Major League Soccer

Denver sports magnate near acquiring rights to Rapids.

By Robert Wagman
SoccerTimes

(Tuesday, August 5, 2003) -- Major League Soccer seems on the verge of announcing a big catch. Wealthy real estate and sports entrepreneur E. Stanley Kroenke has reportedly come to terms to become an MLS investor and assume operation of the Colorado Rapids.

According to press reports, Kroenke is looking at building a soccer-specific stadium near Denver's Pepsi Center, probably within five years. In the meantime the team would continue to play at INVESCO Field at Mile High.

By acquiring the Rapids from Philip Anschutz's Anschutz Entertainment Group - Anschutz is also from Denver and AEG is owner-operator of six MLS franchises - Kroenke Sports Enterprises also would better its chances of developing its own sports television network. KSE president Don Elliman told the Rocky Mountain News in March he has interest in exploring a possible TV network.

In 2000, KSE bought the National Hockey League's Colorado Avalanche, the National Basketball Association's Denver Nuggets, as well as both team's home, the Pepsi Center, for $450 million. KSE is also the primary minority owner of the National Football League's St. Louis Rams, and Kroenke has multiple other business interests in St. Louis.

KSE also started and co-owns the Colorado Crush of the Arena Football League and the Colorado Mammoth of the new indoor National Lacrosse League.

KSE and Fox Sports Net Rocky Mountain currently have a contract, due to expire at the end of the 2003-04 season, in which FSNRM produces and airs the television broadcasts for the Avalanche and Nuggets.

At the league's All-Star Game this weekend, MLS commissioner Don Garber indicated that he hopes to announce two new major investors in existing teams before long. These would not include Jorge Vergara, the owner of Mexican League's Chivas of Guadalajara, and the likely operator of an MLS expansion team.

Kroenke would be one of the new investors, and reportedly AEG is in discussions with another about acquiring the operating right to the San Jose Earthquakes, which AEG reluctantly acquired when Silicon Valley Sports & Entertainment backed out before this season.

Stan Kroenke, as he is known, is chairman of THF Realty, a developer and owner of commercial real estate including numerous shopping centers, office buildings and industrial projects around the United States. He is married to Ann Walton, niece of the late Sam Walton, who founded Wal-Mart. He is involved in constructing many of the shopping centers where Wal-Mart stores are located. Recently, he bought Canada's largest cattle ranch, the 514,000-acre Douglas Lake Ranch in British Columbia, from MCI, for an estimated $68.5 million.

He is on Forbes' list of the world's richest people in 2003, ranking No. 303 with an estimated net worth of $1.4 billion.

Senior correspondent Robert Wagman can be e-mailed at bobwagman@soccertimes.com.