New England Patriots owner Robert Kraft is the target of the new research published 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 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 keeping interests in Caesars.
Kraft, well worth a predicted $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 % stake in Caesars Entertainment, as well as roles in UK betting house Ladbrokes and casino games maker American Gaming Systems,Deadspinauthor Bart Hubbuch claims Kraft is in violation regarding the NFL’s gambling policy. The League strictly forbids owners from directly purchasing 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 allows for owners to have mino