YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The National Football League is considering changes to its ownership rules.
The reason: Teams are becoming too expensive to purchase, even for billionaires.
Last year's $2.3 billion sale of the Carolina Panthers, for example, only drew a handful of bidders.
NFL rules require the principal owner to put up at least 30% of the purchase price in cash. Additionally, each team has a $350 million debt limit. According to Bloomberg, a buyer would have to pay at least $600 million initially to purchase a team at current valuations. Then comes the difficult process of finding investors to spend tens or hundreds of millions of dollars on noncontrolling stakes in a team.
Read more from Bloomberg.
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