SBD/October 8, 2014/Leagues and Governing Bodies

NFL Likely To Give Kroenke Extension To Move Ownership Of Nuggets, Avalanche

Owners in '10 voted to give Kroenke (r) four years to execute the Denver sales
NFL owners today are scheduled to vote on whether to extend by 12 months the amount of time Rams Owner Stan Kroenke has to come into compliance with the league's cross-ownership rule. Passage of the vote, part of a broader agenda at today's N.Y. meeting that encompasses discussion of player misconduct, L.A. and London, would give Kroenke until December '15 to cede control of the Nuggets and Avalanche. By contrast, incoming Bills Owner Terry Pegula would not have to sell his Sabres because they reside in the same market. The owners voted in '10 to give Kroenke until December '14 to execute the Denver sales. He plans to transfer the teams to his son, which is allowed under NFL rules if the family member has no part in the operation of the football team. NFL Finance Committee Chair and Texans Owner Bob McNair said that the committee is recommending the owners approve the 12-month extension. He mentioned estate planning issues as the reason for the delay. Asked why four years was not enough time, he said Kroenke simply needed more time. He predicted an easy vote today. Some sources, however, disagreed, saying there were owners unhappy with what they view as the flouting of the cross-ownership rule. There is also a theory making the rounds that Kroenke, as part of a move to take the Rams to L.A., would negotiate a permanent exemption from the rule. After this season, the Rams' lease expires, and Kroenke recently purchased 60 acres near L.A.'s Hollywood Park. A Kroenke spokesperson did not immediately reply for comment. The resolution up for vote today would require Kroenke to report to the league in June '15 about how he plans to divest his Denver teams.
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