Tags: stan kroenke | rams | owner | buys | land | la

Stan Kroenke, Owner of St. Louis Rams, Buys Land in LA

By Morgan Chilson   |   Friday, 31 Jan 2014 05:35 PM

The billionaire owner of the St. Louis Rams, Stan Kroenke, has purchased 60 acres in Inglewood, Calif., that could be used for an NFL stadium, raising hopes the Los Angeles area will once more have an NFL franchise, the Los Angeles Times reported.

"As real estate developers, the Kroenke Organizations are involved in numerous real estate deals across the country and North America," a spokesperson told the Times. "While we can confirm media reports that we recently purchased land in Inglewood, as a private company we don't typically discuss our plans for commercial or residential investments. We have yet to decide what we are going to do with the property but we will look at all options, as we do with all our properties."

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The Rams and Raiders departed Los Angeles in 1994, leaving the city without a franchise. But the Rams haven’t been able to get a stadium in St. Louis, and the Times noted this is the first NFL owner who has bought land in the L.A. area that is large enough to hold a stadium.

NFL commissioner Roger Goodell told the St. Louis Post-Dispatch that fans shouldn’t overreact to the news that Kroenke bought the land.

“I think instead of overreacting, we should make sure we do what's necessary to continue to support the team locally as the fans have done in St. Louis,” he said. “And make sure we do whatever we can to make sure that team is successful in the St. Louis market.”

Goodell also told the Dispatch that any stadium development would require approval of a three-quarters vote, meaning 24 voters would have to approve the development or relocation of a stadium.

“Kroenke and the city have been sparring about improvements to the Edward Jones Dome,” according to the Kansas City Business Journal, which pointed out that the team’s lease said the stadium has to be “first-tier,” which means top quality among the league’s Top 8. If that qualification isn’t met, the Rams might have a loophole to leave.

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