The NFL knows it needs to revamp the ownership rules. The process won’t begin this week.
Via Ben Fischer of Sports Business Journal, the committee exploring the possibility of allowing private equity funds to invest in NFL teams will not seek a vote on the proposal at this week’s annual meetings. Instead, the target has become the May meetings, if then.
The debate is “complex,” Fischer explains.
The committee met Sunday in Orlando. The members are Falcons owner Arthur Blank, Broncos owner Greg Penner, Browns owner Jimmy Haslam, Patriots owner Robert Kraft, and Chiefs owner Clark Hunt. Per Fischer, Commissioner Roger Goodell originally asked the committee to complete its work in time for the March meetings.
The league is looking for ways to boost team valuations by creating new pathways for partial acquisition. It’s part of the recognition that, as price tags for NFL teams skyrocket, it will become harder and harder to find people who can afford to make the purchase.
Ultimately, the only factor that matters when it comes to buying NFL teams is who has the most money. Football knowledge doesn’t. Commitment to the city where the team is headquartered doesn’t. Likelihood of throwing a drink of fans doesn’t.
