First Black NFL team owner?

Fegwu · Feb 16, 2005

Sorry if this has been posted alread....

Fowler, McCombs strike a deal

Jay Weiner, Star Tribune
February 15, 2005

Reggie Fowler, self-made, soft-spoken and serious, took his first major step Monday toward buying the Minnesota Vikings and making NFL history.

The one-time college linebacker delivered a $20 million down payment to Red McCombs as part of an approximately $625 million deal.

With McCombs at his side at a news conference at Vikings headquarters in Eden Prairie, Fowler declared confidence that he and three partners from New York can gain the necessary approval from the NFL this spring.

"We would not be here today if we did not have the ability to make the transaction," Fowler said, attempting to quash skepticism about the size of his personal wealth.

He stated, "No," when asked if there was any scenario in which he could imagine moving the Vikings out of Minnesota, although he acknowledged, "All I know about Minnesota is what I've read about Minnesota."

Fowler called Monday "probably the greatest day of my life" and noted the historic nature of the pending purchase: If he passes muster with the NFL's Finance Committee and then the other NFL owners, he would become the league's first black owner.

"As James Brown said, 'Say it loud, I'm black and I'm proud,' " he said. "[But] that doesn't really play a big part to me."

Turning to McCombs, Fowler quipped, "He did not discount the price" because of race; it's the third-highest price ever paid in an NFL sale.

Kevin Warren, Fowler's lawyer, speaking of the possibility of a black owner in the NFL, said, "It has social implications. But this is a pure business decision. This is about a pure love of football."

The NFL, in a statement, said that Fowler has met several times with its staff and met Saturday with Commissioner Paul Tagliabue.

The league said its Finance Committee, chaired by New Orleans Saints owner Tom Benson, will review Fowler's financial data at its March 9 meetings.

Chart: $625 million deal on the tableThe committee will then prepare a report for the full NFL ownership at its league meetings March 20.

Still, the brief and controlled news conference raised as many questions as it answered.

Pressed to detail the purchase price, Fowler declined.

Pressed to quantify his wealth, a key fact as the approval process goes forward and if he owns the team, Fowler declined. He will put at least $150 million into the deal to be general partner.

"Mr. McCombs is a very shrewd businessman," Fowler said, implying that this process wouldn't have gone this far without McCombs believing in Fowler's ability to pay.

Fowler added, "My kids think I'm worth a lot."

Fowler, founder of Spiral Inc., listed as the 11th-largest black-owned company in the nation, declined to name his partners.

But the Star Tribune has learned his limited partners would be New York-area real estate investors Alan Landis, a former partner in the New Jersey Nets, Zyggi Wilf and David Mandelbaum.

McCombs said the main reason he is selling the team is because of his inability to get a new stadium built.

But Fowler declined to discuss the stadium issue.

"We've thought about it, but we're not going to talk about it," he said.

Pressed on the matter, Fowler said of a new stadium, "We think it's important, but we want the focus to stay on just acquiring the team. We think we don't have a right to talk about a stadium until we acquire a team."

With spare words and reluctance to reveal much, Fowler appeared coy, but assured, with a certain shyness.

"I plan to move here," he said. "I plan to become part of your community, your state."

Warren, a former executive with the Detroit Lions and St. Louis Rams, described Fowler as "intense, driven, ethical, hard-working, a winner."

Glen Taylor, the Timberwolves owner, who has wanted to own the Vikings since 1998 and who made another bid recently, said from his Mankato office that "one has to assume that it's over. At this point, I just want to congratulate Reggie."

Taylor said if Fowler stumbles in the approval process, he would still be interested in buying the Vikings.

McCombs will walk away from his Vikings' ownership a half-billion dollars richer than when he bought the team in 1998.

With annual operating profits, proceeds from the sale of the Vikings Food Service ($20 million) and payments from NFL expansion to Cleveland and Houston (a total of about $35 million), plus the potential franchise appreciation of $375 million, it looks like a net gain of about $500 million for the San Antonio car salesman and communications mogul.

Clearly, Fowler and McCombs have developed a warm rapport. Their bond was obvious during a cute exchange early in the news conference.

Amid the hot glare of the TV lights and perspiration forming on Fowler's shaved head, McCombs grabbed a towel and gingerly sponged the moisture from the buyer's skull.

Minutes later, Fowler nonchalantly returned the favor, playfully mopping the seller's forehead.

But, in the end, both men contended they're not sweating one bit about whether their deal will reach a successful closing sometime soon.

Jay Weiner is at jweiner@startribune.com.

Black leaders praise, caution Reggie Fowler
Click to expand...

Black leaders praise, caution Reggie Fowler

Fegwu · Feb 16, 2005

Sorry here is the link...

Fowler, McCombs strike a deal

isoman2kx · Feb 16, 2005

definitely black.

Lil Pun · Feb 16, 2005

LATE!!!

IROC it · Feb 16, 2005

He's also a liar. Just heard on ESPN radio that his Bio's claim of NFL, CFL, and little league worlds series at age 11, and a degree from Univ. of Wyoming (or something) WERE ALL MADE UP.

Perfect owner for Moss. Maybe he can get Canseco to be his PR man.

EDIT: Here's the link to the MADE UP CRAP on his bio....

http://www.azcentral.com/sports/cardinals/articles/0216fowler-factsheet-ON.html

MR. MEOWGI · Feb 16, 2005

Oh, he'll get a stadium...in L.A.

moligity · Feb 16, 2005

Just curious, why is there a question mark in the thread title? Is it whether he's black or whether he's an NFL team owner?

IROC it · Feb 16, 2005

Originally posted by isoman2kx
definitely black.
Click to expand...

I think he answered your initial question.

moligity · Feb 16, 2005

Originally posted by IROC it
I think he answered your initial question.
Click to expand...

Oh, very good then.

Fegwu · Feb 16, 2005

Originally posted by moligity
Just curious, why is there a question mark in the thread title? Is it whether he's black or whether he's an NFL team owner?
Click to expand...

Because the deal is not done yet. There is a possibility that it can fall through. I believe they are waiting for final approval by other owners - and as we know in life nothing is really done until it is done & sealed.

SwoLy-D · Feb 17, 2005

Originally posted by moligity
Just curious, why is there a question mark in the thread title? Is it whether he's black or whether he's an NFL team owner?
Click to expand...

Damnit, who put a question mark in the thread title? You know Ron Burgundy reads EVERYTHING on the teleprompter!

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