1. The $6 Billion Bargain.
- Author
-
Ahuja, Maneet and Tucker, Hank
- Subjects
LAW offices ,FINANCIAL crises ,SPORTS spectators ,FOOTBALL teams ,INVESTORS ,PRIVATE equity funds - Abstract
This article discusses the recent purchase of the Washington Commanders NFL team by billionaire Josh Harris for a record-breaking $6 billion. Harris, along with a group of investors, acquired the team in 2023 and has made changes to the coaching staff and roster. The NFL's decision to allow private equity firms to buy up to 10% of each team has attracted interest from firms like Blackstone and Carlyle. Harris, who also owns other sports teams, sees owning an NFL team as a dream come true and a way to create positive experiences for fans. The article highlights the financial success and stability of NFL team ownership, thanks to revenue sharing and TV deals, and suggests that private equity firms may become more involved in team ownership in the future. It concludes by emphasizing the financial growth and value of NFL teams compared to other investments. [Extracted from the article]
- Published
- 2024