Rams Owner on Kroenke's Bid to Purchase Team

St. Louis Rams owner Chip Rosenbloom issued the following statement regarding minority owner Stan Kroenke's exercising the "Right of First Refusal" and planning to purchase the remaining 60% of the NFL franchise.

"Today we received notice that Stan Kroenke has exercised his right of first refusal under the St. Louis Rams Partnership Agreement to purchase the Rosenbloom family's controlling interest in the team," Rosenbloom said.

"We and our advisors will work with the National Football League as we move forward with the objective of completing a transaction for the sale of our interest in the Rams."

According to NFL.com, Kroenke issued the following statement on Monday evening.

"We have enjoyed our involvement in the National Football League since our original expansion efforts beginning in 1993 and our subsequent 15-year partnership with the Rams. We look forward to working with the Rosenbloom family and the NFL. We will respect the league and its processes in our efforts to complete this transaction."

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