Getty Images
FRISCO, Texas — Any NFL owners who are feeling cash-strapped as the league’s rising salary cap thanks to an 11-year, $110 billion media rights deal that has led to a steadily rising salary cap now have a just-in-case-of-emergency button.
Owners are now allowed to sell a maximum of 10 percent of their NFL teams to a private equity firm that can immediately front the cash. Cowboys owner Jerry Jones, who possesses a net worth of $15.1 billion, according to Forbes, and whose Dallas franchise ranks as the most valuable team in the NFL ($10.1 billion per Forbes), in favor of the approval by the league for its other 31 teams to do so, but that’s an option he himself will not be exploring.
“Well, let me say this, it is something I’m well aware of,” Jones said on Aug. 28. “I haven’t made that area capitalization or the prospects of other ownership relative to the Cowboys. I personally have not made that a high priority for me to attend meetings at all because I don’t intend, and haven’t intended for that to apply with the Cowboys. … I’m not trying to be evasive in any way. But, yes, the correct statement is I’m not looking to do it. I don’t want to foreclose anything as far as the future is concerned, but we have not been in that kind of mind thought.”
Jones then went out of his way to tout the benefits of the newly approved arrangement. Some of the perks could be immediate influx of cash, likely hundreds of millions of dollars, for franchises to put toward practice facility or stadium renovations or even other special projects.
“You’re foolish if you don’t get up every day and really look at how the tea leaves look on any at any given time,” Jones said. …”There’s no doubt that this is going to make us have a…
Source link : https://www.cbssports.com/nfl/news/cowboys-jerry-jones-sees-private-equity-firms-able-to-purchase-nfl-ownership-as-good-wont-sell-shares/
Author : Garrett Podell
Publish date : 2024-09-04 15:54:07
Copyright for syndicated content belongs to the linked Source.
