Benson hits Forbes Billionairies list (1 Viewer)

[Zack Lee]

What do Tom Benson, Bill Gates and Warren Buffett have in common? All were named to Forbes’ new list of the world’s billionaires, unveiled Monday. The New Orleans Saints and Hornets/Pelicans owner is listed with a net worth of $1.2 billion.
Benson is the only Louisianan to make the Forbes list, ranking 377th among Americans and 1,175th overall. In September, the magazine and its web site also named Benson to their 400 Richest Americans list.

WWL Benson Forbes article

He has come along way since buying the Saints for 70 mil.

Forbes Fact page

 

[DaveXA]

Good for him. He's come a long way from "Git offa mah propity!" Heh.

 

[DesertKajun]

Congrats to Benson, well earned and I can only hope one of my boys hooks up with one of his great grand daughters.....

 

[Saint_Ward]

WWL Benson Forbes article

He has come along way since buying the Saints for 70 mil.

Forbes Fact page

To put that in perspective, that 70Mill in 1985 would be around $150M in today's dollars. The team is valued at $955M. Big money!

 

[DaveXA]

To put that in perspective, that 70Mill in 1985 would be around $150M in today's dollars. The team is valued at $955M. Big money!

I'm surprised it hasn't cracked the billion mark yet. I thought it already had at some point.

 

[d3cyph3r]

What's an extra 50 million i'm sure it might as well be a billion.

 

[GrandAdmiral]

Not to get too off topic, but wasn't Gary Chouest listed as a billionaire not too long ago when he was rumored as buying the Hornets before Benson? I guess the oil spill took a bigger hit than everyone else suspected.

 

[Zack Lee]

and yet I can't wrap my head around us still being ranked 23rd in team values?

even within our division, how are the Panthers and Bucs worth more than New Orleans and Atlanta?

Football's Most Valuable Teams List - Forbes

 

[Nutria]

Wow, just think how much he could have made in San Antonio . . . since he was having such a hard time making a buck here.

 

[LSSpam]

Congrats to Benson. He deserves it.

What he did, in regards to San Antonio and post-Katrina, still rubs a little raw, even 7 years and a Super Bowl later. But we're actually fortunate to have had him as an owner. Unlike many owners, he has neither treated the franchise as a credit line to mine for money for other things, nor on the other extreme as a toy and vanity project that exists for his self aggrandizement.

He has reinvested constantly back into the Saints, with "real money" outlays on par for football operations with the Redskins and the Cowboys. He's treated it as if it were the single most important business enterprise he has (which it is now) and acted as such, spending big money to hire smart people to make smart business decisions and a quality product.

As remarkable as the Saints fans are, the viability of this franchise in the current climate should be significantly more in question. It's not. And now that he's turning around and investing in the Hornets, hes developing "synergy" and showing real commitment to continuing to make "sports in New Orleans" his first commitment.

Whatever you want to say about the man, in the end we have been VERY fortunate to have him as our owner, as opposed to many others.

 

[LSSpam]

and yet I can't wrap my head around us still being ranked 23rd in team values?

even within our division, how are the Panthers and Bucs worth more than New Orleans and Atlanta?

Football's Most Valuable Teams List - Forbes

"Value" is a pretty amorphous term.

The Saints are like 16th in revenue, tied for 9th in lowest debt ratios, which ostensibly makes this a very valuable franchise. It makes decent money and carries very little debt.

But, the Saints spend a lot of money. Not just in terms of player salaries either. Tampa actually is more profitable because their football operations just don't cost as much. The Glazers basically use the franchise as an ATM.

Plus, perhaps more importantly (though the above figures in), the Saints are "tapped out" in growth potential. The franchise, given the market, is run as efficiently as can be expected. As profitable as it is, there's not a lot of room for growth. The Jets for instance, as they pay down debt, as they further tap into their market, become more successful, etc, could grow revenue significantly (they don't really make that much more then the Saints currently at the moment). That makes them "worth" a lot more because, in theory, with more competent management they could make a lot more. The Saints and the New Orleans market however, as noted, is basically fully saturated.

The franchise is very secure, it's a well run profitable franchise without a lot of debt to service. You can, as Benson has obviously done, make a lot of money. But it doesn't have explosive growth potential.

 

[LSSpam]

It's sort of like the 24 hour family diner in a small town verses the latest downtown trendy restaurant. You're not necessarily going to make a ton of money off the small diner, but the equipments bought, property paid for, land values low, and clientele stable and loyal. You aren't going to lose your shirt either. But the hot spot, that's what everyone dreams of.

 

[nolaspe]

Anyone else not bothered by this?

"Two members of the family that own the newspaper and its parent company, Advance Publications, also make the Forbes list. Donald Newhouse is listed with a $7.3 billion net worth and his brother Samuel “S.I.” Newhouse ranks higher with $8.1 billion. The Times-Picayune changes make up a good portion of Forbes’ profile of Donald Newhouse, who leads Advance Publications’ newspaper division."

They essentially kill the paper and make a killing off of it...

 

[Slurp]

Wonder if the price of dome foam will go down?

 

[Domefan504]

Did I read that stat right?

#21 New Orleans Saints - Forbes.com

National TV ratings rank⁹1

We overtook Dallas for TV rank?


Thank you Tom Benson!

 

[SAINTSFAN]

Not to get too off topic, but wasn't Gary Chouest listed as a billionaire not too long ago when he was rumored as buying the Hornets before Benson? I guess the oil spill took a bigger hit than everyone else suspected.

No, I do not think he was listed (as his company is private and financial information not disclosed), but it was assumed he was worth that much.