Super Bowl's Real Winners? Team Owners
CREDIT: Football image via Shutterstock
While most people focus on the players and the matchup between the Baltimore Ravens and San Francisco 49ers in Super Bowl XLVII, win or lose, it's really the team owners who benefit from the exposure their teams will get from playing in the Super Bowl. So who are the business owners behind the two teams?
They are Steve Bisciotti, owner of the Baltimore Ravens, and Jed York, CEO of the San Francisco 49ers.
Both men have a big stake in the game, especially considering how much a Super Bowl victory can mean to a franchise. Here is a look at how they came to own their teams.
Net Worth: $1.6 billion according to Forbes.
Bisciotti, a self-made billionaire, made his fortune in the temporary help and staffing industry. At the age of 23, Bisciotti and his cousin started Aeortek, a company that provides staffing to aerospace and technology companies. Aeortek grew from a company with two employees, two clients and $1.5 million in sales in its first year to become the largest privately held staffing firm in the United States, Forbes says. The agency has since become the Allegis Group, which has 8,000 internal employees and 90,000 contract workers.
Bisciotti, the second-youngest owner in the National Football League, bought a minority share in the Ravens in 2000 from former owner Art Modell. In 2004, Bisciotti became majority owner.
Net Worth: Unknown
Jed York is a part of the family that has owned the San Francisco 49ers since the late 1970s. His mother, Denise DeBartolo York, the daughter of real estate magnate Edward DeBartolo Sr., co-chairs the team along with her husband, John York. Forbes estimates her net worth at $1.1 billion. The family's wealth comes from real estate; York's grandfather built the Edward J. DeBartolo Corporation into one of the largest real estate companies in the United States, which owned many shopping centers in the country. York's uncle Edward DeBartolo Jr. took over the business after his grandfather's death in 1994 and helped merge the company with Simon Property Group in 1996, creating the largest real-estate investment trust in North America, Forbes says.
Jed York took over as president and CEO of the 49ers in 2008. He has since relinquished the title of president to Gideon Yu, who joined the team as president in 2012. York joined the 49ers after working as a financial analyst at Guggenheim Partners in New York. He worked his way through the front office after joining the team in the mid-2000s.