Tag: Stan Kroenke

Stan Kroenke bought the Woodland Hills Promenade. Will the Rams build a new facility there?

Stan Kroenke has been confirmed as the buyer of the Woodland Hills Promenade. Are the Rams going to build their practice facility there?

Los Angeles Rams owner Stan Kroenke was in negotiations to buy the vacant Promenade mall in Woodland Hills, creating speculation about the team potentially building its headquarters and practice facility there.

Los Angeles City Councilmember Bob Blumenfield told the Los Angeles Daily News that Kroenke did end up buying the vacant mall, but it’s unclear what his plans for the lot are. It was purchased for $150 million back in March.

“We know that that (The Kroenke Group) have different interests and they might put a stadium there,” Blumenfield said. “But unless they come to the city to ask for changes of some sort, and we grant them, they still have to do all what’s required in the entitlements.”

Originally, the Los Angeles City Council’s plan was to build a $1 billion complex on the vacant lot, with entertainment, sports, dining and residential features. That was back in 2020, and the expectation was that it would be completed by 2035 – and would include a 10,000-seat entertainment and sports venue.

That could still be the plan now that Kroenke purchased the land, but it seems logical that the Rams would consider building their practice facility there.

“Nothing is changed on the entitlement,” Blumenfield said. “The only thing that’s changed is that The Kroenke Group bought the property.”

Several notable members of the Rams have recently purchased homes in the Hidden Hills area, which is less than 15 minutes from the Woodland Hills Promenade. That group includes Sean McVay, Aaron Donald and Matthew Stafford, while Jalen Ramsey also lives in Hidden Hills, too.

So, if the Rams do build their facility in Woodland Hills, they would all be close by.

Walmart heir Rob Walton considered the favorite to buy Broncos

With an estimated net worth of $70.5 billion, Rob Walton could easily outbid any of the other known candidates who are interested in buying the Broncos.

Walmart heir Rob Walton is considered the favorite to become the next owner of the Denver Broncos, according to Josh Kosman of The New York Post.

Walton, 77, is the oldest son of late Walmart founder Sam Walton. With an estimated net worth of $70.5 billion, Walton could easily outbid any of the other known candidates who are interested in buying the team.

The Carolina Panthers were the most recent NFL team to be sold, going for $2.2 billion in 2018, but a sale of the Broncos could double that. Walton is believed to have already submitted a bid north of $4 billion, according to The Post. If successful, that would be the most expensive purchase in U.S. sports history.

Los Angeles Rams owner Stan Kroenke — whose family also owns the Denver Nuggets, Colorado Avalanche and Colorado Rapids (among other sports teams) — is married to Walton’s cousin, Ann.

Walton became Walmart’s chairman after his father’s death in 1992 and he held that role until retiring in 2015. Walton was born in Oklahoma and he now lives in Arizona.

The Broncos have said they hope to complete a sale of the team before the 2022 NFL season begins in September.

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Harrison Wind: Can’t remember ever …

Yet I’d likewise suspect that …

Yet I’d likewise suspect that Porter-related pressure on Nuggets executives is not what it appears from the outside because Porter’s biggest fan, league sources say, is Stan Kroenke. Owner and player share Missouri as an alma mater and Kroenke — although he relinquished day-to-day governance of the Nuggets to son Josh to adhere to the NFL’s rules about cross-ownership of various sports franchises — is said to have been Porter’s No. 1 backer in the organization since the day Denver drafted him.

NFL, Rams reach $790M settlement with St. Louis in relocation suit

St. Louis, the NFL and the Rams have reached an agreement on the city’s relocation suit

The four-year drama between St. Louis, the Rams, and the NFL has come to a conclusion.

Stltoday.com reported Wednesday the parties have agreed to a $790M settlement in the case sparked by the team’s move from St. Lous to Los Angeles.

Per the report:

The settlement does not include an expansion football team for St. Louis, a source said. It was not immediately clear how much of the settlement would be paid by Los Angeles Rams owner Stan Kroenke, who moved the Rams from St. Louis in 2016, and how much would be paid by the NFL.

