LeBron or Art
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Raking that muck pile just one more time 🥷
Super Bowl XXXVEdit
In 2000, the Ravens, under the coaching of Billick, qualified for the postseason for the first time, winning the AFC Wild-Card position with a 12–4 record. (Tennessee won their division that year.) Led by a stingy defense anchored by team captain and NFL All-Pro middle linebacker Ray Lewis, and quarterbacked by former Pro-Bowler Trent Dilfer, they would go on to defeat the NFC Champion New York Giants in the Super Bowl, 34–7. Shortly after the Super Bowl XXXV victory, Modell handed the reins of the day-to-day operations of the team over to his son, David. The Ravens qualified again for the postseason in 2001 as defending Super Bowl Champions, and once more in 2003, winning their first division title. The Ravens' regular season record during Modell's tenure as team owner stands at 72–63.
Community involvement in Baltimore areaEdit
Modell and his wife, former television actress Patricia Breslin, donated millions of dollars to a variety of charities, most notably the SEED School, a boarding school being developed in Baltimore for disadvantaged youth; Johns Hopkins Hospital; Kennedy Krieger Institute; St. Vincent's Center, a home for abused children; and the House of Ruth, a domestic violence center. Modell received the Generous Heart Award from the Dr. Ben Carson Scholarship Foundation, given annually for excellence in the community.
Ravens sold to minority owner BisciottiEdit
Despite a no-cost stadium lease, all revenues from parking, concessions, and TV, as well as a reported $25M per year Maryland subsidy, Modell's ownership of the Ravens resulted in continual financial hardships for the team. In late 2002 the NFL took an unusual step and directed Modell to sell his franchise, and in 2003, Modell sold the Ravens to minority owner, Maryland businessman Steve Bisciotti. Under the deal, Modell retained a small interest (approximately 1% share) upon the team's sale as a legal maneuver to avoid a claim by the Andrews trust, which was controlled by family of a former business adviser who sought to collect an estimated $30 million finder's fee upon Modell's sale of the team. The Andrews trust essentially claimed that under a 1963 agreement, Modell owed a finder's fee for his original purchase of the team which was to be paid when Modell sold his entire interest. In July 2005, Modell prevailed in court and defeated the Andrews trust's claim. At the time of sale the franchise's worth was estimated at approximately US$600 million.<-----and other tax ramifications!
Soon after Modell moved the franchise to Baltimore in 1996, he had sold a small minority interest to Bisciotti. After owning the NFL franchise for 44 seasons, Modell sold controlling interest of the team to Bisciotti, citing ill health. However, Bisciotti had the option to buy the team fully in right (approximately 99%) until March 2004, this upon becoming a minority owner (about 45%) outright in 1999. Bisciotti exercised his purchase option in January 2004. Modell retained his 1% share and an office at the Ravens' headquarters in Owings Mills, Maryland as a team consultant.[10]
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So, the Modell family owns about as much of the Ravens as any citizen of Green Bay owns of the Packers.
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So, the Modell family owns about as much of the Ravens as any citizen of Green Bay owns of the Packers.
So, the Modell family owns about as much of the Ravens as any citizen of Green Bay owns of the Packers.
They'd have to be very wealthy Packer shareholders Gip. IIRC most GB fans only own a share (or two) and have them proudly framed on the wall. LOL, you bad at math? 1% of $600 million is still $6 million. BTW, that was an old article, Forbes put the current value of the Ravens at $1.9 billion. So make that $19 million for the Modell family. I could live on that fer sure.
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So, the Modell family owns about as much of the Ravens as any citizen of Green Bay owns of the Packers.
They'd have to be very wealthy Packer shareholders Gip. IIRC most GB fans only own a share (or two) and have them proudly framed on the wall. LOL, you bad at math? 1% of $600 million is still $6 million. BTW, that was an old article, Forbes put the current value of the Ravens at $1.9 billion. So make that $19 million for the Modell family. I could live on that fer sure.
They'd have to be very wealthy Packer shareholders Gip. IIRC most GB fans only own a share (or two) and have them proudly framed on the wall. LOL, you bad at math? 1% of $600 million is still $6 million. BTW, that was an old article, Forbes put the current value of the Ravens at $1.9 billion. So make that $19 million for the Modell family. I could live on that fer sure.
OK....so, maybe you know this: How many shares of Green Bay Packer stock have been issued to the people of Green Bay......and what would each stock certificate be valued at?
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Here is this blurb:
The Packers stock is but one element of its unique organization. Founded in 1919 but with roots going back to the origins of American football, the team operates as a publicly held nonprofit company. NFL rules don’t allow other franchises to use the Green Bay model, and Green Bay is the smallest city hosting a major team (2010 population: 104,057).
