Billionaire Stan Kroenke actually bought this $725M ranch in Texas

We have an idea where the LA Rams’ offsite training is going to take place this year! Billionaire Stan Kroenke — better known owner of said football team — has just plunked down a massive amount of money to buy the 510,000-acre W.T. Waggoner Ranch in Texas, Forbes reports. It was last listed for $725 million. 

Though the exact purchase price of the property was not disclosed, the marketing manager on the property told Forbes “I think you can assume it was close enough to make both sides very happy.” Anyone would be happy with an extra $725 million!

If the price is even $500 million dollars off the asking price, it would still exceed the priciest ranch ever sold in America to date, which was the Trinchera Ranch in Colorado, which Louis Bacon bought in 2007 for $175 million.

The reason for Waggoner ranch’s extraordinary asking price is pretty simple — it comes with a lotta oil. And if that’s not enough, the property also has 30,000 acres of workable farmland, 7,500 head of cattle, and, because this is Texas, 20 cowboy ranches. The land has been owned by the same family (the Waggoners) since 1849.