New England Patriots owner Robert Kraft is the target of a investigation that is new to sports news siteDeadspinthat claims the billionaire is in violation of the National Football League’s (NFL) ownership policies due to his investment in a hedge investment.
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 approximated $5.1 billion according toForbes, owns a small stake (by his standards) in Apollo Global Management (AGM). The Kraft Group CEO holds 267,240 shares of AGM, a publicly traded company, currently valued at around $7 million per SEC filings.
Since Apollo currently retains a 30 percent stake in Caesars Entertainment, because well as roles in British betting house Ladbrokes and casino games maker American Gaming Systems,Deadspinauthor Bart Hubbuch states Kraft is in breach of this NFL’s gambling policy. The League strictly forbids owners from directly casinos that are owning 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 may actually be a clear violation regarding the NFL’s gambling policy. While the policy enables f (more…)