Kroenke owes St. Louis the balance of what was a $790 million settlement for moving the team to Los Angeles.
The NFL collectively contributed $219 million, leaving Kroenke to pay the rest only after owners waive the limit in place on allowable debt for owners.
The final approval is expected at the NFL owners' quarterly meeting Tuesday in New York.
A settlement was first reached last year, more than four years after the lawsuit originated. The NFL pushed for the agreement in part due to a decision from the judge ruling financial information and records of all NFL owners could be included.