Quote:
Originally Posted by irish
Not all the owners are cleaning up. A lot of the owners are raking in cash but their expenses (cost of buying a team they couldnt afford, their part of the stadium bond, etc.) are huge and their expenses are as much as they take in. Some teams like Pgh are not big revenue generators but their expenses are low. I think a lot of what we see NFL owners doing is smoke & mirrors.
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I do not think you need to feel sorry for the NFL owners. Even if their team is in one of the few markets that is not making huge money, the value of the teams and property grows daily.
Here is an example of an NFL owner that did not have enough cash flow as you talk about
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Norman Braman in 1985 purchased the very talented Philadelphia Eagles football team for $65 million, borrowing most of the $65 million.
Braman kept the team for 9 years , he was cash poor so he invested very little money in the team, but managed to pay himself a salary of $6 million a year from team money.
In just nine short years later (1994) Braman sold the team to Jeffrey Lurie for $184 million. So Braman paid himself $54 million in salary those nine years, invested very little of his own money to upgrade the team and still managed to make an additional $119 million on the sale of the Eagles.
So now Jeffrey Lurie who bought the Eagles in 1994 for $184 million, can now sell the team for at least $883 million, which is what is currently worth/valued recently.
I do not think you need to feel sorry for the owners.