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Stan Kroenke

From Alfawiki
Enos Stanley Kroenke
Born (1947-07-29) July 29, 1947 (age 79)
Occupation(s)Businessman, sports team owner
Known forOwnership of Kroenke Sports & Entertainment, Arsenal F.C., Los Angeles Rams, Denver Nuggets, Colorado Avalanche, Colorado Rapids, Colorado Mammoth

Enos Stanley Kroenke (; born July 29, 1947) is an American billionaire known for his extensive real estate ventures and ownership of professional sports franchises. He controls Kroenke Sports & Entertainment, the parent company overseeing prominent teams such as Arsenal and Arsenal Women competing in the Premier League and Women's Super League, as well as the Los Angeles Rams (NFL), Denver Nuggets (NBA), Colorado Avalanche (NHL), Colorado Rapids (MLS), and Colorado Mammoth (National Lacrosse League).

Due to NFL regulations that prevent ownership of teams in multiple markets, the ownership of the Nuggets and Avalanche is registered under his wife, Ann Walton Kroenke, who is the daughter of Walmart co-founder James "Bud" Walton.

Kroenke’s involvement in sports has sparked controversy. In 2016, he moved the St. Louis Rams franchise to Los Angeles, violating contractual agreements and incurring significant legal expenses across the league. Additionally, in 2021, he participated in the unsuccessful initiative to create a closed European Super League, which would have featured Arsenal.

During his tenure as owner, Kroenke’s teams have collectively won six championships in major American sports leagues: two Super Bowl victories with the Rams, two Stanley Cup titles with the Avalanche, one NBA Championship with the Nuggets, and one MLS Cup with the Rapids. The Colorado Mammoth also secured two National Lacrosse League championships while under his ownership.

Early life and education

Raised in the small town of Mora, Missouri, Kroenke’s upbringing was influenced by his father’s ownership of Mora Lumber Company. His initial employment involved sweeping floors at this lumber yard. At Cole Camp High School, he was active in baseball, basketball, and track athletics.

Real estate

In 1974, Kroenke married Walmart heiress Ann Walton Kroenke. He established the Kroenke Group in 1983, a real estate development company specializing in shopping centers and apartment complexes frequently situated near Walmart locations.

He also serves as chairman of THF Realty, an independent firm focused on suburban retail properties. Founded in St. Louis in 1991, THF Realty's portfolio was valued at over $2 billion by 2016, encompassing more than 100 developments totaling approximately 20 million square feet.

Kroenke's wealth grew substantially following Ann’s inheritance of Walmart shares after her father, co-founder Bud Walton, passed away in 1995.

Other ventures

In 2006, Kroenke partnered with investment manager Charles Banks to purchase Screaming Eagle, a winery located in Napa Valley. By April 2009, Banks had withdrawn from involvement with the winery.

As of 2015, Kroenke owned 848,631 acres of operational ranch land, ranking him as the ninth-largest private landowner in the United States. A notable acquisition was the February 2016 purchase of Texas' Waggoner Ranch, recognized as the largest fenced ranch in the country. Following this acquisition, numerous residents were evicted—including elderly individuals—with one eviction reportedly linked to a resident's suicide accompanied by a note attributing blame to Kroenke.

In August 2017, Kroenke attracted criticism after launching a British outdoor sports television channel that aired hunting programs featuring elephants, lions, and other endangered African wildlife species.

Kroenke Sports and Entertainment

Established in 1999, Kroenke Sports & Entertainment owns Ball Arena in Denver, which hosts the Nuggets, Avalanche, and Mammoth. The company also holds a co-ownership stake in Dick's Sporting Goods Park located in Commerce City, the home stadium of the Rapids. Both facilities were developed under Kroenke's leadership. In 2004, he launched Altitude, a regional sports network designed to compete with FSN Rocky Mountain (currently known as AT&T SportsNet Rocky Mountain), serving as the official broadcaster for his teams. Additionally, he founded TicketHorse to oversee ticket sales across all his franchises.

Denver Nuggets and Colorado Avalanche

Kroenke took full control of the National Basketball Association's Denver Nuggets and the National Hockey League's Colorado Avalanche in 2000 by acquiring them from Charlie Lyons' Ascent Entertainment Group.

Colorado Crush

In 2002, Kroenke joined forces with Denver Broncos owner Pat Bowlen and former quarterback John Elway to co-own the Arena Football League team, the Colorado Crush.

Colorado Mammoth and Colorado Rapids

Expanding his sports holdings in 2004, Kroenke purchased the National Lacrosse League's Colorado Mammoth and the Major League Soccer club Colorado Rapids from Phil Anschutz.

St. Louis Rams

On April 13, 1995, Kroenke acquired a 30% interest in the NFL's Los Angeles Rams, facilitating their relocation from Anaheim to St. Louis. He later exercised his right of first refusal in 2010 to obtain full ownership by buying out the remaining shares from the Frontiere estate, officially becoming sole owner on August 25, 2010. To comply with NFL regulations prohibiting ownership of major league teams in other NFL markets, Kroenke transferred control of the Nuggets and Avalanche to his son Josh by the end of 2010 and reduced his majority stakes by December 2014. Ownership of these teams was subsequently passed to his wife, Ann Walton Kroenke, on October 7, 2015.

