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| Kroenke set to buy St Louis Rams | Kroenke set to buy St Louis Rams |
| (19 minutes later) | |
| US billionaire Stan Kroenke has said he intends to take full ownership of the St Louis Rams American football team. | US billionaire Stan Kroenke has said he intends to take full ownership of the St Louis Rams American football team. |
| The move surprised observers as it was thought that Mr Kroenke was focusing on a possible bid for Arsenal football club, where he already holds 29.98%. | The move surprised observers as it was thought that Mr Kroenke was focusing on a possible bid for Arsenal football club, where he already holds 29.98%. |
| Mr Kroenke, who owns 40% of the Rams, will have to spend about $750m (£486m)to buy the rest of the NFL team. | Mr Kroenke, who owns 40% of the Rams, will have to spend about $750m (£486m)to buy the rest of the NFL team. |
| However, Henk Potts, analyst at Barclays Stockbrokers, said the Rams' deal did not preclude an Arsenal bid. | However, Henk Potts, analyst at Barclays Stockbrokers, said the Rams' deal did not preclude an Arsenal bid. |
| The owners of the remaining 60% stake in the Rams, Chip Rosenbloom and Lucia Rodriguez, had struck a deal to sell their controlling interest to businessman Shahid Khan. | The owners of the remaining 60% stake in the Rams, Chip Rosenbloom and Lucia Rodriguez, had struck a deal to sell their controlling interest to businessman Shahid Khan. |
| But Mr Kroenke had first refusal on that stake, and had until a deadline on Monday to decide whether to exercise his option. | But Mr Kroenke had first refusal on that stake, and had until a deadline on Monday to decide whether to exercise his option. |
| He said in a statement: "We look forward to working with the Rosenbloom family and the NFL to complete this transaction. We will respect the league and its processes in our efforts to complete this transaction." | He said in a statement: "We look forward to working with the Rosenbloom family and the NFL to complete this transaction. We will respect the league and its processes in our efforts to complete this transaction." |
| MATT SLATER'S BLOG Kroenke has shocked US observers by deciding to match Khan's $750m bid for the Rams | MATT SLATER'S BLOG Kroenke has shocked US observers by deciding to match Khan's $750m bid for the Rams |
| However, he is now likely to fall foul of the NFL's cross-ownership rules, which state that owners cannot have a majority interest in an NFL team in one city if they control another major league sports team elsewhere in the US. | However, he is now likely to fall foul of the NFL's cross-ownership rules, which state that owners cannot have a majority interest in an NFL team in one city if they control another major league sports team elsewhere in the US. |
| Mr Kroenke already owns the NBA's Denver Nuggets basketball team, the NHL's Colorado Avalanche hockey team and Major League Soccer's Colorado Rapids. | Mr Kroenke already owns the NBA's Denver Nuggets basketball team, the NHL's Colorado Avalanche hockey team and Major League Soccer's Colorado Rapids. |
| His move will raise further questions about the future ownership of Arsenal, the English Premier League club. | His move will raise further questions about the future ownership of Arsenal, the English Premier League club. |
| On Monday it emerged that another Arsenal shareholder, Lady Nina Bracewell-Smith, who holds 15.9% of the club, was seeking to sell her stake. | On Monday it emerged that another Arsenal shareholder, Lady Nina Bracewell-Smith, who holds 15.9% of the club, was seeking to sell her stake. |
| Mr Kroenke already owns a number of US sports clubs | |
| The move was expected to prompt a bidding war between Mr Kroenke and his main rival, Russian tycoon Alisher Usmanov, who has 26.29% of the club's shares. | The move was expected to prompt a bidding war between Mr Kroenke and his main rival, Russian tycoon Alisher Usmanov, who has 26.29% of the club's shares. |
| If a shareholder's stake in a company reaches 30%, he or she has to offer to buy the entire stockholding. | If a shareholder's stake in a company reaches 30%, he or she has to offer to buy the entire stockholding. |
| Henk Potts said: "Obviously, the Rams deal involves a significant amount of money and could be a significant distraction for Mr Kroenke in the short term. | |
| "But what it does show is that Mr Kroenke is a serious investor in sport, and I'm sure he has enough money to do an Arsenal deal if he wants." | "But what it does show is that Mr Kroenke is a serious investor in sport, and I'm sure he has enough money to do an Arsenal deal if he wants." |
| Arsenal manager Arsene Wenger said he was not concerned about a potential takeover of the club. | Arsenal manager Arsene Wenger said he was not concerned about a potential takeover of the club. |
| "It doesn't affect the way we work and the philosophy we have here at the club," he told a press conference ahead of Wednesday's game against Tottenham. | "It doesn't affect the way we work and the philosophy we have here at the club," he told a press conference ahead of Wednesday's game against Tottenham. |
| "It could be an unknown party but in our job you adapt and as long as I am free to work the way I want, I don't want to interfere with that. There is no special worry." | "It could be an unknown party but in our job you adapt and as long as I am free to work the way I want, I don't want to interfere with that. There is no special worry." |