Stan Kroenke will transfer the ownership of the NBA’s Denver Nuggets to his son, Josh, to satisfy the NFL ownership rules as he prepares to buy the remaining shares of the St. Louis Rams.
The NFL does not allow cross-ownership of sports franchises, a highly unusual situation in pro sports. Kroenke now owns 40 percent of the Rams and wants to buy the remaining 60 percent from Chip Rosenbloom (the last family member to own the team, apparently), subject to NFL.
Of course, NFL approval is a given, which means Kroenke must make arrangements for the Nuggets and Avalanche. Transferring ownership of the Nuggets to Josh Kroenke, 30, makes sense: he’s a former college player who served as an intern with the NBA before joining the Nuggets front office. And we’re guessing some sort of similar arrangement will be made with the Avs.
“Our son Josh has been involved with many of our organizations for several years and that family continuity remains a priority,” Kroenke said in a statement to the Denver Post. “My family looks forward to owning the Rams, Nuggets and Avalanche for years to come while being compliant with all stipulations set by the NFL. Our family remains committed to fans in St. Louis and Denver.”