Owning an NFL team, or any other sports franchise, is an extremely valuable and profitable business. Major American sports franchises are worth billions of dollars and their values have been steadily increasing just about every year. They rarely go up for sale, but once in a while an owner wants to cash in on the value of their franchise.
Arte Moreno, the principal owner of the Los Angeles Angels of Anaheim baseball team in the MLB, is 76 years old. He recently announced that he's looking to sell the team. He stated that it's probably the best financial move for his family to cash in on a big payday in the latter part of his life. Here are three NFL owners who should consider doing the same thing.
#1 - Virginia McCaskey
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Virginia McCaskey is currently 99 years old and is the principal NFL owner of the Chicago Bears. The historic NFL franchise has been rumored several times to possibly go up for sale, including in 2021, but it still hasn't happened yet.
There is reportedly no official succession plan for when McCaskey eventually passes. It is currently on track to be liquidated if that were to happen. It may be wise for her to sell the franchise, having control over who buys it, for how much, and where the profits go.
#2 - Dean Spanos
Dean Spanos is the principal owner of the Los Angeles Chargers, but technically only owns 15% of the team. He also controls the trust left behind by his father, which owns an additional 36% of the team. Each of the Spanos siblings also own a 15% stake.
Dean Spanos has often insisted that he would never sell the NFL franchise, but his siblings reportedly disagree. They would rather liquidate and split the profit. As a result, the relationship between the siblings has been ugly at times. Dean's sister, Dea Spanos Berberian, once filed a lawsuit against him for misappropriating family funds. A seemingly simple solution for the Spanos family feud is to sell theNFL franchise and move forward.
#3 - Gayle Benson
Gayle Benson currently owns the New Orleans Saints. She recently said in an interview with the New Orleans Times that she plans in her will to sell the NFL team after she passes away. She said she would send the profits from the sale to many different charities.
Benson has always been extremely charitable, claiming that it brings her great joy to be able to help out with needy causes. The most logical way for Benson to get the most out of her plan would be to sell the team before she passes away so that she can execute the donations herself.
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