Relaxed rules mean owners from pro leagues in NFL markets, like Steve Ballmer, could bid for football teamsNBAE/GETTY IMAGES
NFL owners voted yesterday at the league's fall meeting to "lift the longstanding cross-ownership prohibition, meaning they are now free to own a different professional sports team in cities that have an NFL team," and the change "could have a significant impact on the sports landscape," according to Sam Farmer of the L.A. TIMES. One of the main reasons the rule was put in place was so that fellow NFL owners were "not pitted against each other and competing for the same sports dollar." But many owners believe those reasons had "outlived their usefulness, and that the NFL is capable of standing on its own." NFL teams have also "gotten so expensive" that the "universe of people who can afford them is minuscule." A controlling owner "must have a minimum of 30% equity in a team, and there are firm debt limits in place, so those owners have to have piles upon piles of money." The NFL "doesn't allow corporations to own teams." When the Panthers were put up for sale, there "reportedly were some NBA owners interested in the team who couldn't participate in the bidding because of NFL rules." Following the passing of Seahawks Owner Paul Allen, if the team "were to go up for sale at some point, the NFL's lifting of the cross-ownership restrictions could pave the way for a potential buyer" such as Clippers Owner Steve Ballmer. With the "relaxing of the rules, current NFL owners are free to go baseball, basketball or hockey shopping in other markets" (L.A. TIMES, 10/17).
