It became official yesterday that Jack Kent Cooke of Los Angeles will retain control of the Washington Redskins.
Cooke announced plans to sell the Forum (arena) he built in Inglewood, Calif., the Los Angeles Lakers and Los Angeles Kings to real estate developer Jerry Buss of that city, but keep his 83.3 percent of the Redskins' stock.
Cooke, team vice president, owns 300 shares; Edward Bennett Williams president, owns the other 50.
Cooke's transaction is believed to be the largest ever in sports at an estimated $57 million cost to Buss, 46, a chemical engineer before making a fortune in Los Angeles real estate holdings. He previously owned interests in the Los Angeles Strings and franchises in San Diego, Anaheim and Indiana in the defunct World Team Tennis organization.
Earlier this year he sought to buy the Indiana Pacers of the NBA.
Cooke, 66, recently settled a $100 million divorce suit, with his ex-wife receiving half. Included in his sale to Buss is a 13,000-acre California ranch.
Cooke's secretary said of a report that he is considering the purchase of a horse farm in Virginia, "I don't think so, but I don't know." Cooke was unreasonable to comment on that report.
He built the Forachable to comment on that report.
He built the Forr the owner of the Washington Senators baseball team, for $5 million in 1967, and paid $2 million for the Kings, an expansion franchise in the NHL. the same year.
The NFL has a policy against club owners having interests in other professional team sports.
The NFL tried to step up enforcement of the policy last year but the North American Soccer League obtained an injuction in October so that NFL owners who had interests in soccer teams would not have to sell them, pending the outcome of the suit.
Joe Robbie, is owner of the NFL Miami Dolphins and his wife has an interest in the NASL Fort Lauderdale Strikers. Lamar Hunt, owner of the Nfl Kansas City Chiefs, owns an interest in the NASL Dallas Tornado. Edward J. DeBartolo Jr., owner of the NFL San Francisco 49ers, has an interest in the NFL Pittsburgh Penguins.
Bill Bidwill, owner of the NFL St. Louis Cardinals, has stock in the NBA Chicago Bulls. Herman Sarkowsky, managing general partner of the NFL Seattle Seahawks, has an interest in the NBA Portland Trail Blazers.
The nfl will discuss those holdings in two days of meetings starting Tuesday in New York City.