|Born||Enos Stanley Kroenke
July 29, 1947
|Other names||Silent Stan |
|Education||B.A. University of Missouri, 1969
B.S. University of Missouri
MBA. University of Missouri
|Occupation||Owner of Los Angeles Rams
Owner of Kroenke Sports Enterprises
Chairman of THF Realty
Founder of Kroenke Group
Owner of Colorado Rapids
Owner of Arsenal F.C.
|Net worth||US$7.7 billion (September 2015)|
|Spouse(s)||Ann Walton Kroenke (1973–present)|
|Children||2, son Josh and daughter Whitney Ann|
Enos Stanley "Stan" Kroenke (//; born July 29, 1947) is an American business entrepreneur. He is the owner of Kroenke Sports Enterprises, which includes the Denver Nuggets of the NBA, Colorado Avalanche of the NHL, Colorado Rapids of Major League Soccer, Colorado Mammoth of the National Lacrosse League and the Los Angeles Rams of the NFL (the Colorado sports properties are in the name of Josh Kroenke, one of his children, to satisfy NFL ownership restrictions that forbid a team owner from owning teams in other markets). Kroenke is also the largest shareholder of English football club Arsenal.
Kroenke is named after St. Louis Cardinals Hall of Famers Enos "Country" Slaughter and Stan "The Man" Musial. His wife, Ann Walton Kroenke, is the daughter of Walmart co-founder James "Bud" Walton. Kroenke was estimated to be worth $US 7.7 billion by Forbes in 2015.
Kroenke accrued significant wealth when he and his wife Ann inherited a stake in Wal-Mart upon the death of Bud Walton. As of September 2015, that stake is worth $4.8 billion.
He founded the Kroenke Group in 1983, a real estate development firm that has built numerous shopping centers and apartment buildings. Since his marriage to Walton, he has been in the special position to develop many of the plazas near Wal-Mart stores. He is also the chairman of THF Realty, an independent real estate development company that specializes in suburban development. He founded this corporation in St. Louis in 1991.
Kroenke Sports Enterprises
Kroenke is a well-known sports mogul. As the head and owner of Kroenke Sports Enterprises, he bought a 40-percent stake in the National Football League's St. Louis Rams after their relocation to Missouri in 1995. In 2000, he became full owner of both the National Basketball Association's Denver Nuggets and the National Hockey League's Colorado Avalanche, purchasing the team from Charlie Lyons' Ascent Entertainment Group. In 2002, he partnered with Denver Broncos owner Pat Bowlen and former Bronco quarterback John Elway to become part-owner of the Arena Football League's Colorado Crush. He continued to grow his sports empire in 2004 when he purchased the National Lacrosse League's Colorado Mammoth and Major League Soccer's Colorado Rapids from Phil Anschutz.
In 2010, Kroenke exercised his right of first refusal to buy the remaining interest in the Rams from the estate of late owner Georgia Frontiere. On August 25, 2010, he became full owner of the Rams by unanimous consent of the NFL. To gain approval from NFL owners, Kroenke agreed to turn over control of the Denver Nuggets and Colorado Avalanche to his son, Josh, by the end of 2010, and he had to give up his majority stake in both teams in December 2014. The NFL does not allow its owners to hold majority control of major league teams in other NFL markets. On October 7, 2015, the NFL approved transfer of his ownership stake of the Avalanche and Nuggets to his wife, Ann Walton Kroenke.
Kroenke Sports Enterprise also owns Pepsi Center in Denver, home of the Nuggets and Avalanche, and co-owns Dick's Sporting Goods Park in Commerce City, home of the Rapids. Both venues were built by his development company. In 2004, Kroenke launched his own competitor to FSN Rocky Mountain (now known as Root Sports Rocky Mountain), Altitude, a new regional sports network which became the official broadcaster for both of Kroenke's teams on launch. Kroenke also established TicketHorse, a ticket company that provides in-house sales for all of his teams.
