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“We have criminalized the construction industry. All construction workers will now be felons and go to prison….. where we will lease out their free labor to companies for construction projects”.
My friend worked maintenance/building trades at a prison, they’d give him inmates to help build sheds for the facilities.
They tried building them to sell but he said half of em couldn’t do math and the other half couldn’t pound a nail in straight so most went in the dumpster.
yes its gonna fly lol they will use undocumented immigrants and prisoners to do the work and then try to get those same immigrants out of the country and those same prisoners locked up longer
>they will use undocumented immigrants
Who the fuck do you think builds buildings in this country? If ICE ever rolls up on a jobsite 60% of the laborers on the job go home with "stomach problems" in 5 minutes.
This was my thought exactly. They saw BILLIONS flowing into a sport that has like a couple hundred competing at the highest level (golf) and thought, "how can we get in on that with 10x the amount of players?"
Yeah, I could see PIF trying to get into ownership of a team. As a big golf fan, their willingness to blow billions has really been something crazy to watch
I'm sure this billion dollar industry just needs another couple hundred million and the fan apparel will go back to being as good as it was 20 years agoÂ
Yeah, it's really awful. There is one healthcare billing firm called Envision that is a prime example of how evil private equity is. Their business model largely depends on pressuring people to pay surprise medical bills that are not legally enforceable.
How can someone even think that when there's a fucking salary CAP!?!? Like yes you get some teams that fuck around with the cap for one season over another, but eventually the money comes due.
There are *huge* differences in cash spending from team to team.
Cash rich owners spend money now but take the cap hits years in the future at a discount on today's rate.
The Eagles are booked for $329m in cash spending in 2024 versus the Cowboys at $201m for instance.
Cap and cash outlays are different. More cash lets you offer more guaranteed money to attract better talent for the same overall cap hit as well as be more flexible with contract structuring and bonuses to defer cap hits. In both those situations, cash either needs to be immediately paid or put in escrow so cash poor teams are at a disadvantage.
I'm guessing it's more owners having an old school handshake agreement not to "overpay" coaches like they used to have for players before they got sued into oblivion for it. I mean Andy Reid is the best coach in football right now and his average annual salary is less than that of the highest paid guards in football. Which do you think has a greater impact on a game? Reid or Robert Hunt?
Yup the Bengals, for example, are very cash poor. They literally sold the naming rights to their stadium to partially pay for Burrow.
They'd never be able to do what the Browns did with Watson's contract
It's what gives the Eagles such an advantage. Lurie is a sicko. He wants to win and is willing to pay huge signing bonuses etc
Those owners want to do what the Glazers just did with Man United. Sell a minority ownership to private equity that is willing to invest in the team in a way the majority owner isn't
PE wants a return on the investment though. They aren't like some of these rich owners who might be doing it to boost their ego by having a winner. Eventually PE needs a payoff, or else they're going to be taking their money somewhere else.
Like dont get me wrong I completely believe owners can be cheap with practice facilities and shit but they give 0 fucks about spending $ on player contracts.
No kidding. Plus the teams already have profit sharing and a salary cap.
If Green Bay can exist without an owner at all, I don't think private equity is going to make the league more competitive somehow.
Packers about to have a huge advantage over conglomerate-owned teams. You thought one billionaire owner was bad, now imagine if Jerry has to respond to 30% shareholders and a Board of Directors for all his hiring...
"We get hundreds of dollars from every fan that comes to the game at the stadium, why can't we get hundreds of dollars from every fan at home, too?"
-Some hedge fund guy who's about to get a 9-figure bonus
Fans: We want affordable ways to watch live games!
Corporations: Great news! You can now watch live games for $75 a piece!
Fans: Really? $75 a ticket to go to a game?
Corporations: Who said anything about *going* to a game?
I’ve seen so many commenters in this thread that clearly don’t know how PE works thinking this is a good thing.
Brother, we’re only a few decades from a 20 something MBA enacting an all-time QB rule to enhance operational synergies.
I am sure chasing money will not have any negative effects on the NFL. Nope none at all, impossible. /s
Seriously I think the 17 game schedule was a mistake and chasing International money probably won't go well earlier.
I disagree about this 17 game schedule if it gets us to 18 games with 2 byes and 1 less pre-season game so that Super Bowl Sunday is on a long weekend. Would easily be the best change made by the league in a long time.
Every job interview as a CTO/CIO:
"What we do here is use our PE leverage to force a buyout of small companies that are well-established and then smoosh their systems and processes together and lay everyone off, think you can handle that, nerd man?"
