Stan and Josh Kroenke Announce Creation of COVID Relief Fund
On behalf of our family and Kroenke Sports & Entertainment, we would like to personally thank each and every one of you for your continued dedication and commitment to the organization in the most difficult of times. No individual or business has been unscathed during this pandemic. We've all been impacted deeply - professionally and personally. However, the collective spirit and resiliency of our colleagues has been overwhelming and awe-inspiring.
Employees are working hard every day. Employees are offering support and encouragement to their colleagues - some of whom have even lost loved ones. Employees are volunteering to assist not only those in dire need but also the courageous and selfless frontline workers. No words will ever do justice to the pride and gratitude our family has for your service to the company as you also continue to do all you can to help "flatten the curve."
KSE, Kroenke Sports Charities, and the Kroenke Family Foundation have responded in many ways to assist in crisis-relief efforts, including working with several of our business partners and numerous government and non-profit agencies to help tens of thousands of people affected by COVID-19. While supporting these efforts is an obligation and a privilege, our No. 1 priority remains the well-being of our employees - part-time and full-time. We announced last month that KSE would pay its variable and hourly employees through the end of the regular season once professional leagues announced the suspension of their seasons. Since then we have worked closely with many of these employees to help them better understand the CARES Act and benefits for which they are eligible.
In an effort to further assist these employees, and after speaking with several members of our amazing network of KSE teams, we are pleased to announce that we have established a KSE COVID-19 Relief Fund. We are also proud to announce that the Kroenke Family Foundation will be leading with the first donation into the Fund in the amount of $500,000. Based on comments from our incredible players, coaches, and executive staff, we fully expect the Fund to grow to $1,000,000 in the very near future.
It is our deepest hope that this fund will help provide basic necessities and essentials to those struggling the most financially. We have formed a committee to review and respond to all requests. The only requirement is for those in need to complete a short application to determine eligibility criteria. Any financial assistance an employee receives will not be taxed. Eligible employees will be provided an application in a separate correspondence.
As for our full-time employees, we thank you for continuing to adapt and meet the challenge during this unsettling period. Please continue to work remotely and abide by local stay-at-home mandates. While tough decisions lie ahead for all businesses worldwide, we will continue to do everything in our power to support the well-being of our entire staff.
For employees wishing to contribute to the KSE COVID-19 Relief Fund, you can make a tax-deductible donation to Kroenke Sports Charities. Please contact Deb Dowling for further information ([email protected]).
We would like to give a special thanks to KSE executives and members of our sports organizations from players to coaches to front office executives who have asked how they can contribute. In these uncertain times, giving back and supporting the well-being of our families, communities, and ourselves is more important than ever. We could not be prouder of how our company and employees have come together to provide relief and support to the many in need.
Stan and Josh
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