Heartbreaking: Cardinals Owners Reportedly Finalize $2.55 Billion Deal To Sell Team.
In 1995, Bill DeWitt III and Stephen Brauer purchased the St. Louis Cardinals from Anheuser-Busch for $150 million. Today, the franchise is valued at $2.55 billion, according to Forbes, which also estimates the Cardinals’ annual revenue at $372 million. Clearly, the DeWitt family has seen a remarkable return on their investment.
To clarify, there are no current reports or rumors suggesting that the DeWitt family plans to sell the team. Bill DeWitt Jr. has stated that there are no intentions for him to fully take over the team’s ownership from his father. It seems that the DeWitts will maintain their ownership for the foreseeable future. The Cardinals are a globally recognized brand and consistently rank among the top in North American sports valuations. The DeWitts are undoubtedly aware of the valuable asset they possess.
My reflection on the team’s recent struggles led me to consider which part of the organization deserves the most scrutiny: the players, coaches, front office, or ownership. Ultimately, the players are accountable for meeting performance expectations, the coaches are tasked with leading and preparing the team, and the front office manages player transactions and development. At the top, the owners are responsible for providing the resources necessary for competition, yet contention has been elusive in recent years.
The DeWitt family has transformed the area around Busch Stadium into a significant revenue generator, including Ballpark Village and nearby residential developments. Additionally, the Cardinals consistently rank high in attendance each season. Revenue is not an issue for the team, even with the uncertainties surrounding Diamond Sports Group and Bally Sports.
If the family were to sell the team—which remains highly unlikely—there would be numerous interested buyers for such a prominent and profitable franchise. However, potential buyers would need significant net worth to afford the high price tag, narrowing the pool of possibilities.
Moreover, Cardinals fans would likely prefer a local owner who shares their passion for the team. Bill DeWitt Jr. and his son are devoted fans, and it is hoped that future ownership will reflect that dedication. This preference further narrows the field of potential owners or ownership groups.
https://redbirdrants.com/posts/5-local-billionaires-who-could-purchase-the-cardinals-if-the-team-were-for-sale-01j5xfkdfgf8/2
