Getty Images/Wesley Hitt
Jerry Jones Early Life
On October 13, 1942, in Inglewood, California, Jerry Jones was born. His family soon moved to Little Rock, Arkansas where he would go on to be a star football player in high school and co-captain of his team at the University of Arkansas. Jerry has no significant background in sports or sports management except from these experiences. He was, nevertheless, a natural at business and knew how to close transactions.
How wealthy? Rich enough to be given the chance to spend $5.8 million on the San Diego Chargers in 1967. That is equivalent to almost $45 million today. So why does Jerry still own the Cowboys rather than the Chargers today? Because his father told him it would be a terrible investment!
That would have been a really wise investment, it turns out. Today the Chargers are worth $3 billion.
Most Valuable Team In The World
The Cowboys were essentially Jerry’s consolation gift, as we previously discussed. However, he acquired ownership in 1989 for a total cost of $140 million. Those early years were somewhat difficult.
The hate dissipated after he hired then-Miami Hurricanes head coach Jimmy Johnson, but came back when his ego got in the way of the team’s success and led to Johnson leaving the team after back to back Super Bowls. After Johnson left, the club did go on to win another Super Bowl, but ever since then, they have consistently played below average.
And despite having a losing record, the Cowboys still lead the league in yearly revenue with $800 million, with about $300 million of that amount going toward profit.
In addition, despite what you would believe about NFL teams, turning a profit of any kind is actually a difficult feat. Twenty of the 32 teams in the league lose millions of dollars annually. For instance, the Los Angeles Chargers and San Francisco 49ers both lost more than $45 million during their final season of play.
One last FYI
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