Kroenke is a somewhat reclusive man. He is popularly known as "Silent Stan" because he almost never gives interviews to the press. He rarely interferes in his teams' day-to-day operations.
Kroenke is the largest shareholder of Premier League football (soccer) club Arsenal. Arsenal already had a technical link-up with Kroenke's Colorado Rapids when in April 2007 Granada Ventures, a subsidiary of ITV plc, had sold its 9.9-percent stake in Arsenal Holdings plc to Kroenke's KSE UK inc. Kroenke went on to buy further shares in the club, taking his total stake up to 12.19 percent. The club's board initially expressed skepticism that a bid would be in its best interests, but gradually warmed to him as part of counteracting Alisher Usmanov's rival bid for the club.
By June 2008 the board had prepared to let Kroenke take over the club, and on 19 September 2008 it was officially announced that Kroenke had joined the Arsenal board of directors. Kroenke had a beneficial interest in, and controlled voting rights, over 18,594 shares, representing 29.9 percent of the issued shares. Thus, he was nearing the maximum 29.99-percent threshold, beyond which he would be forced to make an offer for all remaining shares.
On 10 April 2011, it was reported that Kroenke was in advanced talks to complete the takeover of Arsenal. The following day, it was announced that he increased his shareholding in Arsenal to 62.89 percent by purchasing the stakes of Danny Fiszman and Lady Nina Bracewell-Smith, and agreed to make an offer for the rest of the club at £11,750 per share, valuing the club at £731M.
Since ownership, none of Kroenke's sport teams have won their respected championships.
St. Louis Rams Relocation to Los Angeles
In April 2010, Stan Kroenke said: "I'm going to attempt to do everything that I can to keep the Rams in St. Louis. "
In February 2013, the Rams and the City of St. Louis went to arbitration over a clause in the Rams lease that stated the Rams current stadium must be in the top tier of NFL Stadiums. The arbitrators agreed with the Rams, giving the Rams the ability to break their original lease and go to a year to year lease agreement.
On January 5, 2015, it was announced that the Kroenke Group was teaming up with Stockbridge Capital Group to build a 70,000 seat NFL stadium and venue in Inglewood, California, a suburb of Los Angeles, threatening the Rams' future in St. Louis. In response, St. Louis countered with National Car Rental Field, a proposed open-air stadium in the north riverfront in downtown St. Louis with the hope of the Rams staying in St. Louis. The fanbase in St. Louis felt it was not being treated fairly—in 2014 the St. Louis Rams had 86% attendance despite a 6-10 record and 10 prior years of non-win seasons., forcing fans and local sportswriters to question the integrity of the NFL and Kroenke for even considering the Los Angeles plans. St. Louis officials felt they were not receiving fair treatment either as Kroenke has (to date) had no talks or discussions with city officials, who have expressed interest in keeping the team in St. Louis. In a radio interview, Kroenke was labeled as "enemy number one" in his home state due to his uncanny willingness to cooperate. NFL Commissioner Roger Godell also stated that St. Louis funding did not meet the criteria set by the NFL, even though St. Louis offered a stadium plan lacking 100 million dollars, but then ultimately gave 300m to Oakland and San Diego for their markets.
The Oakland Raiders and San Diego Chargers are also unhappy with old stadiums (O.co Coliseum in Oakland, California and Qualcomm Stadium in San Diego, California respectively) lacking updated amenities and were proposing a stadium in Carson, California, another suburb of Los Angeles, in competition with Kroenke's Inglewood proposal.
On January 4, 2016, all three teams applied for relocation to Los Angeles for the 2016 NFL season. The following day, the Rams and Stan Kroenke released their proposal for relocation. Some of the Rams' conclusions were disputed by the Mayor of St. Louis Francis Slay (in a letter to Roger Goodell), The St. Louis Regional Chamber, and Forbes.
On January 12, 2016, the NFL approved the Rams' application to relocate from St. Louis back to Los Angeles with a 30-2 vote and Kroenke was praised by other NFL owners afterwards, although the move was generally considered malicious by fans in St. Louis.
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