The beat goes on. As many of you who follow the NFL know, the LA Rams were a mess toward the end of their run in that fine locale. When they moved to STL a 40% stake in the team was purchased by Missouri Billionaire Stan Kroenke. Many here thought his influence would help to right the ship and stabilize the team. Mrs. Frontierie passed away in early 2009 and some thought that SK would step up and buy the full team from the heirs. However, NFL ownership rules did not allow this as SK already owns the Denver Nuggets and Colorado Avalanche. A search was instituted by the heirs to find an owner who would keep the team in STL (Mrs. Frontierie's home town.) Shah Kahn, a central Illinois business man stepped forward with an acceptable offer. The league had their due dilligence period and was about to bring Mr. Kahn's ownership offer up for debate in Owner's Meetings, when SK exercised his right of first refusal. This has really thrown a monkey wrench into the sales proceedings.
It has now been found out by STL media that SK made Mr. Kahn an offer that for a high 8 figure payment, he would not stand in the way of Mr. Kahn's ownership. Mr. Kahn politely refused to pay. Now, the team ownership is up in the air. Mr. Kahn can't be scrutinized by the league until they determine if SK can even own the team. Mr. Kahn is looking for potential investors to buy SK out of his 40%, but there is no telling if he would even want to sell. He just wanted paid to sit on the sidelines and not participate in the sale. In the mean time the team must prepare for the future with the draft this week. The heirs are on the hook for inheritance taxes, but only need to pay the interest as of right now. The situation has the opportunity to get very ugly quickly. If the NFL refuses SK, he could take them to court over their ownership rules. That could lead to a lengthy trial before a verdict was ever reached. At the end of the day, the heirs may have to come up with the tax money before they are able to sell their 60% stake in the team, and an owner committed to keep the franchise in STL may be locked out of the ownership picture.
SK will do what is best for SK's bottom line. He has no loyalty to anyone but himself. How do I know? He wound up owning the Denver properties by swooping in when his sister-in-law and her husband were attempting to finalize the deal to purchase them. If he buys the Rams outright, they will move to the city with the best stadium deal he can get. And, oh yeah, he happens to be on the LA Stadium Committee.