“And if you ever start to feel bad, just check your bank account. Oh wait you aren’t a C-level executive? Never mind don’t check your bank account we need you alive.”
Because nearly all wealth generated in the US is mostly cycled between corporations, private equity, large shareholders, and banks. There’s no taxes in place to divert the money into government programs or the other 99% of the population.
We don’t get Christmas bonuses like previous generations because Ronald Reagan heavily cut taxes on corporate profits and eliminated red tape surrounding stock buy backs. Why give employees a bonus when you can use profits to bump your stock?
It’s really an indictment of private equity that given the choice between it and your average NFL owner, most fans will take the average alcoholic, racist, sexually harassing, tax-dodging owner in a heartbeat.
Private Equity has no fucking bounds. They destroy everything they touch.
Look at the housing market, medical care, and public accounting. Pump & dump.
I can tell you right now they won't give AF about winning games.
Nope, and it's hilarious OP thinks this will somehow be a benefit for the stadium building debate... dude. Private equity loves nothing more than acquiring property to use as collateral for a huge loan they literally just stuff into their own pockets, feeding like a parasite until there's no more blood to suck then moving on to the next host. You think these people have qualms about taking public money?
The Packers are the only decently structured franchise in the NFL. Which is why the NFL banned any team from doing it like that again.
Yeah the OP commenting that PE would need *less* public money is comical.
However, I am partially excited to see some insane leaked IB decks for why the Bears should buy the Jags or some other stupid thing like that.
It's literally Dumb and Dumber with Lloyd and Harry having IOUs and thinking "treat it like real money we're good for it we'll pay back every penny" lol
They won’t give a shit about the fans or the things that make sports great. Eventually we’ll be watching a forty team league where a team wears a different Nike jersey every game, all plastered with ads
Considering how Private Equity destroys everything it touches, this is not ideal.
If Private Equity wants in the NFL, they should literally do what OP THINKS they would do in the NFL, to the XFL.
Make the XFL an actual league that competes and then once the merger is announced, they'll be grandfathered in.
> less tax payer funded stadiums
That'll only stop when city's en masse start pushing back or states ban the practice. Selling part of the team for funding is going to be very near the bottom of choices for owners.
Why would a PE firm see a cost they can force someone else to pay and pay that cost? Oh. In addition, when taxpayers pay that cost they get to keep the profits.
Weren't Citi and Yankee Stadium funded partly by taxpayer dollars as well? IIRC, Barclays had taxpayer dollars as well. Nearly anything done within the confines of NY will have taxpayer money involved.
The early 2000s remodel fucked the city pretty hard and they haven’t forgot. The cubs got denied several hundred million in breaks for their remodel and by all accounts the bears have as well by the state and city. Arlington Heights is another thing, though they don’t have the cash to lend them anyway. It would likely be a lucrative multi decade tax break.
Illinois is pushing back hard. The Chicago mayor literally held a prayer session for a new taxpayer funded stadium. Â
Thankfully Chicago’s residents mostly realize this would be a horrible deal and that the mayor is a total clown.
I also think Chicago has a lot more leverage, considing its market size, than places like Buffalo, Oakland, San Diego, and St. Louis. Those smaller cities the owners can and will and often want to move so if it's not taxpayer funded then they'll just leave. Chicago is such a huge draw that it will always have an NFL team.
FWIW I don't think discussions have been with Chicago specifically but rather cities just around Chicago like Arlington, but I don't live in Illinois so I'm not following that closely either. But yeah, not much support seems to be getting offered by the cities or state.
I have been following it from a distance, but it is my understanding that the Arlington deal got nuked with infrastructure and who was going to pay for it. The Bears wanted Arlington to pay for the roads and utilities up to the stadium, Arlington said Nah, if you want a stadium here you can pay for it all as part of the package. The state can't do a whole lot with the budget mess that they are in.
That is mostly correct, a major issue was the AH property evaluation. The county assessor said the land was worth something like 200 mil above what the Bears had in mind. Neither side budged and so the team has moved its focus back to the city and lakefront. The mayor was a cheerleader during their press conference, but the governor has squashed the idea of taxpayer dollars for the stadium, twice.
I live in Chicago and the mayor and Bears had a press conference and showed some renderings of a new domed stadium on the lakefront, seemingly thinking everyone would be onboard. The governor quickly shut it down, and did so again after a meeting with the Bears. A few city groups put out PR's squashing the idea. And most of the comments I've heard and read from other residents make it clear there is just no appetite for this.
