Photo, above: San Francisco 49ers stadium. OUCH!
I wonder what it is like to own an asset that was worth $1 billion a few months ago that is now worth $200 million, and you owe $400 million on it, and you probably can’t sell it because operating expenses are $100 million while revenue is $50 million?
I don’t know and I never want to find out! One thing is certain, it can’t be a comfortable feeling.
Such is the situation the NFL team owners have put themselves in by catering to the millionaire crybabies they have made rich beyond their wildest dreams, and who don’t care that the owner is losing his or her ass. You contracted them for X million dollars, and they expect to get it. They don’t care if they play in front of no one, just so long as the owner keeps writing those checks.
Take a look at stadiums across the league Sunday (11/5). What a terrible lesson the owners are learning. Is it too late to salvage their cash cow? (take our poll at the bottom of the article)
San Francisco – Wow! Many, many more empty seats than full seats
New York Giants
Jacksonville – not a very clear shot, but I think you can see as many or more empty seats as full seats