Stan Kroenke Net Worth: How He Became a Billionaire? Latest News 2022!

Stan Kroenke is an American businessman worth a billion dollars. Kroenke Sports & Entertainment is the holding company of Arsenal F.C. and Arsenal W.C. of the Premier League, the Los Angeles Rams of the NFL, Denver Nuggets of the NBA, Colorado Avalanche of the NHL, Colorado Rapids of Major League Soccer, Colorado Mammoth of the National Lacrosse League, the Los Angeles Gladiators of the Overwatch League, and the Los Angeles Guerrillas of the Call of Duty League.

Controversial is Kroenke’s holding company for sports teams. He moved the St. Louis Rams to Los Angeles in 2016, renaming the team the Los Angeles Rams. In 2021, Kroenke attempted but failed to end the traditional European football system by establishing a closed European Super League that would have included Arsenal and several other clubs. Under Kroenke’s (partial or full) ownership, his teams have won a total of three major championships, with the Rams winning two Super Bowls and the Avalanche winning the Stanley Cup.

Additionally, he serves as the chairman of THF Realty, an independent real estate development company specialising in suburban development. In 1991, he founded this company in St. Louis, Missouri. In 2016, THF’s portfolio was valued at over $2 billion and comprised of more than 100 projects totaling 20 million square feet, the majority of which were retail shopping centres.

Early years

Enos Stanley Kroenke was born in Mora, Missouri, United States on July 29, 1947 (age 74). He is the son of Alvin Kroenke and Evelyn P. Kroenke. His father owned Mora Lumber Company in an unincorporated community with a population of approximately two dozen, where he grew up. His first job was as a floor sweeper at his father’s lumber yard. He was keeping the company’s books by the age of ten. At Cole Camp High School in Missouri, he participated in baseball, basketball, and track.

He is of German descent and Lutheran upbringing. Kroenke is a somewhat reclusive individual who shuns the limelight. He is commonly referred to as “Silent Stan” because he rarely grants interviews to the media. He rarely interferes with the day-to-day operations of his teams.

Career

In 2006, Stan Kroenke and Charles Banks acquired the Napa Valley winery Screaming Eagle in partnership. Banks announced in April 2009 that he was no longer personally associated with Screaming Eagle.

Kroenke is a major owner of working ranches, with 848,633 acres under his control. In 2015, Land Report magazine ranked him as the ninth-largest landowner in the United States. His February 2016 acquisition of the renowned Waggoner Ranch in Texas, the largest ranch within one fence, is notable.

In August of 2017, he was criticised for launching a British outdoor sports television channel that will regularly broadcast hunting programmes involving the killing of elephants, lions, and other endangered African species. Late in 2017, however, Kroenke Sports and Entertainment established a new esports team franchise, the Los Angeles Gladiators, in the newly founded Overwatch League. Their inaugural season began on December 6.

Kroenke Sports and Entertainment established its second esports team in 2019. The Los Angeles Guerrillas of the Call of Duty League were founded by them. They, along with the Los Angeles Gladiators of the Overwatch League, play in the same stadium as Kroenke’s Rams.

Professional athletics

Kroenke Sports & Entertainment, founded by Stan Kroenke in 1999, owns Ball Arena in Denver, where the Nuggets and Avalanche play, and co-owns Dick’s Sporting Goods Park in Commerce City, where the Rapids play. Both venues were constructed by his development firm. In 2004, Kroenke launched Altitude, a new regional sports network, as a competitor to FSN Rocky Mountain (now AT&T SportsNet Rocky Mountain). Upon launch, Altitude became the official broadcaster for both of Kroenke’s teams. Additionally, Kroenke founded TicketHorse, a ticketing company that provides in-house sales for each of his teams.

Stan Kroenke Net Worth

In 2000, Kroenke purchased the National Basketball Association’s Denver Nuggets and the National Hockey League’s Colorado Avalanche from Charlie Lyons’ Ascent Entertainment Group. Kroenke became the sole owner of both teams. In 2002, he formed a partnership with Denver Broncos owner Pat Bowlen and former Broncos quarterback John Elway to acquire a stake in the Colorado Crush of the Arena Football League.

