Lucrative TV deals have helped push the value of NFL franchises sky-high in recent years
he Hunt family’s fortune traces back to oil wildcatter H.L. Hunt, who used poker winnings to buy untapped land, struck black gold in the 1930 East Texas Oil Boom and later spread his wealth to his 14 children. Whenpublished its inaugural Forbes 400 list of the richest Americans in 1982, eight years after H.L.’s death, 11 of his heirs made the list.
In the 1950s the NFL was beginning to cement itself as a dominant force, and a young Lamar Hunt wanted in. The league nixed his plans to create a new team in Dallas. The owners of the Chicago Cardinals offered to sell him 20% of their team, but Hunt declined. He had a bolder vision, for a league of his own. So he corralled a group of eight fellow wannabe owners, who put in $25,000 each, and launched the competing American Football League.
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