E. Stanley Kroenke
Encyclopedia
Enos Stanley "Stan" Kroenke (ˈkrɒŋki; born July 29, 1947 in Columbia, Missouri
) is an American
business entrepreneur
. His wife, Ann Walton Kroenke
, is the daughter of Wal-Mart
cofounder Bud Walton. Kroenke is also the owner of Kroenke Sports Enterprises, which includes the Denver Nuggets
of the NBA
, Colorado Rapids
of Major League Soccer
, Colorado Avalanche
of the NHL
, Colorado Mammoth
of the National Lacrosse League
and St. Louis Rams
of the NFL
(the Colorado sports properties are in the name of Josh Kroenke, one of his children, to satisfy NFL ownership restrictions that forbid a team owner from owning teams in other markets). He is also the majority shareholder of English
football club Arsenal
. He currently lives in Columbia, Missouri. Kroenke was estimated to be worth $US
3.2 billion by Forbes
in 2011.
, Bachelor of Science
and a Masters of Business Administration from the University of Missouri
. He founded the Kroenke Group in 1983, a real estate development firm that has constructed numerous shopping centers and apartment buildings. Since his marriage to Walton, he has been in the special position to develop many of the plazas near Wal-Mart
stores. He is also the chairman of THF Realty
, an independent real estate development company that specializes in suburban development. He founded this corporation in St. Louis in 1991.
. As the head and owner of Kroenke Sports Enterprises, he has owned 40% of the National Football League
's St. Louis Rams
since their relocation to Missouri in 1995. In 2000, he became full owner of both the National Basketball Association
's Denver Nuggets
and the National Hockey League
's Colorado Avalanche
, purchasing the team from Charlie Lyons
' Ascent Entertainment Group. In 2002, he partnered with American football legend John Elway
and Denver Broncos owner Pat Bowlen
to become owner of the Arena Football League's Colorado Crush
. He continued to grow his sports empire in 2004, when he purchased the National Lacrosse League
's Colorado Mammoth
and Major League Soccer
's Colorado Rapids
from Phil Anschutz.
In 2010, Kroenke exercised his right of first refusal
to buy the remaining interest in the St. Louis Rams. On August 25, 2010, he became full owner of the Rams by unanimous consent of the NFL. To gain approval from NFL owners, Kroenke agreed to turn over control of the Denver Nuggets and Colorado Avalanche to his son, Josh, by the end of 2010, and he must give up his majority stake in both teams by December 2014. The NFL does not allow its owners to hold majority control of major league teams in other NFL markets.
Kroenke Sports Enterprise also owns Pepsi Center
in Denver, home of the Nuggets and Avalanche, and co-owns Dick's Sporting Goods Park in Commerce City
, home of the Rapids. Both venues were built by his development company. In 2004, Kroenke launched his own competitor to FSN Rocky Mountain (now known as Root Sports Rocky Mountain), Altitude
, a new regional sports network
which became the official broadcaster for both of Kroenke's teams on launch. Kroenke also established TicketHorse, a ticket company that provides in-house sales for all of his teams.
Kroenke is a somewhat reclusive man who stays out of the limelight. He is popularly known as "Silent Stan" because he almost never gives interviews to the press. He rarely interferes in his teams' day-to-day operations.
Kroenke is the largest shareholder of Premier League football club Arsenal
. Arsenal already had a technical link-up with Kroenke's Colorado Rapids when in April 2007 Granada Ventures, a subsidiary of ITV plc
, had sold their 9.9% stake in Arsenal Holdings plc to Kroenke's KSE UK inc. Kroenke went on to buy further shares in the club, taking his total stake up to 12.19%. The club's board initially expressed skepticism that a bid would be in its best interests, but gradually warmed to him as part of counteracting Alisher Usmanov
's rival bid for the club.
By June 2008 the board had prepared to let Kroenke take over the club, and on 19 September 2008 it was officially announced that Kroenke had joined the Arsenal board of directors. Kroenke has a beneficial interest in, and controls voting rights over, 18,594 Shares, representing 29.9% of the issued Shares meaning he is nearing the 29.99% threshold, beyond which he would be forced to make an offer for all the remaining shares.
On 10th April 2011, it was reported that Kroenke was in advanced talks to complete the takeover of Arsenal. The following day, it was announced that he increased his shareholding in Arsenal to 62.89% by purchasing the stakes of Danny Fiszman
and Lady Nina Bracewell-Smith
, and agreed to make an offer for the rest of the club at £11,750 per share, valuing the club at £731M.
winery
Screaming Eagle
. (In April 2009, Banks stated he was no longer involved with Screaming Eagle).
