The NFL is known for making sure franchise ownership is kept tightly controlled as evidenced in past years by forcing owners to turn over teams, as with Eddie DeBartolo, or banning the public from ownership in response to the Green Back Packers situation. Now a new worry is on the horizon as the Ford family, owners of the Detroit Lions, have had questions raised about the succession plan in place for the team following the death of longtime owner William Clay Ford. His son was expected to assume ownership but it instead shifted his 90 year old wife who now operates the franchise. Publicly, reassurance has been made that the Ford’s will be financially capable of continued ownership but recent troubles with the multiple heirs of Titans owner Bud Adams has some worried. But the Ford family should avoid the problems of other teams since they are wealthy independent of the team’s value which should allow them to avoid any tax induced sales.
See Michael David Smith, Lions say Ford family has a succession plan in place, NBC Sports, February 21, 2016.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
