Falcons Owner & Chair Rankin Smith Sr. died in Atlanta
yesterday at the age of 72. In Atlanta, Len Pasquarelli
writes that Smith "was remembered by colleagues Sunday as a
visionary who pioneered the rise of professional sports
franchises in the South," and remained one of the few
"'family' stewards in a sport in which corporate ownership
has increased." Smith, who purchased the Falcons in '65 for
$8.5M, was regarded around the NFL as a "mainstream" owner
who "rarely bucked the agendas of commissioners ... and
generally placed the good of the league above that of the
Falcons" (ATLANTA CONSTITUTION, 10/27). Soto & Payne write
that Smith "was the driving force behind the construction of
the Georgia Dome," and was "credited" with bringing two Super
Bowls games to Atlanta (ATLANTA CONSTITUTION, 10/27).
TEAM'S FUTURE: Pasquarelli also reports that "there were
no signs" on Sunday that Smith's death "would result in the
sale" of the team. Smith said recently that he had purchased
several high-premium insurance policies "to assist his heirs
in dealing with the sort of estate tax problems that have
plagued other franchises" (ATLANTA CONSTITUTION, 10/27).
