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Off topic: Screw Stan Kroenke


Bonner89
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I have one question about the settlement reached. Did the $790 M figure include the legal costs incurred or not? Does anyone know? As far as I know Kroenke had an agreement to pay the legal costs for this suit or series of suits. If the settlement reached includes legal costs, the amount available for distribution to the plaintiffs may be a lot lower. I agree the big loser in this settlement is probably Kroenke. The big winner may be the plaintiff lawyer group.

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41 minutes ago, Old guy said:

I have one question about the settlement reached. Did the $790 M figure include the legal costs incurred or not? Does anyone know? As far as I know Kroenke had an agreement to pay the legal costs for this suit or series of suits. If the settlement reached includes legal costs, the amount available for distribution to the plaintiffs may be a lot lower. I agree the big loser in this settlement is probably Kroenke. The big winner may be the plaintiff lawyer group.

It included legal cost.  The lawyers get 35% of the settlement.

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Thank you Brianstl. The lawyer group gets $276.5M, the plaintiffs get $513.5. Now, if the plaintiff groups start bickering about who gets more and who gets less instead of splitting it equally, we have the possibility that the payoff balance (after legal fees) will be going into escrow while the suits of the plaintiffs against one another take place and develop.

If Kroenke paid for the legal fees that is $276.5 out of his assets, and since he still owns the Rams, I assume he will be paying the greater portion of the rest of the settlement as well. I think he can afford this.

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2 hours ago, Old guy said:

Thank you Brianstl. The lawyer group gets $276.5M, the plaintiffs get $513.5. Now, if the plaintiff groups start bickering about who gets more and who gets less instead of splitting it equally, we have the possibility that the payoff balance (after legal fees) will be going into escrow while the suits of the plaintiffs against one another take place and develop.

If Kroenke paid for the legal fees that is $276.5 out of his assets, and since he still owns the Rams, I assume he will be paying the greater portion of the rest of the settlement as well. I think he can afford this.

I would be shocked if the payout to each party was determined = % wise - when the suit was filed.  

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1 hour ago, cheeseman said:

I would be shocked if the payout to each party was determined = % wise - when the suit was filed.  

OK, that is fine. Kindly reply how are the payments for large legal fees like the ones incurred in this case are determined? Is it done like military procurement in a cost plus profit basis? Can you shed some light here.

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8 hours ago, Old guy said:

OK, that is fine. Kindly reply how are the payments for large legal fees like the ones incurred in this case are determined? Is it done like military procurement in a cost plus profit basis? Can you shed some light here.

First of all I am not sure what you are asking - all I said was I would be shocked if how the money wasn't already determined how it would be divided.  According to the Post, apparently I am shocked - City and County apparently has not decided how to divide the money up which then leads me to believe the Convention Group was not mentioned so maybe they know what they are going to get.

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16 hours ago, Old guy said:

I have one question about the settlement reached. Did the $790 M figure include the legal costs incurred or not? Does anyone know? As far as I know Kroenke had an agreement to pay the legal costs for this suit or series of suits. If the settlement reached includes legal costs, the amount available for distribution to the plaintiffs may be a lot lower. I agree the big loser in this settlement is probably Kroenke. The big winner may be the plaintiff lawyer group.

Since Kroenke is reportedly worth $11 billion, and his wife an additional $9 billion, I think they will be able to afford the $790 million.

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11 hours ago, billikenbill said:

Why do we pass up 2 footers for 22 footers?

 

19 minutes ago, CenHudDude said:

Since Kroenke is reportedly worth $11 billion, and his wife an additional $9 billion, I think they will be able to afford the $790 million.

I don’t care how much he’s worth I doubt he has $790 million that is liquid. 

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2 minutes ago, willie said:

 

I don’t care how much he’s worth I doubt he has $790 million that is liquid. 

I am not sure why people always bring this up. People who are worth that kind of money can always get cold hard cash by leveraging non-liquid assets.

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11 minutes ago, willie said:

 

I don’t care how much he’s worth I doubt he has $790 million that is liquid. 

No one with that kind of money keeps $790 M liquid. He has to borrow or sell assets to cover his part of the settlement. Maybe this is not a significant amount to him, but at least it is going to force him to do something he would rather not do.

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38 minutes ago, CenHudDude said:

Since Kroenke is reportedly worth $11 billion, and his wife an additional $9 billion, I think they will be able to afford the $790 million.

No amount of fine was going to hurt him financially. 
Kronke is a greedy bastard and signing that check is going to hurt because it’s a loss and people like him don’t like to lose. 

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14 minutes ago, dlarry said:

No amount of fine was going to hurt him financially. 
Kronke is a greedy bastard and signing that check is going to hurt because it’s a loss and people like him don’t like to lose. 

You are correct - what does a multi billion guy want, another billion.  They are not use to not making money and so it hurts them in ways most of us will never realize.

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On 11/24/2021 at 7:08 PM, Old guy said:

Thank you Brianstl. The lawyer group gets $276.5M, the plaintiffs get $513.5. Now, if the plaintiff groups start bickering about who gets more and who gets less instead of splitting it equally, we have the possibility that the payoff balance (after legal fees) will be going into escrow while the suits of the plaintiffs against one another take place and develop.

If Kroenke paid for the legal fees that is $276.5 out of his assets, and since he still owns the Rams, I assume he will be paying the greater portion of the rest of the settlement as well. I think he can afford this.

Kroenke agreed to pay the NFL's legal fees, not St. Louis's legal fees.

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