Just what is Kroenke promising NFL regarding Nuggets/Avs

[JerrySloan]

http://espn.go.com/nfl/story/_/id/13420108/clear-momentum-team-los-angeles-owners-meetings-nfl

While Kroenke gained momentum on Tuesday, he also faces an issue as the owner of two professional franchises in Denver. Rules prohibit the ownership of an NFL team in one city and sports franchises in other cities. He had a June 15 deadline to submit a plan to fix that. Goodell said Tuesday that Kroenke submitted a satisfactory plan that does comply with the rules. The Finance Committee will review it in September

Is he simply going to relinquish all interest and control of the Nugs and Avs or is he considering selling them off. Given the fact that he was supposedly a St. Louis "hometown" hero - born in Columbia Missouri - but has no compunction in moving the Rams to California in an apparent neverending pursuit of greater wealth, it wouldn't be surprising if he does whatever is required to meet NFL rules on this issue.

[TunaFish]

I thought this was resolved a year ago by Stan turning over the Nugs/Avs to his son, Josh Kroenke. That was approved by the NFL and is yesterday's news.

[The Rebel]

From what I remember the plan was to make Josh the majority shareholder, and Stan becomes a minority owner, which is legal under the NFL rules from what I understand.

[JerrySloan]

From what I remember the plan was to make Josh the majority shareholder, and Stan becomes a minority owner, which is legal under the NFL rules from what I understand.

Here is something more than "yesterday's news". I quit getting the so-called newspaper, the Denver Post, awhile back but I cannot find anything relevant online from them since this 10/09/2014 story. I can't find any indication announcing he has ever done so.

http://blogs.denverpost.com/broncos/2014/10/09/report-nfl-likely-give-kroenke-extension-transfer-ownership-avs-nuggets/30136/

But according to Sports Business Daily on Monday, the league is likely to give him a 12-month extension to transfer ownership to his son. (The NFL allows such in-family transfers if the receiving member has no part in the team’s operation.) The deal would require Kroenke to inform the league by June of 2015 how he plans to divest his teams.

[tstrick33]

It's not really a news breaker or worthy of a headline, we all knew for years Stan was giving the Nuggets and Avs to Josh. I wouldn't worry about the Nuggets getting sold, this Josh's dream job. They also are one of the wealthiest families in the world so it's safe to say the Nuggets aren't going anywhere any time soon.

[RenK]

Im concerned,the way they are handling with the Rams,threathing etc...The nba will make some new demands for sure to improve the fan expirence and such things,considering that they dont like to invest they own money...They might threat to move the franchise...

[JerrySloan]

Here is the possible issue.

Is Stan required to simply relinquish "control" of the teams - whatever that means - or is he transferring ownership to Josh.

If it were to be the latter, then just how much money is Josh worth in his own right and wouldn't that affect all kinds of financial considerations for both teams?

If it is just "control" of the teams, HTF do you have "control" if the money belongs to Stan and not Josh???????????

[TunaFish]

Google is your friend:

"Denver-based Kroenke Sports & Entertainment (KSE) is one of the world's leading ownership, entertainment and management groups. As owners and operators of Pepsi Center, the Paramount Theatre, Dick's Sporting Goods Park, the Colorado Avalanche (NHL), Denver Nuggets (NBA), Colorado Mammoth (NLL) and Colorado Rapids (MLS), KSE's sports and entertainment assets are second to none."

I would not worry about the Nuggets going anywhere but up. Now the Rams being in St. Louis is a different story.

[RRFB]

Correct me if I'm wrong, but I'm pretty sure when Kroenke bought the Avs and Nuggets he was forced to sign a deal promising to keep the teams in Denver until at least 2020. That said, KSE has too much of an interest in Denver to ever move these teams. Between owning the Nuggets, Avs, Mammoth, and Rapids as well as the Pepsi Center, Dicks Sporting Goods Park and who knows what else, I think it's safe to say they won't be going anywhere anytime soon.

[TunaFish]

Moving the Pepsi Center would be interesting! Wonder where they find a big enough truck?

[tstrick33]

Kroenke has been rumored to want to buy the 104.3 The Fan as well. I honestly have no idea why we are talking about the Kroenke's moving this team, it's highly unlikely any Colorado teams will be moved any time soon. Let's circle around to this thread in about 20 years. Maybe then there will be some sort of talk about moving any of CO's franchises.

[JerrySloan]

I have not said anything about Kroenke move the teams.

I DO believe that< whatever the agreement with the NFL up until recently, it is Stan who has still been the final decision maker on money matters, i.e., new contract parameters, how much could offered to players whom Josh might interested in going after, how much luxury tax would be allowed to accumulate.

So, once again, is it going to be Stan's money that determines the above issues for both teams going forward?

If so, then the NFL's ownership "requirements" are as bogus as the neverending DeflateGate soap opera.

[The Rebel]

What is wrong with the minority share holders setting the budget? From what I understand it has been Josh that has been named the team president and governor for the past few years, which means under league rules he is the person that has been signing off on the deals, but I almost get the impression that you prefer the Nuggets get sold. If that is what you prefer than you must not remember Comsat, nor the fact that the Nuggets were almost moved a couple of times in the 90s, while they have not went out of their way to spend extra money, the fact is the Kroenke's are far better owners than we dealt with immediately prior to them buying the team.

[skywalker33]

I'm with Rebel, I LIKE have a billionaire owner....