In 2004, he expanded his sports empire by purchasing the Colorado Mammoth of the National Lacrosse League and the Colorado Rapids of Major League Soccer from Phil Anschutz. Stan Kroenke assisted Georgia Frontiere in relocating the Los Angeles Rams of the National Football League from Anaheim to St. Louis by purchasing a 30 percent stake in the team on April 13, 1995.

In 2010, Stan Kroenke exercised his right of first refusal to purchase the deceased owner Georgia Frontiere’s remaining stake in the Rams from his estate. By unanimous vote of the NFL, he became sole owner of the Rams on August 25, 2010. Kroenke agreed to hand over control of the Denver Nuggets and Colorado Avalanche to his son Josh by the end of 2010, and he was required to sell his majority stake in both teams by December 2014. The NFL prohibits its owners from holding majority ownership of major league franchises in other NFL markets. The NFL approved the transfer of his ownership stake in the Avalanche and Nuggets to his wife Ann Walton Kroenke on October 7, 2015.

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Stadium issues

In April 2010, when Stan Kroenke was attempting to gain full ownership of the team and was aware of an escape clause in the Rams’ lease at the Edward Jones Dome, he stated, “I will do everything in my power to keep the Rams in St. Louis.”

The Rams and the City of St. Louis went to arbitration in February 2013 over a clause in the Rams’ lease that required their current stadium to be in the top tier of NFL venues. The arbitrators agreed with the Rams, allowing them to terminate their original lease and enter into a year-to-year lease.

Stan Kroenke Net Worth

On November 30, 2015, Stan Kroenke met with Missouri Governor Jay Nixon at Rams Park in Earth City, Missouri. He stated that he was willing to work with Missouri officials and provided Nixon with a “complete understanding” of the stadium situation.

Los Angeles Rams

On January 5, 2015, it was announced that the Kroenke Group and Stockbridge Capital Group would construct a 70,000-seat NFL stadium and venue in Inglewood, California, a Los Angeles suburb, threatening the Rams’ future in St. Louis. In an effort to keep the Rams in St. Louis, St. Louis proposed National Car Rental Field, an open-air stadium along the north riverfront in downtown St. Louis.

Kroenke stated at the NFL relocation presentation that St. Louis was no longer a viable market for the league and would be best served by two teams. Kroenke also questioned the team’s financial future. Roger Goodell, the commissioner of the NFL, stated that the St. Louis funding did not meet the league’s requirements. Officials from St. Louis countered that Kroenke was misrepresenting the city and defended that St. Louis was misrepresented at the owners’ meetings.

The Oakland Raiders and San Diego Chargers were also dissatisfied with their outdated old stadiums (Oakland Coliseum in Oakland and Qualcomm Stadium in San Diego, respectively) and had proposed a stadium in Carson, California (another Los Angeles suburb) to compete with Kroenke’s Inglewood proposal.

All three teams submitted relocation requests to Los Angeles for the 2016 NFL season on January 4, 2016. The next day, the Rams and Stan Kroenke revealed their relocation proposal. Some of the Rams’ conclusions were contested by St. Louis Mayor Francis Slay (in a letter to Roger Goodell), the St. Louis Regional Chamber of Commerce, and Forbes. Nonetheless, some argued that staying in St. Louis was ultimately a bad deal for the city, and that the city would be better off without them.

On January 12, 2016, the NFL approved the Rams’ request to relocate from St. Louis to Los Angeles with a 30–2 vote, and Kroenke was subsequently praised by other NFL owners. The Chargers announced in 2017 that they would relocate to Los Angeles for the 2017 season, with the intention of initially playing games in Carson before moving to Kroenke’s Inglewood Stadium pending completion. Subsequently, the Raiders announced their relocation to Las Vegas, Nevada.