Columbia, Missouri
Columbia is the fifth-largest city in Missouri, and the largest city in Mid-Missouri. With a population of 108,500 as of the 2010 Census, it is the principal municipality of the Columbia Metropolitan Area, a region of 164,283 residents. The city serves as the county seat of Boone County and as the...
) is an American
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
business entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
. His wife, Ann Walton Kroenke
Ann Walton Kroenke
Ann Walton Kroenke is, indirectly, an heir to part of the Wal-Mart fortune. Along with her sister, Nancy Walton Laurie, Kroenke inherited stock from father, Bud Walton , who was an early business partner and brother of Wal-Mart founder Sam Walton...
, is the daughter of Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
cofounder Bud Walton. Kroenke is also the owner of Kroenke Sports Enterprises, which includes the Denver Nuggets
Denver Nuggets
The Denver Nuggets are a professional basketball team based in Denver, Colorado. They play in the National Basketball Association . They were founded as the Denver Rockets in 1967 as a charter franchise of the American Basketball Association, and became one of that league's more successful teams...
of the NBA
National Basketball Association
The National Basketball Association is the pre-eminent men's professional basketball league in North America. It consists of thirty franchised member clubs, of which twenty-nine are located in the United States and one in Canada...
, Colorado Rapids
Colorado Rapids
The Colorado Rapids are an American professional soccer club based in the Denver suburb of Commerce City, Colorado which competes in Major League Soccer , the top professional soccer league in the United States and Canada. It is one of the ten charter clubs of MLS, having competed in the league...
of Major League Soccer
Major League Soccer
Major League Soccer is a professional soccer league based in the United States and sanctioned by the United States Soccer Federation . The league is composed of 19 teams — 16 in the U.S. and 3 in Canada...
, Colorado Avalanche
Colorado Avalanche
The Colorado Avalanche are a professional ice hockey team based in Denver, Colorado, United States. They are members of the Northwest Division of the Western Conference of the National Hockey League . The Avalanche have won the Stanley Cup twice, in 1995–96 and 2000–01. The franchise...
of the NHL
National Hockey League
The National Hockey League is an unincorporated not-for-profit association which operates a major professional ice hockey league of 30 franchised member clubs, of which 7 are currently located in Canada and 23 in the United States...
, Colorado Mammoth
Colorado Mammoth
The Colorado Mammoth are a member of the National Lacrosse League. They have played at Pepsi Center in Denver, Colorado, United States, since the 2003 season....
of the National Lacrosse League
National Lacrosse League
The National Lacrosse League is a men's professional indoor lacrosse league in North America. It currently has nine teams; three in Canada and six in the United States. Unlike other lacrosse leagues which play in the summer, the NLL plays its games in the winter and spring. Each year, the playoff...
and St. Louis Rams
St. Louis Rams
The St. Louis Rams are a professional American football team based in St. Louis, Missouri. They are currently members of the West Division of the National Football Conference in the National Football League . The Rams have won three NFL Championships .The Rams began playing in 1936 in Cleveland,...
of the NFL
National Football League
The National Football League is the highest level of professional American football in the United States, and is considered the top professional American football league in the world. It was formed by eleven teams in 1920 as the American Professional Football Association, with the league changing...
(the Colorado sports properties are in the name of Josh Kroenke, one of his children, to satisfy NFL ownership restrictions that forbid a team owner from owning teams in other markets). He is also the majority shareholder of English
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
football club Arsenal
Arsenal F.C.
Arsenal Football Club is a professional English Premier League football club based in North London. One of the most successful clubs in English football, it has won 13 First Division and Premier League titles and 10 FA Cups...
. He currently lives in Columbia, Missouri. Kroenke was estimated to be worth $US
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
3.2 billion by Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
in 2011.
Real estate
Kroenke obtained a Bachelor of ArtsBachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
, Bachelor of Science
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
and a Masters of Business Administration from the University of Missouri
University of Missouri
The University of Missouri System is a state university system providing centralized administration for four universities, a health care system, an extension program, five research and technology parks, and a publishing press. More than 64,000 students are currently enrolled at its four campuses...
. He founded the Kroenke Group in 1983, a real estate development firm that has constructed numerous shopping centers and apartment buildings. Since his marriage to Walton, he has been in the special position to develop many of the plazas near Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
stores. He is also the chairman of THF Realty
THF Realty
THF Realty is a national investor, developer, manager, and owner of commercial real estate, including shopping centers and office buildings. The company owns properties in almost half of the U.S. states. THF has a continuing relationship with the Wal-Mart Stores, Inc.....
, an independent real estate development company that specializes in suburban development. He founded this corporation in St. Louis in 1991.
