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The ownership of the St. Louis Rams could be settled as soon as Wednesday, when NFL owners could vote to approve the sale of the 60 percent of the Rams that he doesn't own to Stan Kroenke.
According to Sports Business Journal's Daniel Kaplan, Kroenke is trying to buy the portion of the team currently owned by the children of the late Georgia Frontiere, Chip Rosenbloom and Lucia Rodriguez.
Businessman Shahid Khan had put in an offer to Rosenbloom and Rodriguez to buy their interest, but Kroenke, as a minority owner, has exercised a contractual right to match Khan's offer.
But it's not a sure thing because the NFL has stringent cross-ownership rules that severely limit an NFL owner to own a franchise in another sport – it can only be done if the other team plays in the same market. But Kroenke owns two out-of-St. Louis teams, the Denver Nuggets of the NBA and the Colorado Avalanche of the NHL, and that's a major problem.
Kroenke wants to slide around the rule by giving ownership of the teams to his children.
On top of that, both the Khan and Kroenke offers are causing some consternation because they call for the transaction to be finalized in two parts, meaning Rosenbloom and Rodriguez retain a portion of their current holdings until Kroenke (or Khan) would get around to buying it up.
The Sports Business Journal story says that progress has been made on the issues and the vote could come down Wednesday.
Stan Kroenke May Get Approval for Purchase of Rams By Wednesday
Aug 23, 2010 – 4:11 PM
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