The city, county and dome authority filed the civil suit against Kroenke, the Rams, the league and its owners in 2017, alleging the league broke its own relocation rules that were established decades ago to avoid antitrust liability.

Rams’ Stan Kroenke threatens to settle St. Louis lawsuit separately from NFL and other owners

Stan Kroenke has threatened to settle the St. Louis lawsuit separately from the NFL and other owners.

Rams owner Stan Kroenke has already caused some turmoil among other NFL owners after attempting to back out of his promise to pay tens of millions of dollars in legal expenses stemming from the ongoing lawsuit after the Rams moved from St. Louis to Los Angeles. His next move wouldn’t make things any better.

According to Sports Business Journal’s Ben Fischer, Kroenke is threatening to settle the lawsuit on his own, separately from the NFL and the other 31 owners. That would force the rest of the league to go to trial in January without him and likely leaving owners with serious expenses.

SBJ acquired the email sent by Kroenke’s representatives to league officials and other owners and lawyers.

“If we continue to not get any assurances from the league regarding allocation (of damages), we will have no choice but to try to resolve the case on behalf of only the Rams and Mr. Kroenke,” the email reads. “We do not want to do that. We want everyone’s participation — or some assurance from the league that a settlement will be allocated fairly. But we have not gotten that assurance to date, nor any suggestion that the league will try to settle the case and address allocation later.”

The trial is set for Jan. 10 but it’s clear Kroenke is doing what he can to settle the suit before it goes to trial. According to SBJ, Kroenke and his representatives believe they can settle the case for $500-750 million.

The Rams moved from St. Louis to Los Angeles in 2016, a move that needed to be approved by the rest of the NFL owners. The lawsuit filed by the city of St. Louis and the St. Louis Regional Convention & Sports Complex Authority has complicated things as they argue the league and the Rams were misleading about the move to Los Angeles and broke the relocation guidelines.

Report: NFL owners upset with Stan Kroenke over expenses stemming from Rams’ move to LA

According to ESPN, Stan Kroenke has angered NFL owners after they learned he may be backing out of a promise to pay tens of millions of dollars in legal expenses from Rams’ move to LA

The Rams and other NFL owners have been involved in a lawsuit from the St. Louis Regional Convention and Sports Complex authority for the last four years following the team’s departure from St. Louis to Los Angeles. It’s been a costly lawsuit for Rams owner Stan Kroenke and the league, causing some internal frustration among team owners.

ESPN’s Seth Wickersham reported Wednesday that NFL owners are upset with Kroenke after learning that he “may be trying to back away from his promise to cover tens of millions of dollars in legal expenses” stemming from the Rams’ move to Los Angeles in 2016.

This discovery was made at the NFL owners meeting in New York on Tuesday, the league’s first in-person meeting since 2019. NFL general counsel Jeff Pash delivered the news, telling those in attendance that the league has been notified by Kroenke’s attorneys that Kroenke is “challenging the indemnification agreement” that the Rams, Chargers and Raiders signed back in 2016.

The case has entangled all 32 teams and cost millions in legal fees, which to this point have been mostly covered by Kroenke under an indemnification agreement he signed as part of the relocation. For some teams, the bills have run to eight figures.

Although Kroenke has been in discussions with the league for some time over the scope of the indemnification agreement, owners first learned of a shift in his position several hours into Tuesday’s meeting at the Intercontinental New York Barclay hotel.

According to Wickersham’s report, Jerry Jones spoke up and defended Kroenke, saying he has done a lot for the NFL and helped Los Angeles get a team after 22 years without one. Jones has been a strong backer of Kroenke through all of this and was instrumental in the Rams’ move to L.A., as well.

