New England Patriots owner Robert Kraft could be the target of the new investigation published to sports news siteDeadspinthat claims the billionaire is in violation for the 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, well worth an estimated $5.1 billion according toForbes, owns a small stake (by his requirements) in Apollo Global Management (AGM). Per SEC filings, the Kraft Group CEO holds 267,240 shares of AGM, a publicly traded business, currently valued at around $7 million.
Since Apollo currently retains a 30 % stake in Caesars Entertainment, because well as roles in UK betting house Ladbrokes and casino games maker American Gaming Systems,Deadspinauthor Bart Hubbuch states Kraft is in breach regarding the NFL’s gambling policy. The League strictly prohibits owners from directly getting casinos or gaming businesses.
On the Apollo internet site, the hedge fund says Kraft has been a director of its business since 2014. The billionaire is listed alongside nine other directors and officers that are executive.
‘Holding that position would may actually be a violation that is clear of NFL’s gambling policy. While the policy enabl Read more “Patriots Owner Robert Kraft Becomes Media Target in Casino Stock Ownership Investigation”