Stadium issues

While seeking complete ownership of the Rams in April 2010 and aware of a potential exit clause in their lease at the Edward Jones Dome, Stan Kroenke committed to "doing everything possible to keep the Rams in St. Louis."

In February 2013, an arbitration decision favored the Rams concerning a lease provision mandating that their stadium rank among the NFL’s best facilities. This ruling allowed the team to terminate the original lease and transition to a year-to-year arrangement.

By 2015, Kroenke expressed openness to collaborating with Missouri officials regarding stadium-related matters and met with Governor Jay Nixon at Rams Park in Earth City.

Move to Los Angeles

On January 5, 2015, Kroenke Group partnered with Stockbridge Capital Group to propose constructing a 70,000-seat NFL stadium in Inglewood, California. In response, St. Louis unveiled plans for an open-air venue named National Car Rental Field located downtown. During an NFL relocation presentation, Kroenke asserted that St. Louis was no longer a viable NFL market and questioned the franchise’s financial sustainability there. NFL Commissioner Roger Goodell indicated that St. Louis’s funding proposal did not meet league standards. City officials contested Kroenke’s statements and accused him of misrepresenting facts during owners’ meetings.

Meanwhile, both the Oakland Raiders and San Diego Chargers pursued relocation to Los Angeles with a competing stadium proposal in Carson, California.

On January 4, 2016, all three franchises submitted applications for relocation to Los Angeles for the upcoming season. The Rams released their proposal on January 5; however, St. Louis Mayor Francis Slay, along with the St. Louis Regional Chamber and Forbes, challenged its findings. Some analysts suggested that St. Louis might benefit by avoiding funding a new stadium.

The NFL approved the Rams’ move back to Los Angeles on January 12, 2016, with a vote of 30–2; league owners commended Kroenke’s efforts. The Chargers announced plans to relocate to Los Angeles for the 2017 season, initially playing at Carson before moving into Kroenke’s Inglewood stadium once completed. The Raiders opted instead for relocation to Las Vegas.

On April 12, 2017, St. Louis city and county officials along with the Regional Convention and Sports Complex Authority filed a $790 million lawsuit against the NFL and all teams—including Kroenke—seeking damages related to the Rams’ move. The Rams sought dismissal or arbitration of this suit in July 2017. The Supreme Court denied appeals from Kroenke and the NFL in April 2020. After four years of litigation, a settlement totaling $790 million was reached in November 2021 to resolve all claims.

Arsenal

Kroenke is the proprietor of Arsenal Holdings, which oversees Arsenal F.C. competing in the Premier League and Arsenal W.F.C. participating in the WSL. In April 2007, Kroenke's KSE UK purchased a 9.9% interest in Arsenal Holdings from Granada Ventures, establishing a connection between Arsenal and Kroenke's Colorado Rapids. He subsequently raised his ownership to 12.19%, initially encountering resistance from the board but eventually securing backing as a strategic move against rival bidder Alisher Usmanov.

By June 2008, preparations were underway within the board for Kroenke’s takeover, and on September 19, 2008, he officially joined Arsenal’s board holding a 29.9% stake, just shy of the 29.99% threshold that mandates a full takeover offer for remaining shares.

On April 11, 2011, Kroenke achieved majority control by increasing his shareholding to 62.89%, acquiring stakes from Danny Fiszman and Lady Nina Bracewell-Smith. This move valued the club at £731 million, with an offer of £11,750 per share to secure complete ownership.

In August 2018, Kroenke purchased Alisher Usmanov’s shares for approximately £600 million, elevating his ownership above 90%, thereby enabling compulsory acquisition of all outstanding shares and valuing Arsenal at around £1.8 billion.

In April 2021, Arsenal became one of the founding clubs of the contentious European Super League, which faced swift criticism leading to its rapid collapse within days. The backlash triggered fan demonstrations calling for the Kroenke family to divest their stake; nonetheless, they publicly stated no plans to sell the club.

Los Angeles Gladiators

Kroenke Sports and Entertainment launched the Los Angeles Gladiators esports team in late 2017 as part of the newly formed Overwatch League, with their first season commencing on December 6.

Los Angeles Guerrillas

In 2019, KSE further expanded its esports ventures by establishing the Los Angeles Guerrillas competing in the Call of Duty League. Both teams—the Gladiators and Guerrillas—are based at Hollywood Park, located near Kroenke's Rams stadium.

Awards and honors

Personal life

Kroenke met his wife Ann Walton—an heiress to the Walmart fortune valued at $9.1 billion as of 2023—during a ski vacation in Aspen, Colorado; they wed in 1974. Of German heritage and raised in the Lutheran faith, Kroenke is often referred to as "Silent Stan" due to his reserved public persona.

From a political standpoint, Kroenke contributed $100,000 to the Hillary Victory Fund during the 2016 U.S. presidential election cycle and donated $1 million to Donald Trump’s inaugural committee.

External links

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