Columbia billionaire Stan Kroenke has been confirmed as the new owner of the St. Louis Rams.
NFL owners voted unanimously to approve Kroenke’s purchase of the Rams after he satisfied the NFL’s cross-ownership rules. Kroenke will own 60-percent of the Rams, which works out to about a 450-Million dollar stake in the club worth an estimated 750-Million. Kroenke calls the culminationg of a 17-year journey which began in 1993 when Kroenke participated in a failed effort to bring an expansion team to St. Louis. He has been a minority owner of the Rams.
The NFL is giving Kroenke some time to divest his ownership of the Denver Nuggets basketball team and Coloardo Avalanche hockey team to meet cross-ownership rules.