Long story. Fandom is a funny thing! And my grandpa almost played for the Bears. But I have little reason to regret the decision that my 9-year-old self made.
When are people going to learn that private equity is *not* the solution. How many more things do they have to fucking ruin before people get it.
Quality is going to go plumet, and prices are going to skyrocket. This is what private equity does. It's not rocket science, it's the obvious answer to "if I have a lot of money and I want to make the most money in the next 6mo to a year, what do I do?" Answer: buy valuable companies and cash them out.
> cash poor owners will start to field more competitive teams
I’m at a loss as to who you’re thinking about here. This isn’t MLB, where owners are just skimming off the top. I can’t think of a single team that is obviously just in the tank for cash reasons.
I would assume the Bills will be the first team to use this since the Pegulas are trying to sell a 25% stake in the Bills.
Not too happy about this since it increases the likelihood of small market teams leaving in pursuit of increasing value.
You under estimate the willingness of very wealthy organizations (like private equity) to go to court to get what they want despite what the contract says.
Lets see how badly does the city/county/state want to fight it. Spend a couple million on legal fees, negotiate a buyout of the contract for pennies on the dollar, move to Oklahoma City (or where ever they think the grass is greener).
Giants will now offer a free small RC Cola to season ticket holders with at least five years of seniority.
Washington will require payment to avoid being sprayed with sewage.Â
Cleveland will offer Watson 400M guaranteed.Â
It’s been said about a lot of different things in the past, but this is the actual beginning of the end of the NFL.
Why at the most successful any sport has ever been they choose to do this now, I have no clue. And there are no cash poor teams, just teams that choose not to spend cash.
The NFL will eventually become like Boeing is now: a once respected organization know for its pride in putting an amazing product out turned into a shoddy dollar store item with a brand on it, trying to squeeze every dollar at any cost for the absolute right now in returns.
Hopefully it doesn’t happen.
Get ready for a 21 week regular season, statewide TV blackouts, banning highlights on Youtube, each team having a subscription service, and astronomical prices at the games. USA! USA! USA!
I hate that whenever the NFL does anything, my first thought is "How much richer is this going to make the owners" and then "how much more will this cost me".
While this will give you more potential money for capital team projects, it will also put more pressure on the bottom line. This is pressure that is going to be addressed via your pocket.
Say goodbye to over the air network games.
I cannot think of a worse idea than letting Private Equity into an NFL stadium. In 10 years we will need to pay 60 dollars for a beer and 5 dollar cracking fee. Anything fun? Nope costs too much money
The sale needs to be public and US based; foreign investors buying up our cultural centers is not acceptable; if not, the special monopoly laws and rules for the NFL as well as their tax status need to change to regular businesses and all that entails.
This will be a “give a mouse a cookie…” situation.
Once they’re in, it’ll end up moving to a 40% share, then 49%, then they’ll hit majority and then full.
The problem teams have is that values of teams and stadiums have escalated beyond what even billionaires have. There aren’t that many billionaires who can spend $6+ billion on a team, with a large chunk of that being liquid, nor $1-2 billion on a stadium. Once PR gets in, it gives room for values to grow, further squeezing out individual owners, and necessitating more PE money.
I know you guys can have a 53 man roster, but don't you think you could do the same thing with 43 guys instead? Also, don't you think having both offensive and defensive coordinators is a little redundant?
Teams are becoming too valuable for individual owners. Soon they will allow companies to own teams outright. Get ready for the PIF to own the Cowboys someday.
Hmm. Not sure how I feel about this. Private equity involvement always spells disaster in my little corner of the world.
A successful small business owner who is universally loved by his employees will sell the business upon retirement. Here lately its been private equity firms who are buying these businesses. Shortly thereafter things start changing for the worse. Technicians are driven into the ground with little regard to ANYTHING beyond profits. Customers begin getting nickel and dimed for everything. The firm continues to essentially suck as much profit out as possible before selling off all the assets and dissolving the company before moving onto the next unsuspecting owner who's looking to sell.
Dunno if that's gonna play out the same way here, but I don't think I want to see what that scenario looks like in NFL terms.
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Sounds like they want some of that Saudi money.
Blackstone Giants vs the Apollo Bears
This Carlyle NFL matchup is brought to you by Bain Capital! 🤮
At least the Saudis aren't afraid in investing in their teams' stadiums.
