SBD/Issue 163/Franchises

Kroenke's Offer To Buy Rams Likely To Take Several More Weeks

Vote On Kroenke's Bid For Rams
Could Take Place By End Of Summer

Stan Kroenke has submitted his application to the NFL to purchase the remaining 60% of the Rams, but there is "much remaining to be done on the actual purchase document" and that process "may take several weeks," according to league sources cited by Jim Thomas of the ST. LOUIS POST-DISPATCH. The NFL's finance committee met on Tuesday and an "update on the Rams sale was one of the topics of discussion." But the committee cannot vote on Kroenke's bid until it "sees the final purchase document." Thomas notes it "appears very doubtful then, that there will be a vote by the full league membership on the Kroenke bid at the NFL's owners meetings May 24-26 in Dallas," though one "could take place by the end of the summer." NFL owners still are "waiting to see precisely how Kroenke plans to be in compliance with the league's cross-ownership rules." He has told the league that he "plans to be in compliance" and will "not seek a waiver or a change in that rule." The most likely outcome "involves either transferring or selling the Nuggets and Avalanche to Kroenke's two children or his wife." Sources indicated that a "variation of the approach taken by the NFL when H. Wayne Huizenga purchased the Miami Dolphins may be used with Kroenke." The NFL gave conditional approval to Huizenga's purchase in '94, "with the proviso that if the NFL's cross-ownership rules weren't changed in two years he would have to put the team up for sale in 1996." Huizenga subsequently was "given a one-year extension of that window before the league amended its cross-ownership rules," allowing him to also maintain ownership of the Marlins and NHL Panthers (ST. LOUIS POST-DISPATCH, 5/6).

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