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

New England Patriots owner Robert Kraft could be the target of a new research published 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 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 holding interests in Caesars.

Kraft, well worth an estimated $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 presently retains a 30 % stake in Caesars Entertainment, since well as positions in UK house that is betting and casino games manufacturer American Gaming Systems,Deadspinauthor Bart Hubbuch states Kraft is in breach associated with 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 executive officers.

‘Holding that position would seem to be a violation that is clear of NFL’s gambling policy. While the policy permits for owners to Continue reading