Dallas Cowboys proprietor Jerry Jones insists that he didn’t “get into nan NFL for money”, though he’s made rather a spot of it by purchasing nan Cowboys.
The motivations down becoming an NFL proprietor range, from lifelong New England Patriots instrumentality Robert Kraft buying nan team to support it successful nan region to a divers Denver Broncos ownership group looking to bolster their finance portfolios.
Even pinch superfans for illustration Kraft and precocious Seattle Seahawks proprietor Paul Allen purchasing franchises, buying an NFL squad is hardly a charitable act. Modern-day NFL owners are billionaires seeking to boost their fortunes, and buying an NFL squad is simply a definite measurement to exponentially turn wealth.
When Dallas Cowboys proprietor Jerry Jones elaborated connected his ain motivations for his 1989 acquisition of nan team, he claimed that money was not a facet successful his decision.
“I didn’t get into nan NFL for money,” Jones said via CBS Sports’ Jonathan Jones. “I had immoderate and gave it each up — positive a batch that I didn’t person — to beryllium a portion of nan Cowboys.”
Jerry Jones: "I didn’t get into nan NFL for money. I had immoderate and gave it each up — positive a batch that I didn’t person — to beryllium a portion of nan Cowboys."
— Jonathan Jones (@jjones9) May 22, 2023
As owner, president and wide head of nan team, Jones has made it clear that he thrives connected directing America’s Team, but nan entrepreneur was afloat alert that owning nan Cowboys would beryllium a savvy business venture. Spending nan balanced of astir $300 cardinal successful 1989, Jones now has a multi-billion dollar nett worth thanks to his Cowboys ownership.
A 1964 National Champion violative lineman for nan University of Arkansas, Jones genuinely did want to get progressive successful nan business of shot — but he besides wanted to usage squad ownership to create innovative opportunities for financial growth.
Jerry Jones nett worth: How did Cowboys proprietor gain his fortune?
The boy of Pat and Arminta Jones, Jerry’s family built their wealthiness done business guidance from nan 1940s to 1970s. First, nan Jones owned 2 branches of Pat’s Super Market successful Little Rock, Arkansas, aft which they moved to Springfield, Missouri. There, Pat Jones became nan president and president of Modern Security Life Insurance Co., wherever Jerry served arsenic nan executive vice president upon assemblage graduation.
While his parents provided him pinch a occupation opportunity aft college, Jones ventured retired arsenic an entrepreneur, trying and failing pinch his first respective ventures. Before Jones worked for his father, he took a $1 cardinal indebtedness to unfastened a drawstring of Shakey’s Pizza Parlor restaurants successful Missouri. Jones moreover tried to buy nan San Diego Chargers successful 1966, which undermines his assertion that he solely bought nan Cowboys based connected fervent fandom.
Finally, Jones turned to nan lipid and state manufacture and struck “black gold” by founding Jones Oil and Land Lease. “Jones would onslaught lipid connected 13 of his first 13 lipid drillings, becoming an instant occurrence successful nan industry,” according to MoneyInc.
Benefitting from taxation laws and nan 1974 Arab Oil Embargo, Jones’ profits soared done nan 1970s. By 1989, he was capable to onslaught up a woody pinch Cowboys proprietor H.R. Bright, who had knowledgeable important losses done owning nan team. Jones purchased nan Cowboys for $140 cardinal astatine nan time, and to his credit, nan Cowboys were not nan juggernaut marque they are today. Jones deserves in installments for turning Dallas, and nan NFL arsenic a whole, into a much profitable venture.
Cowboys valuation: How did Jerry Jones move nan squad and NFL financial business around?
Always an outspoken NFL owner, Jones kicked disconnected his ownership by taking connected nan NFL and its measurement of divvying up merchandise income successful nan precocious 1980s. At nan time, merchandise profits were divided arsenic among each 30 NFL teams, yet nan Cowboys accounted for 25 percent of sales. Taking advantage nan Cowboys brand, Jones signed stadium sponsorship deals pinch Nike and Pepsi, moreover though nan NFL sponsored Coca-Cola. The NFL tried to writer Jones, but Jones emerged nan victor and earned millions of dollars for his caller franchise.
Jones has made millions for nan Cowboys and different master sports teams by pioneering trends done firm sponsorship. Jones is credited pinch bringing sponsored seats to NFL stadiums, and his stadium naming woody pinch AT&T has brought successful an estimated $20 cardinal per year.
Because of Jones’ efforts, nan Cowboys are now worthy astir $8 billion successful 2023. According to KXAN, nan Cowboys besides person nan highest game-day attendance successful nan NFL pinch 86,000 journeying to AT&T stadium for location games. “The Cowboys person a immense yearly gross which exceeds $1 cardinal and a $162 cardinal payroll, which has accrued to $214 cardinal successful 2023,” KXAN reported.
While Jones is nan biggest Dallas Cowboys instrumentality successful existence, he has besides utilized his beloved franchise and its powerful marque to grow his individual wealthiness into nan billions.