The deal requires Kroenke to get rid of his shares of the Denver Nuggets and Avalanche.
Kroenke already owned 40% of the Rams but has come to an agreement to buy the remaining 60% from the Rosenbloom family for $750 million.
The NFL has rules that prohibit majority owners from owning major sport franchises in other cities. Kroenke plans to turn finacial control of the Nuggets and Avalanche over to his son, Josh, but the end of the year. He must give up his majority stake in the teams by December 2014.
Kroenke, a 63-year-old Missouri billionaire, first became involved with bringing pro football back to St. Louis in 1993 with a failed attempt to land an expansion franchise. When the Rams moved from Los Angeles two years later, he joined the Rosenbloom family as a minority owner, increasing his stake to 40 percent in 1997.
Tags: Football, NFL, St. Louis Rams