Jeff Fisher knowing he was a mediocre coach but he was the only coach that had moved with a franchise before.

  13. Even if he loses this ruling we’ll probably never see his net worth since the city of St. Louis will use the win to extract the maximum settlement.

  14. hello i says:

    Often times the owners and the billions they have are able to provide the average joe with far cheaper prices than the average joe could provide the average joe. After all, he is married to a Walton, and Walmart pretty much is known for the cheapest prices.

    ______________________________________________

    The cost of lower prices for the average Joe was millions of lost manufacturing jobs, and untold thousands of local shops and chains across the US. Maybe it was inevitable, but the Waltons hammered the average working class and middle class family by driving these jobs out of the US.

  15. We’ve managed to keep our 4 majors here but I feel for the fans of all the citys that have lost teams over the years. I’d like to see one of these owners get stuck just as a deterrent for future sham moves.

  16. What Florio has failed to disclose is that yes, the case had landed on the docket of the Supreme Court but that they had rejected the hearing of the case and sent it back.

    There is no reason to believe that IF Kroenke gets it that far in his matter that the results will be any different.

  17. smoothrobinva says:
    September 4, 2021 at 9:47 am
    Tell me again why the nfl is tax exempt

    The NFL is tax exempt. The teams are not.

  18. smoothrobinva says:

    September 4, 2021 at 9:47 am

    Tell me again why the nfl is tax exempt

    —————————————-

    It’s not, and hasn’t been for a few years now.

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