(CNN) -- American billionaire Stan Kroenke became the majority owner of National Football League (NFL) side the St. Louis Rams on Wednesday after his takeover was approved by the division's organizers.
Kroenke was announced as the side's seventh owner in their 73-year history, on the team's official website, after a vote of league owners held in Atlanta had approved the move.
"Stan has been a familiar and respected figure in the National Football League for more than 15 years," NFL Commissioner Roger Goodell told the website.
"He is a proven businessman and has experienced success in all of his sports franchises, as well as serving as a responsible community leader. We look forward to him continuing to uphold the goals and values of the NFL as he becomes the majority owner of the St. Louis Rams."
Kroenke had previously been a minority owner of the side, and played a key role in the construction of the team's home arena of Rams Park.
"We are delighted with today's vote by NFL owners. It is one of the very high points of our long association with the NFL," Kroenke told the St. Louis Rams website.
Kroenke adds the Rams to his current portfolio of American sport franchises that includes the Colorado Avalanche (NHL), Denver Nuggets (NBA), the Colorado Rapids (MLS) and the Colorado Mammoth (NLL).
As well as being the only person to have a controlling stake in three major American sport franchises, he is also the largest shareholder of English Premier League soccer side Arsenal.
Kroenke owns 29.9 percent of the North London club and sits just ten shares short of the 30 percent threshold needed to force a takeover under British law.