Donald Trump once effectively lost $10 billion through a sports decision he made in the 1980s.
The US president has just completed the first 100 days of his second term, after winning the presidential election as the Republican candidate in November.
Since his inauguration in January, Trump has implemented a series of controversial policies related to immigration and tariffs, while his frequent appearances on golf courses have also attracted much attention.
Trump owns 16 golf courses around the world and became known for his business ventures before he first became President in 2017.
He has also been involved in other sports, making several appearances in WWE in the late 2000s due to his friendship with the company's longtime former owner, Vince McMahon.
However, Trump failed to secure a permanent position in American football, as he failed to take control of several NFL teams in the 1980s. Instead, he bought a majority stake in the New Jersey Generals in 1983, which played in the United States Football League (USFL), a rival league that had been formed only a year earlier.
By 1984, Trump was a vocal supporter of the idea of merging the two leagues, with the goal of being directly involved with the NFL. He also convinced other USFL team owners to move the game schedule from spring to fall, so as to clash with the NFL's and increase the likelihood of a merger.
Trump had already made himself unpopular with NFL executives when, after purchasing the Generals for an estimated $8-9 million, he attempted to recruit several NFL coaches and staff. He also gave NFL star Lawrence Taylor a $1 million loan over a 25-year period, on the condition that he begin playing in the USFL starting in 1988.
At the time, the NFL was in financial trouble due to the US savings and loan crisis and internal ownership problems. One of the teams put up for sale was the Dallas Cowboys, but Trump refused to bid for the team, which was valued at around $50 million in 1984.
for New York Times, he said: “I feel sorry for the poor guy who’s going to buy the Dallas Cowboys. It’s a no-win situation – if he wins, it doesn’t matter, because they’ve been winning for years. And if he loses, as seems likely, he’ll be called a loser by the whole world.”
Unfortunately for Trump, the NFL rebounded strongly in the 1990s and began generating record revenues. The Dallas Cowboys are now reportedly worth over $10 billion, and the sport has experienced tremendous growth over the past decade.
The USFL, on the other hand, disbanded before the 1986 season began. Due to financial difficulties, several teams merged in late 1985, and Trump also purchased the Houston Gamblers. The league then took legal action against the NFL, accusing it of violating antitrust and unfair competition laws. They sought damages of up to $1.8 billion.
Although the court ruled in their favor on some points, most of the claims were dismissed. In the end, the USFL received only $3 in damages – and as a result, it disbanded shortly thereafter./Express newspaper/
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