Kroenke Sports Enterprises
Kroenke is a well-known sports mogulBusiness magnate
A business magnate, sometimes referred to as a capitalist, czar, mogul, tycoon, baron, oligarch, or industrialist, is an informal term used to refer to an entrepreneur who has reached prominence and derived a notable amount of wealth from a particular industry .-Etymology:The word magnate itself...
. As the head and owner of Kroenke Sports Enterprises, he has owned 40% of the National Football League
National Football League
The National Football League is the highest level of professional American football in the United States, and is considered the top professional American football league in the world. It was formed by eleven teams in 1920 as the American Professional Football Association, with the league changing...
's St. Louis Rams
St. Louis Rams
The St. Louis Rams are a professional American football team based in St. Louis, Missouri. They are currently members of the West Division of the National Football Conference in the National Football League . The Rams have won three NFL Championships .The Rams began playing in 1936 in Cleveland,...
since their relocation to Missouri in 1995. In 2000, he became full owner of both the National Basketball Association
National Basketball Association
The National Basketball Association is the pre-eminent men's professional basketball league in North America. It consists of thirty franchised member clubs, of which twenty-nine are located in the United States and one in Canada...
's Denver Nuggets
Denver Nuggets
The Denver Nuggets are a professional basketball team based in Denver, Colorado. They play in the National Basketball Association . They were founded as the Denver Rockets in 1967 as a charter franchise of the American Basketball Association, and became one of that league's more successful teams...
and the National Hockey League
National Hockey League
The National Hockey League is an unincorporated not-for-profit association which operates a major professional ice hockey league of 30 franchised member clubs, of which 7 are currently located in Canada and 23 in the United States...
's Colorado Avalanche
Colorado Avalanche
The Colorado Avalanche are a professional ice hockey team based in Denver, Colorado, United States. They are members of the Northwest Division of the Western Conference of the National Hockey League . The Avalanche have won the Stanley Cup twice, in 1995–96 and 2000–01. The franchise...
, purchasing the team from Charlie Lyons
Charlie Lyons
Charlie Lyons is a producer and financier of major motion pictures. He is the Managing Partner of and was previously CEO of Beacon Pictures ....
' Ascent Entertainment Group. In 2002, he partnered with American football legend John Elway
John Elway
John Albert Elway, Jr. is a former American football quarterback and currently is the executive vice president of football operations for the Denver Broncos of the National Football League . He played college football at Stanford and his entire professional career with the Denver Broncos...
and Denver Broncos owner Pat Bowlen
Pat Bowlen
Patrick Dennis Bowlen is the Majority Owner, President, and Chief Executive Officer of the Denver Broncos. The Bowlen Family, including his two brothers and sister, purchased the team from Edgar Kaiser in 1984 and saved the team from possible bankruptcy.-Biography:Pat's father, Paul D...
to become owner of the Arena Football League's Colorado Crush
Colorado Crush
Colorado Crush were an Arena Football League team that began play as a 2003 expansion team. The Crush played in the Central Division of the American Conference until the Arena Football League suspended operations in 2009...
. He continued to grow his sports empire in 2004, when he purchased the National Lacrosse League
National Lacrosse League
The National Lacrosse League is a men's professional indoor lacrosse league in North America. It currently has nine teams; three in Canada and six in the United States. Unlike other lacrosse leagues which play in the summer, the NLL plays its games in the winter and spring. Each year, the playoff...
's Colorado Mammoth
Colorado Mammoth
The Colorado Mammoth are a member of the National Lacrosse League. They have played at Pepsi Center in Denver, Colorado, United States, since the 2003 season....
and Major League Soccer
Major League Soccer
Major League Soccer is a professional soccer league based in the United States and sanctioned by the United States Soccer Federation . The league is composed of 19 teams — 16 in the U.S. and 3 in Canada...
's Colorado Rapids
Colorado Rapids
The Colorado Rapids are an American professional soccer club based in the Denver suburb of Commerce City, Colorado which competes in Major League Soccer , the top professional soccer league in the United States and Canada. It is one of the ten charter clubs of MLS, having competed in the league...
from Phil Anschutz.
In 2010, Kroenke exercised his right of first refusal
Right of first refusal
Right of first refusal is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party...
to buy the remaining interest in the St. Louis Rams. On August 25, 2010, he became full owner of the Rams by unanimous consent of the NFL. To gain approval from NFL owners, Kroenke agreed to turn over control of the Denver Nuggets and Colorado Avalanche to his son, Josh, by the end of 2010, and he must give up his majority stake in both teams by December 2014. The NFL does not allow its owners to hold majority control of major league teams in other NFL markets.
