Shahid Khan, president of an auto-parts manufacturer, reportedly agreed to purchase the Rams from the Rosenbloom family several months back.
Stan Kroenke Will Exercise Right To Purchase 100 Percent Of Rams
This left partial owner, Stan Kroenke, with a decision to make:
- Do nothing and keep his 40%, non-majority share of the team
- Sell his 40% share
- Match the offer and purchase 100% of the team
The last one has a hang-up -- the NFL has some rules restricting cross-ownership. Since Kroenke owns the NBA’s Denver Nuggets and NHL’s Colorado Avalanche, he can not buy the Rams. NFL Commissioner Roger Goodell has previously indicated he wouldn’t lax those rules for Kroenke.
Monday was the day Kroenke had to decide what he was going to do and, according to the St. Louis Post-Dispatch, Kroenke has decided to try and purchase 100% of the team.
Kroenke has decided to exercise his matching rights and attempt to purchase the 60 percent share of the team currently owned by Chip Rosenbloom and Lucia Rodriguez
Yes, the same 60 percent that Urbana, Ill., businessman Shahid Khan had entered into a sales agreement with Rosenbloom and Rodriquez.
It’s unclear exactly how this will work since it’s technically against NFL rules. More updates will be coming soon.
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