New England Patriots owner Robert Kraft may be the target of a new research posted to sports news siteDeadspinthat claims the billionaire is in violation of this National Football League’s (NFL) ownership policies due to his investment in a hedge fund.
New England Patriots owner Robert Kraft (seen here with President Donald Trump at an NFL game in 2012) is being accused by one reporter of violating the league’s ownership policy for holding interests in Caesars.
Kraft, worth an approximated $5.1 billion according toForbes, owns a stake that is smallby his standards) in Apollo Global Management (AGM). Per SEC filings, the Kraft Group CEO holds 267,240 shares of AGM, a publicly traded company, currently valued at around $7 million.
Since Apollo presently keeps a 30 percent stake in Caesars Entertainment, since well as roles in UK betting house Ladbrokes and casino games maker American Gaming Systems,Deadspinauthor Bart Hubbuch says Kraft is in violation of this NFL’s gambling policy. The League strictly prohibits owners from directly getting casinos or gaming businesses.
The hedge fund says Kraft has been a director of its company since 2014 on the Apollo website. The billionaire is listed alongside nine other directors and officers that are executive.
‘Holding that position would seem to be a violation that is clear of NFL’s gambling policy. While the policy permits for owners to have minor Continue reading “Patriots Owner Robert Kraft Becomes Media Target in Casino Stock Ownership Investigation”