Shahid Khan entered into an agreement in February with the Rosenbloom family to purchase the controlling interest in the Rams. He did this knowing minority owner Stan Kroenke could exercise his right of first refusal and purchase the remaining 60% of the team.
Shahid Khan Will Purchase Rams If Stan Kroenke’s Deal Falls Through
Khan has released a statement after the news has come down that, indeed, Kroenke is exercising that right:
”On February 10, 2010, Chip Rosenbloom and Lucia Rodriguez granted me a great honor _ the opportunity to purchase the controlling interest in the St. Louis Rams that has been held by their family for 57 years. I entered into that agreement knowing that Mr. Kroenke could attempt to purchase that interest on the same terms. Earlier this evening, Stan advised me that he was going to pursue that opportunity.
”I have had the chance to get to know Stan over the past 60 days. As I told Stan during our conversation earlier this evening, I enjoy his company, admire his success in sports and certainly respect his right to try to purchase the Rosenbloom family’s interest in the Rams.
“While the decision about ownership now rests in the hands of the NFL and its owners, my dedication to the league, the Rams, their fans and the St. Louis community is as strong as ever. Accordingly, I have advised Chip and Lucia that I intend to remain bound by our agreement and to conclude the purchase if the opportunity presents itself. In the meantime, I look forward to learning of Billy Devaney’s pick on the evening of April 22.”
Translation: ‘If/once the NFL enforces the cross-ownership rules, I still want to buy the team’.
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