The NFL has always been a league of big personalities and even bigger egos, but it was the Jones family that truly brought the glamour and spectacle to the sport. When Jerry Jones took over the Dallas Cowboys in 1989, he and his family transformed the franchise into a national phenomenon, with the Cowboys Cheerleaders, the Star-Spangled Banner, and a winning culture that has defined the franchise for decades. The Jones family's ownership of the Cowboys was a defining moment in NFL history, setting the stage for the league's current success and popularity.
However, on Tuesday, it was announced that the Jones family had entered an agreement to sell the Cowboys to a group led by Stephen C. Ross, CEO of Wintrust Financial Corporation, for a record-breaking $4.65 billion. Jerry Jones will continue to serve as chairman and CEO of the team, while the new ownership group will bring a fresh perspective and resources to the franchise. While this sale feels like the end of an era, it's also a sign of the changing landscape of NFL ownership.
In recent years, the NFL has seen a shift towards larger and more powerful ownership groups. Venture capitalists, private equity firms, and even sovereign wealth funds have become involved in owning NFL teams. The average NFL franchise value is now $3.5 billion, according to Forbes, and the record-breaking sale of the Cowboys only further solidifies this trend. The New York Giants and Green Bay Packers, two of the league's most iconic franchises, have both found new owners with deeper pockets than their previous owners.
The sale of the Cowboys also highlights the fact that many NFL teams operate as tenants in stadiums rather than owning their own buildings. Despite this, their values continue to break records, showing that the league is still a smart business investment. The Mara family remains one of the original ownership groups still in place with John and Steve Mara running the New York Giants. However, it's highly unlikely that they will ever sell the team, given their significant investment in New York City over the past 50 years.
As time has moved on, the NFL has looked and felt just a little different. The league is now dominated by larger ownership groups with deeper pockets and a focus on maximizing profits. While some fans may feel disappointed by the changes in ownership and the increasing focus on business over football, it's important to remember that the Jones family's ownership of the Cowboys changed the game forever and set a new standard for how we view sports as entertainment.