In 1950, to save the franchise and keep it in Green Bay, shareholders—mostly residents—bought 4,700 shares at $25 each, with a limit of 200 per investor. In 1997, before the last sale, there was a 1,000-to-one stock split. The current prospectus says two shareholders own 200,000 shares each, but Popkey declined to identify them.
In addition, the Packers’ Articles of Incorporation specify that if the team is dissolved, “all profits and assets” must go to community programs and charities. Until 1997, the sole beneficiary was one American Legion post in Green Bay. Since then it has been the Green Bay Packers Foundation, which benefits a number of local and state causes.
So meager are the monetary benefits of owning Packers’ stock that Willens, the tax expert, thinks a purchase might be tax-deductible right after shares are bought. “They meet the conditions of worthless stock, in that it has no pecuniary value for the owner,” he says. “Better a small tax benefit than none at all.”
Ed Kleinbard, a former top tax staffer in Congress who’s now a professor at USC’s law school, is an Oakland Raiders fan but he disagrees about the tax deduction. “The stock isn’t worthless as long as someone will buy it, although I wouldn’t,” he says. “Maybe it’s a collectible.”
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"You planning on having a long relationship with that glass or are you going to drink it? Drink up, man. Maybe we can get another.” - Janis Joplin, 1970.
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But the city gave Elvis, the Cav's and the Tribe a new stadium....none for him. So he left (which is, of course, unforgivable). The city was then told by the league, "If you wanna team, then build a new stadium". So they DID! Isn't the stadium great?! No?!
This isn't true, you may want to do some research into that statement.
This isn't true, you may want to do some research into that statement.
What, like I didn't live through it?
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This isn't true, you may want to do some research into that statement.
What, like I didn't live through it?
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Not growing up in the Kenmore section of Akron, not, he is no Illuminati.
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Doesn't matter where you grow up.
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Here is this blurb:
The Packers stock is but one element of its unique organization. Founded in 1919 but with roots going back to the origins of American football, the team operates as a publicly held nonprofit company. NFL rules don’t allow other franchises to use the Green Bay model, and Green Bay is the smallest city hosting a major team (2010 population: 104,057).
In 1950, to save the franchise and keep it in Green Bay, shareholders—mostly residents—bought 4,700 shares at $25 each, with a limit of 200 per investor. In 1997, before the last sale, there was a 1,000-to-one stock split. The current prospectus says two shareholders own 200,000 shares each, but Popkey declined to identify them.
In addition, the Packers’ Articles of Incorporation specify that if the team is dissolved, “all profits and assets” must go to community programs and charities. Until 1997, the sole beneficiary was one American Legion post in Green Bay. Since then it has been the Green Bay Packers Foundation, which benefits a number of local and state causes.
So meager are the monetary benefits of owning Packers’ stock that Willens, the tax expert, thinks a purchase might be tax-deductible right after shares are bought. “They meet the conditions of worthless stock, in that it has no pecuniary value for the owner,” he says. “Better a small tax benefit than none at all.”
Ed Kleinbard, a former top tax staffer in Congress who’s now a professor at USC’s law school, is an Oakland Raiders fan but he disagrees about the tax deduction. “The stock isn’t worthless as long as someone will buy it, although I wouldn’t,” he says. “Maybe it’s a collectible.”
Here is this blurb:
The Packers stock is but one element of its unique organization. Founded in 1919 but with roots going back to the origins of American football, the team operates as a publicly held nonprofit company. NFL rules don’t allow other franchises to use the Green Bay model, and Green Bay is the smallest city hosting a major team (2010 population: 104,057).
In 1950, to save the franchise and keep it in Green Bay, shareholders—mostly residents—bought 4,700 shares at $25 each, with a limit of 200 per investor. In 1997, before the last sale, there was a 1,000-to-one stock split. The current prospectus says two shareholders own 200,000 shares each, but Popkey declined to identify them.
In addition, the Packers’ Articles of Incorporation specify that if the team is dissolved, “all profits and assets” must go to community programs and charities. Until 1997, the sole beneficiary was one American Legion post in Green Bay. Since then it has been the Green Bay Packers Foundation, which benefits a number of local and state causes.
So meager are the monetary benefits of owning Packers’ stock that Willens, the tax expert, thinks a purchase might be tax-deductible right after shares are bought. “They meet the conditions of worthless stock, in that it has no pecuniary value for the owner,” he says. “Better a small tax benefit than none at all.”
Ed Kleinbard, a former top tax staffer in Congress who’s now a professor at USC’s law school, is an Oakland Raiders fan but he disagrees about the tax deduction. “The stock isn’t worthless as long as someone will buy it, although I wouldn’t,” he says. “Maybe it’s a collectible.”
We'd have to dig up how many shares are outstanding. If it's 5 million and the Packers are worth a billion, each share would be worth $20. Not exactly a penny stock.
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