Los Angeles Rams Owner, Stan Kroenke, Threatens To Settle Relocation Suit Separately From NFL
“The fight between Rams Owner Stan Kroenke and the rest of the NFL owners over the high-stakes St. Louis litigation has escalated, with Kroenke threatening to settle separately and leave the NFL on its own in a January trial unless there is a promise to spread the liability. In an email sent to league officials, other owners and their lawyers yesterday, Kroenke’s reps said they want to settle the case, and they believe they can for $500-750M. Mediation is set for Tuesday, which they say is likely their last chance to avoid a damaging public trial that is set to start in January. But, the email continues, they cannot take the risk that those costs won’t be shared in some way. They also said they can’t risk a trial that would lead to a mega-verdict against all teams and the league, which NFL lawyers argue would be indemnified by the Rams. “If we continue to not get any assurances from the league regarding allocation (of damages), we will have no choice but to try to resolve the case on behalf of only the Rams and Mr. Kroenke,” the email reads. “We do not want to do that. We want everyone’s participation — or some assurance from the league that a settlement will be allocated fairly. But we have not gotten that assurance to date, nor any suggestion that the league will try to settle the case and address allocation later.””
Sports Business Journal has more here.