An old adage once stated if you wanted to wind up with a million dollars, you should buy a a sports team and start with $2 million.
Those days are long gone. Franchise ownership can generate enormous wealth, as evidenced by the New England Patriots, whose $6.4 billion value was second in all of pro sports, according to Forbes magazine.
Since quarterback Tom Brady’s departure, the Patriots are 17-18. That didn’t stop Robert Kraft’s franchise from jumping six spots in value.
They now trail only the Dallas Cowboys, who haven’t won a Super Bowl since 1995, but are worth $8 billion.