Philadelphia Eagles Ownership
Jeffrey Lurie loved all the Boston teams. He went to games and put himself to sleep listening to the Red Sox on his transistor radio.The Luries had been season-ticket holders since the New England Patriots since franchise was born in 1960, the year the American Football League was founded. Lurie cheered for Gino Cappellitti, Houston Antwine and Babe Parilli. This was the team of his dreams. In 1993 Jeffrey Lurie tried to buy the New England Patriots but he dropped out of the bidding at $150 million when his uncle Richard Smith nixed the purchase based on the financials .
Lurie's name also had surfaced in sale talks regarding the Los Angeles Rams, and he was a potential investor in a bid for a Baltimore expansion team with Robert Tisch, who subsequently bought 50 percent of the Giants. Five months later, Smith agreed to let his nephew buy the Eagles. Lurie contacted Norman Braman, then-owner of the Eagles. Lurie bought the Philadelphia Eagles on May 6, 1994 from Norman Braman for $195 million. Lurie and his mother, Nancy Lurie Marks of Chestnut Hill, Mass. - Philip Smith's only daughter - borrowed an estimated $190 million from the Bank of Boston to buy the Eagles. To back the Bank of Boston loan, Lurie put up millions of dollars' worth of personal stock in Harcourt General and GC Companies Inc., as equity capital. Additionally, he and his mother pledged their stock in the family trust as collateral so Lurie could borrow the rest.
"I am very excited at the prospect of acquiring the franchise and becoming a Philadelphian," Lurie said in a statement. "Philadelphia is one of the great sports cities in America, and I look forward to a long and successful relationship with the city, its team and its loyal fans."
The club is now estimated to be worth $1.164 billion, as valued in 2011 by Forbes.
The NFL has grown exponentially over the last 11 years, as the league’s growth continues to be driven in large part by highly profitable national TV rights fees.
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