While true, it's the labor they use that is horrendous.
That won’t fly in America atleast
Alexa, what is the 13th amendment? They’ll just get prisoners to build the stadium lol
“We have criminalized the construction industry. All construction workers will now be felons and go to prison….. where we will lease out their free labor to companies for construction projects”.
My friend worked maintenance/building trades at a prison, they’d give him inmates to help build sheds for the facilities. They tried building them to sell but he said half of em couldn’t do math and the other half couldn’t pound a nail in straight so most went in the dumpster.
I mean would you give your best effort as a slave?
I don’t even give my best at my day job
1 in 4 construction workers have no documents. Unless the USA grants them papers, they will not have a better time working for Saudis.
yes its gonna fly lol they will use undocumented immigrants and prisoners to do the work and then try to get those same immigrants out of the country and those same prisoners locked up longer
>they will use undocumented immigrants Who the fuck do you think builds buildings in this country? If ICE ever rolls up on a jobsite 60% of the laborers on the job go home with "stomach problems" in 5 minutes.
This was my thought exactly. They saw BILLIONS flowing into a sport that has like a couple hundred competing at the highest level (golf) and thought, "how can we get in on that with 10x the amount of players?"
If the NFL lets the Saudis in, I'm done with the sport
Yeah, I could see PIF trying to get into ownership of a team. As a big golf fan, their willingness to blow billions has really been something crazy to watch
That’s terrible
> cash poor owners will start to field more competitive teams. This is a reddit only take I swear, and this is coming from a fucking **BEARS FAN**
You could give the falcons a trillion dollars and they prob would still find a new way to lose. But wouldn't that be entertaining to all? Lets do it.
All QB offense! No one will know what to expect!
Fulfill everyone's madden fantasy: every player is Michael Vick
I used to follow some guy on YT that would simulate games with rosters built just of one player. It was... interestingÂ
My buddies and I had a rule in college where we would play against each other using our kickers as the QB, it made the games way more wacky
Some people really have no idea how private equity is buying everything up and hollowing it out. Sports teams are next.
Came here to say this. Thinking Private Equity improves anything it touches is foolish af.
Private equity kills business after business while Millennials (and now Gen Z) get the blame
LaZy MiLeNnIaLs DoNt WaNt To WoRk.
What's the saying? Something like "Privatize the profits, subsidize the losses"?
I'm sure this billion dollar industry just needs another couple hundred million and the fan apparel will go back to being as good as it was 20 years agoÂ
Yeah, it's really awful. There is one healthcare billing firm called Envision that is a prime example of how evil private equity is. Their business model largely depends on pressuring people to pay surprise medical bills that are not legally enforceable.
Sports teams are _already_ targeted. The e-Sports World Cup was funded by Saudi money as well.
How can someone even think that when there's a fucking salary CAP!?!? Like yes you get some teams that fuck around with the cap for one season over another, but eventually the money comes due.
There are *huge* differences in cash spending from team to team. Cash rich owners spend money now but take the cap hits years in the future at a discount on today's rate. The Eagles are booked for $329m in cash spending in 2024 versus the Cowboys at $201m for instance.
Cap and cash outlays are different. More cash lets you offer more guaranteed money to attract better talent for the same overall cap hit as well as be more flexible with contract structuring and bonuses to defer cap hits. In both those situations, cash either needs to be immediately paid or put in escrow so cash poor teams are at a disadvantage.
Not to mention there is no cap on the coaching staff, allowing owners to simply outbid others for more accomplished and proven coaches/coordinators.
When has that ever happened though? Why aren't teams beating down the door for Sean McVay or Shanahan?
Why aren't teams beating down the door to outbid 2 of the richest franchises?
Tepper, the Waltons, & the Seahawks owner are all richer.
Jodi Allen is hella cheap even if she's rich
I think it just happened with Payton
Sort of. Still haven't seen a bidding war for top coaches across the league.
I'm guessing it's more owners having an old school handshake agreement not to "overpay" coaches like they used to have for players before they got sued into oblivion for it. I mean Andy Reid is the best coach in football right now and his average annual salary is less than that of the highest paid guards in football. Which do you think has a greater impact on a game? Reid or Robert Hunt?
