RAMS’ OWNERSHIP PLAN HAS SOME OPEN QUESTIONS
Posted by Mike Florio on January 19, 2008, 6:22 p.m.
Jim Thomas of the St. Louis Post-Dispatch reports that Dale “Chip” Rosenbloom
is expected to take control of the Rams following the death of his mother, Georgia Frontiere.
Rosenbloom, 43, is a filmmaker, and he lives in Los Angeles. He was a teenager when his father, Carroll, drowned in 1979, which resulted in Mrs. Frontiere becoming the owner of the team.
She owned 60 percent of the team. Per Thomas, that amount is supposed to be split evenly between Rosenbloom and his sister, Lucia Rodriguez. League rules, however, require at least one person to have the controlling share — which likely means at least 50.000001 percent or more.
Thomas doesn’t address how that will be accomplished, but we assume that Rosenbloom will have to buy out at least two-thirds of his sister’s interest, plus a little bit more.
But what of the other 40 percent, owned by Stan Kroenke? If Rodriguez opts to sell all or part of her interest to Kroenke, he’d be the controlling owner.
Kroenke, however, would have to sell his interests in the NBA’s Denver Nuggets and NHL’s Colorado Avalanche, since NFL rules permit multiple ownership of professional sports teams only if all of them are in the same market.
Alternatively, Kroenke could try to engineer a change or an exception to the rule. Before Wayne Huizenga could buy the Dolphins in the 1990s, the league prohibited ownership of any other pro sports franchises. But Huizenga owned the NHL’s Florida Panthers and baseball’s Florida Marlins. (We can’t recall how the issue specifically got resolved, but got resolved it eventually did.)
The problem is that, for now, there will be no majority owner of the Rams. We’re not aware of any timetable for getting the situation resolved. But it likely will be one of the league’s top business issues for the 2008 offseason.