M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

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Sunday, June 13, 2010

Kroenke Plans for the Nuggets Emerge

So it looks like the Rams ownership situation is moving along.  When last we checked, Stan Kroenke was trying to manage the cross-ownership restrictions that would prevent him from completing a purchase of the NFL's St. Louis Rams.  At the time, the scuttle-butt was that he might transfer one of his conflicted interests to his wife.  Multiple sources (herehere, and here) are now reporting that he will sell his interest in the NBA's Denver Nuggets to his 30 year old son, Josh in order to begin the process of removing the cross-ownership conflicts that prevent him from acquiring the Rams.   

According to the Denver Post, NBA Commissioner David Stern has positive things to say about the move: 

NBA commissioner David Stern said his league has not received anything official regarding Kroenke transferring ownership of the Nuggets to Kroenke's son. Stern said a transfer of ownership would have to be approved the NBA's board of governors.

"I know (Josh), I know the family — very smart business and basketball family," Stern said. "I know he's deeply involved in the basketball side of the (Nuggets') operations. I know he also worked (an internship) at the NBA and worked in a number of departments, seeing what the business of basketball is about."

A native of Columbia, Mo., Josh Kroenke was a highly recruited guard coming out of high school basketball. He chose to stay home and play at Missouri, where he was the team captain as a junior and senior. After his sixth-month internship with the NBA, he worked at Lehman Brothers in its global real estate group. He moved to Denver three years ago to work for the Nuggets. He is the vice president of team development.

"He's very business savvy," said Nuggets star Carmelo Anthony. "As an owner, it'll take some time for him to learn everything. But eventually, I think he'll become a great owner."

The fate of the NHL's Avalanche has yet to be announced, but I suppose it wouldn't be too wild a guess to assume that Josh Kroenke will get the Avalanche as well. 

-bjmq

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