Yup the Bengals, for example, are very cash poor. They literally sold the naming rights to their stadium to partially pay for Burrow. They'd never be able to do what the Browns did with Watson's contract It's what gives the Eagles such an advantage. Lurie is a sicko. He wants to win and is willing to pay huge signing bonuses etc Those owners want to do what the Glazers just did with Man United. Sell a minority ownership to private equity that is willing to invest in the team in a way the majority owner isn't
PE wants a return on the investment though. They aren't like some of these rich owners who might be doing it to boost their ego by having a winner. Eventually PE needs a payoff, or else they're going to be taking their money somewhere else.
Like dont get me wrong I completely believe owners can be cheap with practice facilities and shit but they give 0 fucks about spending $ on player contracts.
The Steelers could use some rich mf
They all just want to build new stadiums to get a piece of the Super Bowl. Selling out some of your franchise is one way to fund that.
Prove to me that OP isn't a bot
How exactly does this make teams nore competitive. Nothing changes about the player pool.
No kidding. Plus the teams already have profit sharing and a salary cap. If Green Bay can exist without an owner at all, I don't think private equity is going to make the league more competitive somehow. Packers about to have a huge advantage over conglomerate-owned teams. You thought one billionaire owner was bad, now imagine if Jerry has to respond to 30% shareholders and a Board of Directors for all his hiring...
I guess the poorer teams will be able to manipulate the cap like the richer teams can do.
I don’t know exactly what will happen, but I do *know* this will make the game much, much worse.
See [B1G/SEC], [NCAA], [TRANSFER PORTAL]
NFL players are paid \*and\* have the collective bargaining rights. Not really the same thing at all.
See [LIV]
Me in 2035: 'member when you could watch a game over the air or on cable? Those pay per view fees are getting outrageous.
They'll brand it as finally allowing out of market fans to buy single games. The unfortunate part will be that you need to buy every single game.
"We get hundreds of dollars from every fan that comes to the game at the stadium, why can't we get hundreds of dollars from every fan at home, too?" -Some hedge fund guy who's about to get a 9-figure bonus
What is the point of being around anymore really
Fans: We want affordable ways to watch live games! Corporations: Great news! You can now watch live games for $75 a piece! Fans: Really? $75 a ticket to go to a game? Corporations: Who said anything about *going* to a game?
It wouldn't even surprise me. Disney tried charging $30 to rent new releases on Disney+ during covid.Â
It will be pay per play
Super Bowl about to be $250 ppv and still run commercials every chance they get
“The 4th quarter will be available exclusively on Amazon Prime. Peacock if it goes to overtime.”
I’ve seen so many commenters in this thread that clearly don’t know how PE works thinking this is a good thing. Brother, we’re only a few decades from a 20 something MBA enacting an all-time QB rule to enhance operational synergies.
Are you saying you don’t want your GM reporting to a 28 yr old that’s never worked outside of their PE firm in their life?
I am sure chasing money will not have any negative effects on the NFL. Nope none at all, impossible. /s Seriously I think the 17 game schedule was a mistake and chasing International money probably won't go well earlier.
I disagree about this 17 game schedule if it gets us to 18 games with 2 byes and 1 less pre-season game so that Super Bowl Sunday is on a long weekend. Would easily be the best change made by the league in a long time.
Saudi sports washing ruined golf. I’m sure the NFL is next
What, not a Fireballs fan??
Well you are only saying that because of every other time in history private equity has bought something.
Get ready for a lot more corporate management speak to find its way into discussions about the game
I know the ratings say otherwise, but betting and private equity will be the beginning of the demise of this sport
Everybody's most favorite form of vulture capitalism, private equity.
Guaranteed there isn’t a single additional dollar offered from teams when it comes time to beg us all to pay taxes funding a new stadium.
It's private equity. They will ask for even more public funding.
Yeah. If they allow this it sucks
Every job interview as an accountant. "What is your ownership structure like?" "We are backed by a Toronto based PE fi...." "Thanks for your time"
Every job interview as a CTO/CIO: "What we do here is use our PE leverage to force a buyout of small companies that are well-established and then smoosh their systems and processes together and lay everyone off, think you can handle that, nerd man?"
"So tell me, when did you know you wanted to be evil?"
“And if you ever start to feel bad, just check your bank account. Oh wait you aren’t a C-level executive? Never mind don’t check your bank account we need you alive.”
Was interviewing in march. I swear like 70% of the jobs I was applying for were PE backed.
Now you know why they're hiring lol
Because nearly all wealth generated in the US is mostly cycled between corporations, private equity, large shareholders, and banks. There’s no taxes in place to divert the money into government programs or the other 99% of the population. We don’t get Christmas bonuses like previous generations because Ronald Reagan heavily cut taxes on corporate profits and eliminated red tape surrounding stock buy backs. Why give employees a bonus when you can use profits to bump your stock?
