Rush Limbaugh and Dave Checketts to buy the St Louis Rams
October 14th, 2009 - 6:10 pm ICT by Aishwarya Bhatt
St. Louis, Oct 14 (THAINDIAN NEWS) The talk-radio king Rush Limbaugh announced that he has made a bid to buy the St. Louis Rams in partnership with St. Louis Blues owner Dave Checketts.
It is still fuzzy whether he buys to buy it out-right or just wants a stake in it. According to the LA Times, “It’s unclear whether Limbaugh and Checketts will buy the team outright or purchase a majority or minority stake in the franchise. Georgia Frontiere’s children own a 60% stake in the team, and billionaire Stan Kroenke owns a 40% stake.”
Last year Forbes revalued the St Louis Rams, as worth $929 million (23rd highest in the NFL).
Limbaugh also declined to discuss other partners that might be involved in the bid, but said he and Checketts would operate the team.
In a statement, Limbaugh declined to discuss details, citing a confidentiality agreement with Goldman Sachs, the investment firm hired by the family of former Rams owner Georgia Frontiere to review assets of her estate, including the NFL team.
“Dave Checketts and I have made a bid to buy the Rams and we are continuing the process,” Limbaugh said.
“Our strategic review of our ownership of the Rams continues,” Rosenbloom said in a statement released late Monday. “We will make an announcement upon the completion of the process.” Rosenbloom own a 60% stake in the Rams.
Dave Checketts first approached the 60% stakeholder Rosenbloom in early 2009 about a possibility of buying the Rams. Eric Gelfand, a spokesman for Checketts, said in June that Checketts had put together a group consisting of local and outside investors.
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Tags: assets, billionaire, confidentiality agreement, dave checketts, forbes, franchise, georgia frontiere, goldman sachs, investment firm, la times, minority stake, nfl team, radio king, rush limbaugh, spokesman, st louis blues, st louis rams, stakeholder, stan kroenke, talk radio