When Will Foreign Ownership of US Sports Teams Start ?
Also see: Publishing: Good reviews, bad reviews, and hurting oooh so many feelings.
For a while there, it looked like North American sports teams owners were going to take over European Soccer. The biggest Premiere League names were getting bought up. Then a funny thing happened. The US Dollar turned upside down against major currencies making deals that once looked tenable, all of the sudden seem very, very expensive.But as is the nature of currency exchange, for every Yin, there is a Yang, or in this case an Abramovich or any number of wealthy Europeans or Russians who are coming to the US in search of bargains. Of course there are also the exploding number of Chinese Billionaires with global aspirations as well.
A quick trip to NYC to shop for currency induced bargains need not stop on 5th or Madison Ave. It is just a matter of time, and maybe not much of it, before we start to see our sports teams gobbled up. With the international
flavor of both the NHL and NBA, is there a better way to “mainstream” a person, product or service into the US than through the purchase of a sports franchise ?
With the lack of Salary Cap of MLB, why couldn’t or wouldn’t an ultra Wealthy (as in guys or girls who make me look poor) Sports Fan take advantage of the fall in the value of the dollar and come in and buy an Iconic or even mid market franchise and spend spend spend ?
With the price of NFL franchises now past a billion dollars with half the Dolphins apparently selling for more than 550mm, how many individuals in this country that don’t already own a franchise actu (more…)
