Arsenal owner Stan Kroenke is facing up to a huge payout worth $571million because NFL owners are finally expected to approve a resolution over the Los Angeles Rams’ relocation from St. Louis to Los Angeles.
And that could have an adverse effect on Arsenal’s transfer plans moving forward. The Gunners have splashed out more than £150million in each of the last two summer transfer windows, handing Mikel Arteta a squad worthy of challenging at the top of the Premier League table.
The Gunners are top of the pile after ten games of the season, losing just once, leading Manchester City and Tottenham by four points. Signings like Gabriel Jesus, Oleksandr Zinchenko, Martin Odegaard, Thomas Partey, Aaron Ramsdale, Ben White, William Saliba and Gabriel Magalhaes have all played crucial roles in that early success.
But the increased spending at the Emirates Stadium could become a thing of the past after Kroenke was handed with a massive bill by NFL owners. Kroenke also owns the LA Rams, who won the Super Bowl earlier this year and it is what happened with the relocation of that team that has caused issues.
The Rams relocated to California in 2016, having spent over two decades in Missouri. As part of the relocation process, the city of St. Louis filed a lawsuit against both the league and the Kroenke family, claiming it cost millions of dollars in amusement, ticket and earning tax revenues.
That four-and-a-half-year suit was settled in 2021 at a huge cost of $790million. The make-up of the payment has remained contentious between all 32 owners in the NFL. It is understood that $219million was made up from the remaining franchises – with ESPN reporting that the rest will come from Kroenke Sports & Entertainment themselves.
The NFL owners met in New York on Tuesday, where the league will waive the limit on allowable debt in order for Kroenke to make the payment.
Kroenke Sports & Entertainment boast an impressive portfolio of sports teams. On top of owning Arsenal and the Rams, they are the holding company of the Denver Nuggets, Colorado Rapids and Colorado Avalanche.