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Rams owner Stan Kroenke headed toward cross-ownership resolution - St. Louis Rams Blog - ESPN
SCHAUMBURG, Ill. -- In gaining approval to become owner of the St. Louis Rams in 2010, Stan Kroenke agreed to transfer ownership of his Denver-based major league sports franchises (the Nuggets and Avalanche) to his son Josh so as to comply with league rules on cross-ownership.
It's a process that was expected to take about four years because of the complications that go with estate planning on a transfer of something so valuable. By the end of last year, Kroenke still hadn't satisfied the requirements but received another extension to get it taken care of.
According to NFL commissioner Roger Goodell, Kroenke should have everything settled soon enough.
"The finance committee has been considering this over some period of time," Goodell said. "They gave Stan until June 15 of this year to submit a plan. He has done so. There was a brief report from Bob McNair, the chairman of the finance committee today. We believe that the plan that he submitted will be in compliance with ownership policies. It’ll be taken to the finance committee probably in September."
The details of Kroenke's plan are unknown at this time but it's clear that whatever he has proposed will likely be approved and won't stand in the way of his efforts to build a palatial new stadium in Inglewood and move the Rams there to play in it.
SCHAUMBURG, Ill. -- In gaining approval to become owner of the St. Louis Rams in 2010, Stan Kroenke agreed to transfer ownership of his Denver-based major league sports franchises (the Nuggets and Avalanche) to his son Josh so as to comply with league rules on cross-ownership.
It's a process that was expected to take about four years because of the complications that go with estate planning on a transfer of something so valuable. By the end of last year, Kroenke still hadn't satisfied the requirements but received another extension to get it taken care of.
According to NFL commissioner Roger Goodell, Kroenke should have everything settled soon enough.
"The finance committee has been considering this over some period of time," Goodell said. "They gave Stan until June 15 of this year to submit a plan. He has done so. There was a brief report from Bob McNair, the chairman of the finance committee today. We believe that the plan that he submitted will be in compliance with ownership policies. It’ll be taken to the finance committee probably in September."
The details of Kroenke's plan are unknown at this time but it's clear that whatever he has proposed will likely be approved and won't stand in the way of his efforts to build a palatial new stadium in Inglewood and move the Rams there to play in it.