Kroenke Sports Enterprise also owns Pepsi Center
Pepsi Center
Pepsi Center is a multi-purpose arena in Denver, Colorado, United States. The building is home to the Denver Nuggets of the National Basketball Association, the Colorado Avalanche of the National Hockey League, and the Colorado Mammoth of the National Lacrosse League...
in Denver, home of the Nuggets and Avalanche, and co-owns Dick's Sporting Goods Park in Commerce City
Commerce City, Colorado
The city of Commerce City is a Home Rule Municipality located in Adams County, Colorado, United States. Commerce City is a northern suburb of Denver and now the 18th most populous municipality in the state of Colorado...
, home of the Rapids. Both venues were built by his development company. In 2004, Kroenke launched his own competitor to FSN Rocky Mountain (now known as Root Sports Rocky Mountain), Altitude
Altitude Sports and Entertainment
Altitude Sports and Entertainment is a regional sports network that serves the Rocky Mountain region, specifically Denver. It officially launched on Sept...
, a new regional sports network
Regional sports network
In the United States of America and Canada, a regional sports network, or RSN, is a cable television station that presents sports programming to a local market. The most important programming on an RSN consists of live broadcasts of professional and college sporting events, as those games generate...
which became the official broadcaster for both of Kroenke's teams on launch. Kroenke also established TicketHorse, a ticket company that provides in-house sales for all of his teams.
Kroenke is a somewhat reclusive man who stays out of the limelight. He is popularly known as "Silent Stan" because he almost never gives interviews to the press. He rarely interferes in his teams' day-to-day operations.
Kroenke is the largest shareholder of Premier League football club Arsenal
Arsenal F.C.
Arsenal Football Club is a professional English Premier League football club based in North London. One of the most successful clubs in English football, it has won 13 First Division and Premier League titles and 10 FA Cups...
. Arsenal already had a technical link-up with Kroenke's Colorado Rapids when in April 2007 Granada Ventures, a subsidiary of ITV plc
ITV plc
ITV plc is a British media company that operates 12 of the 15 regional television broadcasters that make up the ITV Network, the oldest and largest commercial terrestrial television network in the United Kingdom...
, had sold their 9.9% stake in Arsenal Holdings plc to Kroenke's KSE UK inc. Kroenke went on to buy further shares in the club, taking his total stake up to 12.19%. The club's board initially expressed skepticism that a bid would be in its best interests, but gradually warmed to him as part of counteracting Alisher Usmanov
Alisher Usmanov
Alisher Burkhanovich Usmanov is an Uzbek-born Russian businessman.According to the 2011 edition of Forbes magazine, the oligarch is one of Russia's richest men, with a fortune estimated at US$17.7 billion, and the world's 35th richest person.Usmanov is married and is a graduate of Moscow State...
's rival bid for the club.
By June 2008 the board had prepared to let Kroenke take over the club, and on 19 September 2008 it was officially announced that Kroenke had joined the Arsenal board of directors. Kroenke has a beneficial interest in, and controls voting rights over, 18,594 Shares, representing 29.9% of the issued Shares meaning he is nearing the 29.99% threshold, beyond which he would be forced to make an offer for all the remaining shares.
On 10th April 2011, it was reported that Kroenke was in advanced talks to complete the takeover of Arsenal. The following day, it was announced that he increased his shareholding in Arsenal to 62.89% by purchasing the stakes of Danny Fiszman
Danny Fiszman
Daniel David Fiszman was a diamond dealer, best known as a shareholder in and director of Arsenal Football Club, and played a leading role in the club's move from Highbury to Ashburton Grove, now known as Emirates Stadium....
and Lady Nina Bracewell-Smith
Nina Bracewell-Smith
Nina, Lady Bracewell-Smith is an Indian-born, United Kingdom-based businesswoman. She was a major shareholder and former non-executive director of the English Premier League football club Arsenal.-Background:...
, and agreed to make an offer for the rest of the club at £11,750 per share, valuing the club at £731M.
Other businesses
In 2006, Kroenke, in partnership with the money manager Charles Banks, acquired the Napa ValleyNapa County, California
Napa County is a county located north of the San Francisco Bay Area in the U.S. state of California. It is coterminous with the Napa, California, Metropolitan Statistical Area. As of 2010 the population is 136,484. The county seat is Napa....
winery
Winery
A winery is a building or property that produces wine, or a business involved in the production of wine, such as a wine company. Some wine companies own many wineries. Besides wine making equipment, larger wineries may also feature warehouses, bottling lines, laboratories, and large expanses of...
Screaming Eagle
Screaming Eagle Winery and Vineyards
Screaming Eagle Winery and Vineyards is a California wine estate producing limited amounts of varietal wine; due to the small quantities produced and high prices commanded, their wines are considered cult wines...
. (In April 2009, Banks stated he was no longer involved with Screaming Eagle).