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

New England Patriots owner Robert Kraft is the target of the new investigation published to sports news siteDeadspinthat claims the billionaire is in violation for 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 a predicted $5.1 billion according toForbes, owns a stake that is smallby his requirements) 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, as well as roles in British betting house Ladbrokes and casino games manufacturer American Gaming Systems,Deadspinauthor Bart Hubbuch claims Kraft is in violation regarding the 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 allows for