NFL owners approved private equity underwriters (PEU) can now hold up to 10% of any team. The same PEUs that jacked up your workplace, rent you an overpriced single family dwelling, contribute to grossly overpriced healthcare services and are the behind the scenes owner of your exploding insurance costs can now profit alongside your favorite football team's owner.
PEU money will be used to renovate luxury suites in publicly supported stadiums, so those same PEUs can occupy those suites or rent them out for an absurd amount. Note: No one is talking about this money going back to the taxing entities that subsidized the team's stadium. practice facilities or development around those very sites.
Should these PEUs flip their stakes at some future date the taxes they pay on those profits will be at preferred "carried interest" rates. Despite two decades of public outcry the political Red and Blue teams have yet to get together to eliminate this widely hated PEU tax break.
Look for NFL approved PEU logos at a stadium near you. I just hope the PEU on your favorite team's hat isn't the one that fired half your department after they purchased your employer. That would cause some serious cognitive dissonance, which would be bad if that same PEU was trying to get you to buy their LP stakes for your retirement fund.
It's a crazy, mixed up PEU world where the greed and leverage boys continue to win. The barbarians took over European football (soccer) some time ago. The PEU gates are now open at American football. Sad, actually.
Fans, watch out for any PEU owners slinging backwash. I hope luxury suite redesigns take into account ways to protect paying fans sitting just below.
Update 9-8-24: A news story reported:
"the NFL also informed teams it will take a cut of private equity profits on sales of ownership stakes."
The PEU boys made the NFL into an LP (for free) or the league is now a taxing entity.