Patriots owner Robert Kraft wasn’t as supportive of Kroenke, however, expressing frustration with the hassle that has come from the Rams’ relocation and St. Louis’ lawsuit. Teams have been required to provide phone records and emails , while Kroenke and five other owners – Clark Hunt of the Chiefs, John Mara of the Giants, former Panthers owner Jerry Richardson, Jerry Jones and Robert Kraft – were all required to turn over financial records stemming from St. Louis’ lawsuit.

Next came Kraft, who sources said seemed to speak for many in the room that Kroenke’s position was unfair. He mentioned all the legal hassle that he had gone through. In 2016, he had served on a six-person LA committee. He argued that if providing financial records as a result of lawsuits would be a consequence of serving on league committees, it would dissuade other owners from wanting to be on committees and making consequential decisions for the league.

The trial in this ongoing lawsuit is set for January, just a month before Super Bowl LVI is set to be played at SoFi Stadium in Inglewood.

Arsenal fans call for Stan Kroenke to sell the team in protest over Super League mess

The images and videos from the protest are amazing.

Arsenal was among the teams that decided to pull out the European Super League that caused so much chaos and pain in the soccer world before it basically collapsed.

We’ve seen some protests from fans already, and even though — as I said — Arsenal is pulling out, there are die-hards who are protesting, calling for owner Stan Kroenke — the same guy who owns the Los Angeles Rams and has his hand in other big-name franchises all over sports — to sell the team.

So here’s a look at fans outside of Emirates Stadium protesting and chanting for Kroenke to be out even after the Super League mess:

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Rams’ Stan Kroenke is the 14th-richest owner in sports

Stan Kroenke is worth an estimated $8.2 billion, making him the 14th-richest sports team owner in the world.

Forbes released its updated list of the richest sports owners in the world for 2021 and it’s no surprise that Stan Kroenke is among the 15 wealthiest. According to Forbes, Kronke’s estimated net worth is $8.2 billion, making him the 14th-richest owner in sports.

He’s two spots behind Cowboys owner Jerry Jones ($8.9 billion) and six behind Panthers owner David Tepper ($14.5 billion), making him the third-richest owner in the NFL. In addition to the Rams, Kroenke also owns Arsenal, the Nuggets, the Avalanche and the Colorado Rapids, which are all held by Kronke Sports & Entertainment.

According to Forbes, Kronke’s net worth decreased by 18% in the last year, which could be partly due to the pandemic and the lost revenue for all his teams because of the absence of fans at games.

Kroenke, 73, founded Kroenke Sports & Entertainment in 1999. He purchased a 30% stake in the Rams in 1995, helping move the team from Anaheim to St. Louis. He then bought the rest of the team in 2010 and moved the Rams from St. Louis to Los Angeles in 2016.

The move back to L.A. has been a great one for the Rams, now playing in a state-of-the-art stadium, SoFi Stadium, which cost $5 billion to build.

Rams owner Stan Kroenke is 59th-richest person in America

Stan Kroenke is the third-wealthiest owner in the NFL, too.

Stan Kroenke upset a lot of fans when he decided to move the Rams from St. Louis to Los Angeles, stripping the city of its beloved NFL team. However, as painful as that was, the Rams owner has built something special in Southern California.

With the opening of SoFi Stadium in Inglewood, the Rams officially have a new home – and it’s a spectacular one, too. Kroenke is seeing the returns of the move, too, with the value of the Rams increasing by the year, thus growing his net worth, too.

According to Forbes, Kroenke is the 59th-richest person in America in 2020 with a net worth of $8.3 billion. He’s third among NFL owners, behind David Tepper of the Panthers (41st) and Jerry Jones of the Cowboys (56th).

Of course, the Rams aren’t Kroenke’s only source of wealth. He’s also a real estate mogul, owning 30 million square feet of real estate. His company, Kroenke Sports & Entertainment, also owns the Nuggets, Avalanche, Colorado Rapids and Arsenal.

Surprisingly, his net worth actually decreased from last year to 2020, dropping from $9.7 billion to $8.3 billion, which is about where it was in 2018 ($8.5 billion).