Patriots Owner Robert Kraft Becomes Media Target in Casino Stock Ownership Investigation

Patriots Owner Robert Kraft Becomes Media Target in Casino Stock Ownership Investigation

New England Patriots owner Robert Kraft is the target of a new research published 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 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 keeping interests in Caesars.

Kraft, worth a predicted $5.1 billion according toForbes, has a stake that is smallby his criteria) 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, since well as roles in British betting house Ladbrokes and casino games maker American Gaming Systems,Deadspinauthor Bart Hubbuch claims Kraft is in breach of this NFL’s gambling policy. The League strictly prohibits owners from directly possessing 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 clear violation for the NFL’s gambling policy. While the policy permits for owners to have minor investme Continue reading Patriots Owner Robert Kraft Becomes Media Target in Casino Stock Ownership Investigation