New England Patriots owner Robert Kraft is the target of a new investigation posted to sports news siteDeadspinthat claims the billionaire is in violation regarding 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 keeping interests in Caesars.
Kraft, worth a predicted $5.1 billion according toForbes, has a small stake (by his standards) in Apollo Global Management (AGM). Per SEC filings, the Kraft Group CEO holds 267,240 shares of AGM, a publicly exchanged company, currently valued at around $7 million.
Since Apollo presently retains a 30 % stake in Caesars Entertainment, because well as jobs in UK betting house Ladbrokes and casino games manufacturer American Gaming Systems,Deadspinauthor Bart Hubbuch says Kraft is in breach associated with the NFL’s gambling policy. The League strictly forbids owners from directly having 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 appear to be a violation that is clear of NFL’s gambling policy. While the policy allows for owne