McCombs Hits The Jackpot
After three years of trying, it appears Red McCombs will finally get rid of the Vikings. His frustration at the unwillingness of Minnesota to build him a stadium pushed him off the edge and McCombes decided he wanted nothing to do with the purple. He would sneak by, paying his players and coaches as little as possible, until someone stepped up and offered his asking price for the organization. Now someone has, and McCombs will be free of it. He'll also be a lot wealthier.
Reggie Fowler, an Arizona businessman who spent a short time playing for the Cincinnati Bengals, will be the new Vikings owner. Fowler will become the first black owner in NFL history, increasing the Vikings tendency toward diversity. In the past seven years, we have had a black coach, two black starting quarterbacks and now the first black owner. But the transaction won't come cheap for Fowler.
The price tag on the Vikings is listed around $625 million. Last fall the franchise was estimated to be worth $604 million. Evidently Red McCombs didn't become rich by accident. He just made $375 million in seven years. And that's just in appreciation.
In the end, everyone gets what they want. Red gets a ton of money. The Vikings get rid of an absentee owner who wouldn't put his profits back into the organization. Fowler gets a shot at owning a successful NFL franchise. Everyone walks away with a smile. No one more so than a certain Texas businessman, who we'll likely never hear from again.
Reggie Fowler, an Arizona businessman who spent a short time playing for the Cincinnati Bengals, will be the new Vikings owner. Fowler will become the first black owner in NFL history, increasing the Vikings tendency toward diversity. In the past seven years, we have had a black coach, two black starting quarterbacks and now the first black owner. But the transaction won't come cheap for Fowler.
The price tag on the Vikings is listed around $625 million. Last fall the franchise was estimated to be worth $604 million. Evidently Red McCombs didn't become rich by accident. He just made $375 million in seven years. And that's just in appreciation.
In the end, everyone gets what they want. Red gets a ton of money. The Vikings get rid of an absentee owner who wouldn't put his profits back into the organization. Fowler gets a shot at owning a successful NFL franchise. Everyone walks away with a smile. No one more so than a certain Texas businessman, who we'll likely never hear from again.
posted by Joe Siple | 3:38 PM
2 Comments:
You are assuming that he gets approved by the NFL owners. Glen Taylor is going to end up with this team. Fowler is not stepping up and divulging any info regarding his wealth. I see this translated into him knowing he is going to have to sneak by. That would mean that we could either be stuck with an owner who is a penny pincher or an owner in Glen Taylor who is worth 1.7 billion dollars. You do the math to see which one that the other NFL owners want.
It's true, the owners could block the deal with Fowler, but I don't think they will. All things being equal, the math makes sense. But Taylor has expressed interest for three years without anything happening. I think the owners will allow Fowler to acquire the team rather than continue to wait for McCombs and Taylor to come to an agreement. It will be interesting to see what happens.
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