Real estate mogul Stan Kroenke would like to buy 100 percent of the St. Louis Rams.
Kroenke excercise his first right of refusal on Shahid Khan's offer to buy the 60 percent ownership stake currently held by Chip Rosenbloom and Lucia Rodriguez. The next step is clearing the league's cross-ownership rules, no small task. Of course, he could agree to put the Colorado Avalanche and the Denver Nuggets up for sale as part of an agreement with the league, and get the cash to purchase the roughly $400 million dollars or so that Rosenbloom and his sister are trying to sell. Or, he could charge in, cash in hand, and lobby the league and owners to make an exception or change the rule.
He also might convince them that he has the wherewithal to get a new stadium built in or around St. Louis.
Either way, the sale of the Rams just took another strange turn.
What does a Kroenke-owned Rams team mean?
First, it means there's a real good chance that the Rams will stick around in St. Louis. Could the real estate developer get a stadium deal done? "The house that Bradford and Kroenke built."
It might also say - and I hate to read too much into this - that the sports enthusiast and shrewd investor thinks that the Rams are headed in a profitable and winning direction.
He could have easily cashed out now, made money on his investment, and put it into the Arsenal or some other investment. Few would blamed him for walking away from the Rams.
There's also the labor agreement that has yet to be resolved (and looking like a case of financial brinkmanship on par with the Cuban Missile Crisis ). Kroenke might be very well convinced that the situation will resolve itself in a manner favorable to owners, and wants to jump into the NFL's most elite group when the buy-in is low.
I still have questions. If the league rejects Kroenke's bid because of the cross-ownership rules, can Khan jump back in? Will he?
Will the league make their decision in May, when they were scheduled to approve Khan's ownership bid?
There is much to be resolved, but it at least keeps it interesting (though I'm sure the front office will be relieved when it's finally settled). I hope film producer Chip Rosenbloom is keeping careful notes because this could be the basis for a pretty interesting flick.