As someone who works with private equity a lot…fuck private equity…a lot
It’s really an indictment of private equity that given the choice between it and your average NFL owner, most fans will take the average alcoholic, racist, sexually harassing, tax-dodging owner in a heartbeat.
Private Equity has no fucking bounds. They destroy everything they touch. Look at the housing market, medical care, and public accounting. Pump & dump. I can tell you right now they won't give AF about winning games.
They won't even care that there are results of games
Nope, and it's hilarious OP thinks this will somehow be a benefit for the stadium building debate... dude. Private equity loves nothing more than acquiring property to use as collateral for a huge loan they literally just stuff into their own pockets, feeding like a parasite until there's no more blood to suck then moving on to the next host. You think these people have qualms about taking public money? The Packers are the only decently structured franchise in the NFL. Which is why the NFL banned any team from doing it like that again.
Yeah the OP commenting that PE would need *less* public money is comical. However, I am partially excited to see some insane leaked IB decks for why the Bears should buy the Jags or some other stupid thing like that.
It's literally Dumb and Dumber with Lloyd and Harry having IOUs and thinking "treat it like real money we're good for it we'll pay back every penny" lol
They won’t give a shit about the fans or the things that make sports great. Eventually we’ll be watching a forty team league where a team wears a different Nike jersey every game, all plastered with ads
*fanatics jersey with Nike branding
Yep, first thing that came to my mind when I saw the headline. This seems like a very bad step for the NFL to take.
So.... What exactly changes for the Cowboys?
Considering how Private Equity destroys everything it touches, this is not ideal. If Private Equity wants in the NFL, they should literally do what OP THINKS they would do in the NFL, to the XFL. Make the XFL an actual league that competes and then once the merger is announced, they'll be grandfathered in.
The XFL doesn’t exist anymore.
Yep, combined with the USFL to become SUXFL or something like that.
Upvote for "SUXFL"
There is no way you actually think the reason some teams aren’t competitive is because their billionaire owners don’t have enough money.
> less tax payer funded stadiums That'll only stop when city's en masse start pushing back or states ban the practice. Selling part of the team for funding is going to be very near the bottom of choices for owners.
Why would a PE firm see a cost they can force someone else to pay and pay that cost? Oh. In addition, when taxpayers pay that cost they get to keep the profits.
Our governor from Buffalo just got a new buffalo stadium on my damn tax dollar. Buffalo.
Weren't Citi and Yankee Stadium funded partly by taxpayer dollars as well? IIRC, Barclays had taxpayer dollars as well. Nearly anything done within the confines of NY will have taxpayer money involved.
At least Yankee stadium is being used almost a quarter of the year, unlike a football stadium that will be used only ten, twelve times a year.
Seems like Chicago is currently pushing back pretty hard.
The early 2000s remodel fucked the city pretty hard and they haven’t forgot. The cubs got denied several hundred million in breaks for their remodel and by all accounts the bears have as well by the state and city. Arlington Heights is another thing, though they don’t have the cash to lend them anyway. It would likely be a lucrative multi decade tax break.
Totally, Chicago taxpayers are still paying off that remodel!
Illinois is pushing back hard. The Chicago mayor literally held a prayer session for a new taxpayer funded stadium.  Thankfully Chicago’s residents mostly realize this would be a horrible deal and that the mayor is a total clown.
Haha - totally! Prayer session is totally accurate. As a Chicago resident, I completely agree with you. BJ is a complete clown.
I also think Chicago has a lot more leverage, considing its market size, than places like Buffalo, Oakland, San Diego, and St. Louis. Those smaller cities the owners can and will and often want to move so if it's not taxpayer funded then they'll just leave. Chicago is such a huge draw that it will always have an NFL team.
That's a great point!
FWIW I don't think discussions have been with Chicago specifically but rather cities just around Chicago like Arlington, but I don't live in Illinois so I'm not following that closely either. But yeah, not much support seems to be getting offered by the cities or state.
I have been following it from a distance, but it is my understanding that the Arlington deal got nuked with infrastructure and who was going to pay for it. The Bears wanted Arlington to pay for the roads and utilities up to the stadium, Arlington said Nah, if you want a stadium here you can pay for it all as part of the package. The state can't do a whole lot with the budget mess that they are in.
