Kroenke completes Rams deal 26/08/2010
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Stan Kroenke has completed his takeover of National Football League (NFL) team the St. Louis Rams.
The deal had required the approval of other owners in the NFL as it went against the usual ‘cross-ownership’ protocol and, at a vote in Atlanta on Wednesday (August 25), he received unanimous support.
It means that Kroenke now has a controlling stake in five different sports teams in the United States and, more significantly, is the only person to own three major American franchises at the same time.
Kroenke, who is the largest single shareholder in Arsenal Football Club, also owns the National Basketball Association’s Denver Nuggets and the National Hockey League’s Colorado Avalanche, as well as Major League Soccer's Colorado Rapids and National Lacrosse League team Colorado Mammoth.
Kroenke previously owned 40 per cent of the Rams and bought the remaining 60 per cent for an estimated £290m.
"Stan has been a familiar and respected figure in the National Football League for more than 15 years," said NFL commissioner Roger Goodell. "He is a proven businessman and has experienced success in all of his sports franchises, as well as serving as a responsible community leader."
The Rams franchise, which began in Cleveland, was in Los Angeles from 1946 to 1994 and took up home in St. Louis in 1995 in a move that brought the NFL back to the city after an eight-year absence.
Prior to the Rams, the St. Louis Cardinals was the city's NFL team from 1960 to 1987 before it moved to Phoenix and later became the Arizona Cardinals.
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