[JerrySloan]

What is wrong with the minority share holders setting the budget? From what I understand it has been Josh that has been named the team president and governor for the past few years, which means under league rules he is the person that has been signing off on the deals, but I almost get the impression that you prefer the Nuggets get sold. If that is what you prefer than you must not remember Comsat, nor the fact that the Nuggets were almost moved a couple of times in the 90s, while they have not went out of their way to spend extra money, the fact is the Kroenke's are far better owners than we dealt with immediately prior to them buying the team.

I really don't think it should be that difficult to address my specific question - which has NOTHING to do with wanting a new owner OR wanting the team to be moved.

If Stan were to have ZERO control of the day-to-day operations, which certainly "seems" what the NFL's cross-ownership rules intend, it should be clear that it matters where the financial value which enables Josh to wheel and deal, to go over the cap, deep into luxury territory or, conversely, have to be a relative penny pincher actually resides.

Simply put, is Josh himself, or whomever comprise minority interests, a billionaire, multi-millionaire or what?

If the NFL "requirements" are not bogus, then it is like a rich guy backing a top notch poker player with huge bucks versus the player himself having to play with his own money which is significantly less.

[DaFan334]

I don't think the NFL is overtly concerned with this because of the good relationship that the Kroenke's and Bowlen's have, including co-owning the Colorado Crush when they were in existence. They have co-existed in this city for awhile without stepping on each others toes, no real need to fix something that isn't broken.

[TunaFish]

What is wrong with the minority share holders setting the budget? From what I understand it has been Josh that has been named the team president and governor for the past few years, which means under league rules he is the person that has been signing off on the deals, but I almost get the impression that you prefer the Nuggets get sold. If that is what you prefer than you must not remember Comsat, nor the fact that the Nuggets were almost moved a couple of times in the 90s, while they have not went out of their way to spend extra money, the fact is the Kroenke's are far better owners than we dealt with immediately prior to them buying the team.

I really don't think it should be that difficult to address my specific question - which has NOTHING to do with wanting a new owner OR wanting the team to be moved.

If Stan were to have ZERO control of the day-to-day operations, which certainly "seems" what the NFL's cross-ownership rules intend, it should be clear that it matters where the financial value which enables Josh to wheel and deal, to go over the cap, deep into luxury territory or, conversely, have to be a relative penny pincher actually resides.

Simply put, is Josh himself, or whomever comprise minority interests, a billionaire, multi-millionaire or what?

If the NFL "requirements" are not bogus, then it is like a rich guy backing a top notch poker player with huge bucks versus the player himself having to play with his own money which is significantly less.

Your question has been addressed, you are not understanding the answer. KSE owns and operates the Nuggets (Google it). Stan is a stock holder in that company. It's a private corporate entity with the complete authority to act independently from Stan Kroenke through his son, Josh who runs the corporation. Because it is privately held and not a public corporation, none of us are intimate with the details. However, both the NBA and NFL are fully aware of the arrangement and both have approved. This is not a recent event. This is not an issue. Josh runs the Nuggets through KSE.

As to whether Josh is himself a billionaire, who knows at the moment, but he certainly will be. He and his sister are not only heirs to their father's fortune but also their mother's (Walmart) which is larger that Stan's.

[JerrySloan]

However, both the NBA and NFL are fully aware of the arrangement and both have approved. This is not a recent event. This is not an issue. Josh runs the Nuggets through KSE.

First of all the NFL, SUPPOSEDLY, has not given final approval, which is why I posted this thread.

I fully expect that they will approve and, in doing so, demonstrate, without having to reveal just what the details are, that their cross ownership requirements. are plain and simple B.S.

The ONLY thing that really matters in whatever sleight-of-hand maneuverings of who "controls" the team is who CONTROLS the money that funds the team's operations. If it still is Stan then nothing is different.

If you don't understand that, then gOD bless you.

[The Rebel]

The NFL had to give final approval for the plan prior to Kroenke even buying the majority share of the Rams, where he was already the minority owner.

There is nothing against NFL rules if someone is a minority owner in franchises in other cities, it has been going on for decades, so as long as Josh or anyone else owns .001 shares more of KSE than Stan, then Stan is a minority owner, and as long as someone else is signing the contracts, at the owner meetings, and taking the league phone calls as the owner of the team, then Stan has stayed within the rules.

Also you must not have ever owned a company, all companies have input on their budget from partners, large shareholders, or the board of directors in the company, that is just the way it works. With the way the Kroenke's reportedly have very little debt in any of their sports teams, and the way Stan has always ran his teams as a business, I doubt there has been any need for a cash infusion from any of their shareholders, as that rarely happens in the NBA, in fact the last 2 times I have heard about it were right before Jordan bought the Bobcats and the Hornets were sold to the NBA.

IN other words Stan has input on the budget of the team, just as every large shareholder would, the team is using KSE money so it is not really coming out of anybodies pocket directly, and the NFL approved the plan years ago when Stan bought the Rams. IF that is to hard for you to understand than God Bless You.

[JerrySloan]

[quote]Also you must not have ever owned a company, all companies have input on their budget from partners, large shareholders, or the board of directors in the company, that is just the way it works[quote]


Wow!!

That's pretty funny. I keep getting banned here for being too what......nasty in my replies? But apparently if you are just incredibly condescending it is perfectly fine.

So is it pretty common that posters on this board are "company" owners, which, of course, has nothing whatsoever to do with what specific rules or bylaws of a professional sports league are?

You may or may not be correct in your explanation of what's okay in the NFL in terms of being a minority owner.

What IS certain is the pompous sanctimony of your comment above.

Since you're the moderator, I imagine this post is grounds for being banned.