Historic Texas Ranch Sold!

Historic Texas Ranch Sold!

Historic Texas Ranch Sold!

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Married to Ann Walton, daughter of Walmart co-founder Bud Walton, Stan Kroenke just purchased the historic Waggoner Ranch in Texas. Owner of the NFL franchise Los Angeles Rams (until recently the Saint Louis Rams), Kroenke is adding the ranch to his collection of four other large cattle ranches in Montana, Wyoming, Arizona and Canada. With his new purchase, Kroenke will control 1.374 million acres of farm/grazing land and the natural resources.

Second only to the King Ranch in size, but the largest ranch to be held by one family behind one fence since its inception in 1849, the famed 510,527-acre Waggoner Ranch in northern Texas is now passing to its second owner, closing an important chapter of Texas history. A vast and diverse ranching operation running thousands of cattle, hundreds of horses, almost 30,000 acres of farmland under cultivation with thousands more suitable, 1,200 producing oil wells, a nationally known horse program and recreation opportunities from wildlife and large lakes, it’s the most significant ranch property to come on the U.S. real estate market in years. Included in the sale is 42 percent of the entire mineral estate, all permanent improvements including rolling stock such as large machinery and vehicles, ranch equipment, oilfield equipment, cattle inventory, horse inventory, horse facilities, brands, intellectual property and the Waggoner Office Building in nearby Vernon, Texas.

Kroenke has come under criticism from many football fans for moving his St Louis Rams to Los Angeles. Although the Waggoner Ranch asking price was $725 million, Kroenke says he got a great deal paying $360 million.

Source: www.toptenrealestatedeals.com