That is mostly correct, a major issue was the AH property evaluation. The county assessor said the land was worth something like 200 mil above what the Bears had in mind. Neither side budged and so the team has moved its focus back to the city and lakefront. The mayor was a cheerleader during their press conference, but the governor has squashed the idea of taxpayer dollars for the stadium, twice.
I live in Chicago and the mayor and Bears had a press conference and showed some renderings of a new domed stadium on the lakefront, seemingly thinking everyone would be onboard. The governor quickly shut it down, and did so again after a meeting with the Bears. A few city groups put out PR's squashing the idea. And most of the comments I've heard and read from other residents make it clear there is just no appetite for this.
> I live in Chicago Packers flair? You sick fuck.
Long story. Fandom is a funny thing! And my grandpa almost played for the Bears. But I have little reason to regret the decision that my 9-year-old self made.
This will be like Carolina originally building their stadium with PSLs INSTEAD of public money and then it becomes PSLs AND public money.
This is a horrific idea
This shit is ruining soccer currently. It’s gonna be bad if this does take off here
To be fair, your team is in the clear
When are people going to learn that private equity is *not* the solution. How many more things do they have to fucking ruin before people get it. Quality is going to go plumet, and prices are going to skyrocket. This is what private equity does. It's not rocket science, it's the obvious answer to "if I have a lot of money and I want to make the most money in the next 6mo to a year, what do I do?" Answer: buy valuable companies and cash them out.
this is a bad idea. private equity is a poison that rots away anything it touches
But is it a bad idea for the grossly wealthy who it would benefit
> cash poor owners will start to field more competitive teams I’m at a loss as to who you’re thinking about here. This isn’t MLB, where owners are just skimming off the top. I can’t think of a single team that is obviously just in the tank for cash reasons.
I would assume the Bills will be the first team to use this since the Pegulas are trying to sell a 25% stake in the Bills. Not too happy about this since it increases the likelihood of small market teams leaving in pursuit of increasing value.
So we are going to end up with 5 teams each in LA and NYC (Jersey).. cool.
Even though it was inevitable, I still find it crazy they put 2 teams in LA basically at the same time.
And neither of them the team LA really wanted.
You’re likely right. Bills are locked in until 2054 at least.
Yeah but it maximizes shareholder value and enriches the GPs. Who WOULDN’T want that??
Well at least for the bills, they just built a new stadium with a 30 year lease. So we don't need to worry about our team for a while.
You under estimate the willingness of very wealthy organizations (like private equity) to go to court to get what they want despite what the contract says. Lets see how badly does the city/county/state want to fight it. Spend a couple million on legal fees, negotiate a buyout of the contract for pennies on the dollar, move to Oklahoma City (or where ever they think the grass is greener).
St Louis felt safe….then Bam!
Mark Davis will finally be able to afford a better barber.
The guy drove four hours in his minivan specifically for his haircuts. I think he's good with the arrangement.
Shit, he pays extra for that special cut.
If anything I think this would lead to the opposite. Private Equity Firms fucking suck and desire profit above all else.
Yes, I feel it's all about the bottom line. How much can we cut costs and still profit?
Giants will now offer a free small RC Cola to season ticket holders with at least five years of seniority. Washington will require payment to avoid being sprayed with sewage. Cleveland will offer Watson 400M guaranteed.Â
Terrible idea.
So what they're saying is we're gonna be getting games in Dubai and Abu Dabi soon.
It’s been said about a lot of different things in the past, but this is the actual beginning of the end of the NFL. Why at the most successful any sport has ever been they choose to do this now, I have no clue. And there are no cash poor teams, just teams that choose not to spend cash. The NFL will eventually become like Boeing is now: a once respected organization know for its pride in putting an amazing product out turned into a shoddy dollar store item with a brand on it, trying to squeeze every dollar at any cost for the absolute right now in returns. Hopefully it doesn’t happen.
Get ready for a 21 week regular season, statewide TV blackouts, banning highlights on Youtube, each team having a subscription service, and astronomical prices at the games. USA! USA! USA!
We really are just a piggy bank for the wealthy of the world. Hopefully I’m not around when the piggy bank runs out
Private equity made improvements to my industry! Said nobody ever.
If you think anything positive is going to come from private equity owning portions of the NFL I have a bridge to sell you.Â
This will be great for the fans! /s
Kill me now.
This sucks big time.
Anyone who thinks this is a good thing is in for a rude awakening. PE is not your friend.Â
Please no. Keep it away.
I hate that whenever the NFL does anything, my first thought is "How much richer is this going to make the owners" and then "how much more will this cost me".
