Jeff Duncan: White Fans can learn a lot from the sale of Denver Broncos | Jeff Duncan
Having an NFL team is a good job if you can get it.
On Tuesday, the estate of former Denver Broncos owner Pat Bowlen agreed to sell the club to the Walton-Penner owners’ group for $ 4.65 billion.
Bowlen bought the club for $ 78 million in 1984. Nearly 40 years later, his heirs sold it for nearly 60 times.
Once the owners of the NFL and the league’s financial committee are sealed with rubber, the sale will be the most valuable club in North American football history, surpassing $ 3.3 billion in sales to the NBA’s Brooklyn Nets in 2019 and $ 2.3 billion in sales to the Carolina Panthers in 2018..
This alliance is an example for anyone who might be interested in how the sales of Saints are declining.
Gayle Benson, 75, is in good health and has no plans to sell Saints or Pelicans anytime soon. But we know from a follow-up plan that took place last fall that Benson would have to sell the units because they have no heirs. The Saints were named by CBS Sports as one of five NFL teams expected to be sold later.
Permission for Saints has risen by almost 11% annually over the past decade, according to Forbes, and currently stands at $ 2.85 billion. If Benson retains the team for ten years, then the club could charge $ 6 billion in a trade ring, considering the rise of NFL teams. Benson’s plan to use the proceeds from the sale of these teams to fund local organizations will be a problem for billions of people in New Orleans.
The sale of Saints should be simpler than it was in Denver, where the lack of a system of order led to family disputes and many cases of misconduct.
The league rushed to close the deal when the Broncos were sold in Feb. 1. The League took less than five months to ensure that those who want to be the last four do a commercial auction.
Denver’s best performers, a team led by Walmart successor Rob Walton, disrupted the competition with their big chance. Some of the finalists will be about to take part sometime when the NFL team is sold out.
There are too many people in this country rich enough to buy an NFL team, and league officials keep a regular list of those who have been tested, who are expected to own it. Under the rules of the league, most owners must have a 30% stake in the team and be able to borrow $ 1 billion to sell, which eliminates many interested buyers.
The only Louisian rich man to have an NFL team right now is Benson. As a result, like the Broncos and the Panthers, the next owner of the Saints will be almost out of town. And it could come from a list of losers who sold in the Broncos market.
With that in mind, you may want to list these names as they may be on the list of those who want to become Saints when the day comes.
• Josh Harris, co-founder of Apollo Global Management and co-owner of the Philadelphia 76ers and New Jersey Devils. Harris owns a 5% stake in the Pittsburgh Steelers.
• Jose Feliciano and Behdad Eghbal, founders of Clearlake Capital Group.
• Todd Boehly, co-founder and CEO of Eldridge Industries, who recently led the club with Clearlake Capital who bought Chelsea of the English Premier League. Boehly also owns shares in the Los Angeles Dodgers, Lakers and Sparks.
• Mat Ishbia, a former Michigan State basketball player who now runs the Pontiac, Mich.-based mortgage giant United Wholesale Mortgage Holdings Corp.
As we discuss the Saints’ succession plan last month, team president Dennis Lauscha said he was already compiling a list of buyers. Note that, the above will exist. And you can expect more elected members in the coming years.
There are only 32 NFL teams, and they are rarely available. There will be no shortage of interested buyers for the Saints when that day arrives.
As Benson has wisely said for years, the Saints own, in effect, are the stewards of the city and state corporation. And government officials, led by Gov. John Bel Edward, has worked hard to ensure that the Saints do not leave New Orleans – no matter who the team is.