$725M ‘American landmark’ finds a buyer | CNN

Waggoner Ranch: $725M ‘American landmark’ finds a buyer

By Matias Grez, for CNN
2 minute read
Updated 2:21 PM EST, Wed February 10, 2016
The Waggoner Ranch in Texas was on the market for $725 million. The final selling price paid by billionaire Sam Kroenke is not known.
The Waggoner Ranch in Texas was on the market for $725 million. The final selling price paid by billionaire Sam Kroenke is not known.
Chris Collis/WTWE
There are more than 100 different properties that cover the estate, which itself is half-a-million acres in size.
There are more than 100 different properties that cover the estate, which itself is half-a-million acres in size.
Chris Collis/WTWE
It is the largest single-fenced ranch in the United States and stretches across six different counties.
It is the largest single-fenced ranch in the United States and stretches across six different counties.
Chris Collis/WTWE
The estate itself has stayed in one family, the Waggoners, for its entire 166-year history.
The estate itself has stayed in one family, the Waggoners, for its entire 166-year history.
Chris Collis/WTWE
Waggoner Ranch is no stranger to horse play of all kinds from reining ...
Waggoner Ranch is no stranger to horse play of all kinds from reining ...
Chris Collis/WTWE
... to polo matches that used to be more of a feature in the early 20th century.
... to polo matches that used to be more of a feature in the early 20th century.
WTWE
The sale is being overseen by Bernard Uechtritz, a Papua New Guinea-born Australia who relocated to Texas.
The sale is being overseen by Bernard Uechtritz, a Papua New Guinea-born Australia who relocated to Texas.
Gustav Schmiege Photography
Waggoner Ranch has a rich history. Among its more illustrious visitors was the former American president Theodore Roosevelt (center).
Waggoner Ranch has a rich history. Among its more illustrious visitors was the former American president Theodore Roosevelt (center).
WTWE
Even the animals are famous. Esteemed shire horse Poco Bueno, the first horse insured for $100,000, worked there and was buried standing fully upright at the behest of the Waggoner family.
Even the animals are famous. Esteemed shire horse Poco Bueno, the first horse insured for $100,000, worked there and was buried standing fully upright at the behest of the Waggoner family.
Chris Collis
Famed Comanche chief Quanah Parker has also been pictured on the ranch.
Famed Comanche chief Quanah Parker has also been pictured on the ranch.
WTWE
A total 25% of the mineral rights will remain in the possession of the current owners.
A total 25% of the mineral rights will remain in the possession of the current owners.
Chris Collis
There are more than 100 properties on the estate.
There are more than 100 properties on the estate.
Chris Collis/WTWE
There is enough water in one lake alone on the property to source the 105,000-strong population of nearby Wichita Falls.
There is enough water in one lake alone on the property to source the 105,000-strong population of nearby Wichita Falls.
Chris Collis/WTWE
Such is the vast expanse of land, a helicopter tour of the property takes an hour and 45 minutes.
Such is the vast expanse of land, a helicopter tour of the property takes an hour and 45 minutes.
Chris Collis/WTWE
From the Waggoner family to part of the Kroenke empire. The billionaire businessman described the property as "a true Texas and American landmark."
From the Waggoner family to part of the Kroenke empire. The billionaire businessman described the property as "a true Texas and American landmark."
Chris Collis
Stan Kroenke buys $725M Texas ranch

Story highlights

Stan Kroenke buys famous Waggoner Ranch

Billionaire first to purchase ranch in 166 years

Vast estate includes 14,000 cows, 500 horses

CNN  — 

It was an opportunity too good to pass up – if you had a spare $725 million, that is.

American businessman Stan Kroenke, owner of NFL team the Los Angeles Rams and a major shareholder in English Premier League soccer club Arsenal, has completed the purchase of the fabled Waggoner Ranch in Texas.

The sale price for the 800-square-mile property near the city of Vernon in Wilbarger County remains a secret but was listed on the market for $725 million, making it one of the most expensive properties in the U.S.

“This is an incredible opportunity and an even greater responsibility,” Kroenke said in a statement.

Stan Kroenke, seen here in 2011, has bought the famous Texas ranch.
Stan Kroenke, seen here in 2011, has bought the famous Texas ranch.
Doug Pensinger/Getty Images

“We are honored to assume ownership of the Waggoner – a true Texas and American landmark.”

The 68-year-old, who is worth an estimated $7.3 billion, becomes the first person to purchase the ranch since it was established by the Waggoner family in 1849.

The property, which boasts 14,000 cows, 500 horses and is thought to be the largest ranch behind one fence, employs 120.

The real estate agent charged with selling the land, Bernard Uechtritz, told CNN in November that, rather than balking at the asking price, there were hundreds of potential suitors who inquired about the property.

“It stands head and shoulders above everything else as it is head and shoulders above everything else,” Uechtritz said.

Russian Prime Minister Vladimir Putin is pictured with a horse during his vacation outside the town of Kyzyl in Southern Siberia on August 3, 2009. AFP PHOTO / RIA-NOVOSTI / ALEXEY DRUZHININ (Photo credit should read ALEXEY DRUZHININ/AFP/Getty Images)
Russian Prime Minister Vladimir Putin is pictured with a horse during his vacation outside the town of Kyzyl in Southern Siberia on August 3, 2009. AFP PHOTO / RIA-NOVOSTI / ALEXEY DRUZHININ (Photo credit should read ALEXEY DRUZHININ/AFP/Getty Images)
AFP/AFP/AFP/Getty Images

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“It’s truly a one of a kind. Where can you go with half-a-million acres under one fence with oil, cattle, natural resources and intellectual property? Nowhere, it’s just not out there.

Uechtritz, who has sold everything from cattle stations in his native Australia to celebrity pads in Beverly Hills, explained that he had turned down a number of eye-watering bids.

“I can tell you it’s not often you can dismiss out of hand an offer for several hundred million dollars – you’re not even getting on the dance floor with several hundred million dollars.”

A quarter of the mineral rights will remain in the possession of the current owners – to date, around 160,000 of the total 560,000 acres have “proven prolific oil properties.”

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