Kroenke becomes majority owner of Rams

Football Betting Lines

08/25/2010 - St. Louis, MO (Sportsbook Betting Lines) - The St. Louis Rams announced on Wednesday that E. Stanley Kroenke has become the majority owner of the club.

The decision was made via a vote by the rest of the league's owners at a meeting in Atlanta.

"Stan has been a familiar and respected figure in the National Football League for more than 15 years," said NFL commissioner Roger Goodell. "He is a proven businessman and has experienced success in all of his sports franchises, as well as serving as a responsible community leader. We look forward to him continuing to uphold the goals and values of the NFL as he becomes the majority owner of the St. Louis Rams."

Previously the minority owner of the Rams, Kroenke played a vital role in the effort to bring professional football back to the Gateway City in 1995.

"We are delighted with today's vote by NFL owners. It is one of the very high points of our long association with the NFL," Kroenke said. "We look forward to working with our fellow owners and Commissioner Goodell as the transaction is finalized and in the years ahead."

Kroenke purchased the remaining 60 percent of the franchise from the Rosenbloom family to gain full ownership. Kroenke owns the Denver Nuggets of the NBA and Colorado Avalanche of the NHL, but based on NFL rules forbidding cross- ownership of major sports teams, will now transfer ownership in those teams to his son, Josh Kroenke.

"Fifteen years ago, my family entered a partnership with Stan Kroenke and it has been a wonderful relationship," said Chip Rosenbloom. "Although today is an emotional day and the end of an era for or family, it is also the beginning of a new chapter in the rich history of the St. Louis Rams. We look forward to Stan continuing the great tradition of the organization."

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