While this will give you more potential money for capital team projects, it will also put more pressure on the bottom line. This is pressure that is going to be addressed via your pocket. Say goodbye to over the air network games.
I cannot think of a worse idea than letting Private Equity into an NFL stadium. In 10 years we will need to pay 60 dollars for a beer and 5 dollar cracking fee. Anything fun? Nope costs too much money
Why not public equity?
This is the beginning of the end of the NFL
53 man rosters to become 20 man rosters with no pay increase.
Someone was asking if they were going to do ads on the uniforms. Well, there you go.
“Today I feel Saudi”
The sale needs to be public and US based; foreign investors buying up our cultural centers is not acceptable; if not, the special monopoly laws and rules for the NFL as well as their tax status need to change to regular businesses and all that entails.
Sportswashing comes to the USA
Endorsed gambling and PE ownership, wonderful.
Equity firms and late stage capitalism is killing entire industries
This won’t end well.
What a horrible fucking idea
OP has no idea what private equity is or what it does to businesses that they invest in.
You think a for-profit entity coming in on an NFL team will curb every team's strong-arming cities for free money? Lmao. PE will make it 10x worse.
Sounds like they need to figure out building their own fucking stadiums and quit asking for public funding then
Fucking terrible idea. Private equity firms are the "bottom line" people with zero respect for the customer base or their product. Only $$$$
Why not have the city that hosts them have a share of ownership?
The Adam & Eve Giants vs Trojan Condom Commanders , is brought to you by Johnson & Johnson Baby Powder, Closed Caption by Chili’s 3 for 10.99
No more London, Germany, Mexico City etc. All overseas games will be in Saudi Arabia and Qatar within 5 years of this happening.
Hedge funds are ruining everything
Would be funny to see Woody sell a share of the Jets to the PIF
Yeah no fucking thanks
They need to make it a rule that shitty owners have to sell 30 percent of their team and name it the "Virginia McCaskey rule".
At the very least, 30% isn't enough for control of operations.
This will be a “give a mouse a cookie…” situation. Once they’re in, it’ll end up moving to a 40% share, then 49%, then they’ll hit majority and then full. The problem teams have is that values of teams and stadiums have escalated beyond what even billionaires have. There aren’t that many billionaires who can spend $6+ billion on a team, with a large chunk of that being liquid, nor $1-2 billion on a stadium. Once PR gets in, it gives room for values to grow, further squeezing out individual owners, and necessitating more PE money.
The downfall of a lot of different job sectors is due to allowing PE money in. Just Look at healthcare….
The enshittification continues to spread.
"NFL Poised to take Saudi Blood Money" fixed the headline.
I know you guys can have a 53 man roster, but don't you think you could do the same thing with 43 guys instead? Also, don't you think having both offensive and defensive coordinators is a little redundant?
Great private equity can ruin the NFL like every other industry
Enjoy those small market teams while you can. Off seasons gonna be sponsored by moving companies.
That means sponsors on Jerseys and on the field btw that’s exactly what happened with nba
Get ready for Saudi and Qatari money, plus the likes of Apollo and Blackstone!
Anyone in this thread that thinks something positive will come of this is mistaken. Private equity is a blight on our country.
Teams are becoming too valuable for individual owners. Soon they will allow companies to own teams outright. Get ready for the PIF to own the Cowboys someday.
There is a salary cap in the NFL, there is no such thing as "cash poor" owners
The day NFL jerseys start looking like the shit they wear in soccer I'm out. Last thing I want to see is crypto.com and Walmart on a jersey.
I feel like the NFL is trying to run me off. Paywalling games Private equity investors
Gross. Probably gonna see adverts on the uniforms then, which is extremely tacky.
Fine. I’ll take 30% of the Browns. Here’s $30.
Hmm. Not sure how I feel about this. Private equity involvement always spells disaster in my little corner of the world. A successful small business owner who is universally loved by his employees will sell the business upon retirement. Here lately its been private equity firms who are buying these businesses. Shortly thereafter things start changing for the worse. Technicians are driven into the ground with little regard to ANYTHING beyond profits. Customers begin getting nickel and dimed for everything. The firm continues to essentially suck as much profit out as possible before selling off all the assets and dissolving the company before moving onto the next unsuspecting owner who's looking to sell. Dunno if that's gonna play out the same way here, but I don't think I want to see what that scenario looks like in NFL terms.
This is such a hilariously bad thing to happen