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A Busted Play
Lester Munson
December 04, 1995
Art Modell says that he owes so much money that he has no choice but to move his Browns to Baltimore because he has reached the $50 million debt limit the NFL has established for each of its franchises. In recent weeks Modell has placed the blame for his precarious finances on local politicians' indifference to his team's plight and on escalating player salaries. But Modell's own misguided business decisions are largely responsible for the mountain of debt he faces.
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December 04, 1995

A Busted Play

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But clearly Modell is still a wealthy man: He owns 51% of a team that is estimated to be worth $160 million or more. And it's no wonder he is leaping at the deal he's getting from the state of Maryland. By 1998 he would have free use of a new stadium in Baltimore, not to mention close to 100% ownership of his team, which by then could be valued at more than $200 million.

[This article contains a table. Please see hardcopy of magazine or PDF.]

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