The City of St. Louis, St. Louis County, and the Regional Convention and Sports Complex Authority reportedly filed a 52-page lawsuit against the NFL and all 32 NFL clubs (including Stan Kroenke) on April 12, 2017, seeking damages and restitution of profits. The Los Angeles Rams filed three motions on July 12, 2017 in an effort to dismiss the case for failure to state a claim, dismiss the case for lack of personal jurisdiction, and appeal to have the case decided by arbitration rather than a St. Louis-based jury.

Judge Christopher McGraugh will rule on all of the motions in the case. The Supreme Court denied Kroenke and the NFL’s appeal of the lawsuit on April 20, 2020. After four years of litigation, it was announced on November 24, 2021, that the NFL, Kroenke, and various St. Louis parties had agreed to a $790 million settlement to end the case.

Arsenal

Stan Kroenke is the owner of Arsenal Holdings plc, which owns Premier League club Arsenal F.C. and Women’s Soccer League club Arsenal W.F.C. When Granada Ventures, a subsidiary of ITV plc, sold its 9.9 percent stake in Arsenal Holdings plc to Kroenke’s KSE UK in April 2007, Arsenal already had a technical connection with Kroenke’s Colorado Rapids.

Kroenke subsequently acquired additional club shares, bringing his total stake to 12.19 percent. In an effort to counter Alisher Usmanov’s rival bid for the club, the club’s board gradually warmed up to the bidder despite their initial scepticism.

The board had prepared for Kroenke to take over by June 2008, and on September 19, 2008, it was announced that Kroenke had joined the board of directors. Kroenke possessed a beneficial interest in and exercised voting control over 18,594 shares, or 29.9 percent of the outstanding shares. Nearing the maximum 29.99 percent threshold, beyond which an offer would be required for all remaining shares.

It was reported on April 10, 2011 that Kroenke was in advanced negotiations to complete the acquisition. The next day, it was announced that he had increased his shareholding to 62.89 percent by acquiring the stakes of Danny Fiszman and Lady Nina Bracewell-Smith and had agreed to make an offer for the remaining shares at £11,750 per share, valuing the club at £731 million.

In August of 2018, he made Alisher Usmanov an offer of approximately £600 million valuing the total shareholding at £1.8 billion, which was accepted, in order to increase his share ownership to more than 90 percent and force the compulsory purchase of the remaining shares.

Arsenal was announced as a founding member of the European Super League in April 2021. This would have effectively ended the pyramid system of European football and placed Arsenal in a closed league without the possibility of merit-based relegation and promotion. After a strong backlash, Arsenal and the other five English clubs involved withdrew from the tournament within two days. Arsenal protested the failed attempt to abolish the European football system and demanded that the Kroenke family sell the club. The Kroenke family issued a statement indicating that they will not sell the club.

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Wife

Stan Kroenke married his longtime girlfriend, Ann Walton, in 1974. His wife Ann Walton is an heiress of Walmart. The couple has four children Josh Kroenke, Whitney Ann Kroenke, Katie Kroenke, and Brett Kroenke. Kroenke met his future wife, Walmart heiress Ann Walton, on a skiing trip to Aspen, Colorado. The couple wed in 1974. When James “Bud” Walton, Ann’s father, died in 1995, he and Ann inherited a stake in Walmart. He was already wealthy due to his real estate investments, but he became even wealthier when he and Ann inherited the stake. As of September 2015, the value of this stake was $4.8 billion. The Nuggets and Avalanche franchises, however, are held in the name of his wife, Ann Walton Kroenke, to comply with NFL ownership restrictions that prohibit a team owner from owning teams in other markets. Ann is the daughter of James “Bud” Walton, co-founder of Walmart.

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Stan Kroenke net worth

How much is Stan Kroenke worth? The estimated net worth of Stan Kroenke is approximately $10.7 billion. Kroenke’s primary source of income is his business career. His successful career has afforded him a luxurious lifestyle and trips in exotic automobiles. He is among the wealthiest and most powerful individuals in the United States. In contrast, he donated $100,000 to the Hillary Victory Fund during the 2016 U.S. presidential campaign. Subsequently, he contributed $1 million to the inaugural committee of Donald Trump.

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