Jon Bon Jovi is a big football fan. He event sunk some cash into an arena football team. But when it came time to take a piece of the Atlanta Falcons, he passed. What a mistake. From Forbes:
In February, 2011 the rocker was going to invest $150 million for a 15% stake in the Atlanta Falcons. A month later, the NFL lockout hit and Bon Jovi changed his mind because he felt the work stoppage would reduce the $1 billion valuation his investment placed on the Falcons, according to a person familiar with the situation.
Jeezus. There's that much money in singing "Livin' on a Prayer" over and over? But with a ten years of labour peace ahead and a new stadium coming online, the value of the Falcons is shooting up.
The present value of the future payment valued the team at $987 million. Atlanta is much bigger market than Cleveland and will have a state-0f-the art stadium, so it is hard to see how the Falcons could be worth less than $1.1 billion once the stadium is a done deal.
But Bon Jovi will likely only profit from the new stadium by performing during halftime of a Super Bowl.
More here. Thanks to John for the link.