Rich people get far more free stuff than people who aren’t.
Consider this sweetheart deal that Raiders owner Mark Davis is trying to give Tom Brady. For $175 million, Brady will own 10 percent of the team.
While, yes, that’s still $175 million, the price translates to a valuation of $1.75 billion. The Raiders are worth FAR more than that.
Via Ben Volin of the Boston Globe, Colts owner Jim Irsay addressed specifics on Wednesday when discussing Brady’s sputtering effort to buy a large chunk of the Raiders.
“If reasonable value says . . . that 10 percent should be $525 million, you can’t pay $175 million,” Irsay said.
Volin adds that Brady’s looming job with Fox is also an issue. When word of Brady buying a piece of the Raiders first surfaced, others reported that Brady’s connection to Fox was a non-issue.
Still, $175 million for 10 percent seems to be a non-starter. And for good reason. It hurts other owners if equity in any team is going for far less than the equity is worth.
