I'll believe it when I see it. There are a few misconceptions about why there haven't been any black majority owners in the #NFL - A short thread on why it hasn't happened before....
https://twitter.com/MatthewTabeek/status/1484361139706216449
While the process of #NFL ownership can be a bit murky here are the main requirements.
1. You have to have between 30-40% of the team value up front AND be able to buy out the next 2 largest investors. Considering the average team is about 3 billion that's a lot of liquid income
1. You have to have between 30-40% of the team value up front AND be able to buy out the next 2 largest investors. Considering the average team is about 3 billion that's a lot of liquid income
In most cases your ownership group can't be more than 24 people, which means the price of buying out anyone who backs out of the deal is immense
You have to find an owner willing to sell you a team and they can ask you for anything. Personal finances, background information etc. It's not like buying a house where there's a tin of federal regulations
Most importantly. Once someone's agreed to sell to you. And you have the 30-40% roughly 24 out of 32 team owners have to vote to let you into the most high profile exclusive club in America. THAT is why there's been no black majority owners in the NFL in this Era
Basically 24 out of 32 mini Trumps have to agree to let you into thier #NFL club. Trust me there have been a few wealthy black people who've tried. I wrote about one of them, Reggie Fowler, who tried to buy the @Vikings in 09
newpittsburghcourier.com/2009/10/22/rus…
newpittsburghcourier.com/2009/10/22/rus…
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