- Billionaire Philadelphia Eagles owner Jeffery Lurie once had a stint as an adjunct professor of social policy before shifting his career and ultimately leading the 12th-most-valuable sports franchise in the world.
As the Philadelphia Eagles seek to dethrone the back-to-back NFL champion Kansas City Chiefs in Sunday’s Super Bowl, the appearance is a testament to Eagles’ billionaire owner Jeffery Lurie.
After a 14-3 regular season, the Eagles are riding a three-game playoff winning streak ahead of their third Super Bowl appearance in the last eight years.
Prior to this recent success, the seed was planted in 1994, when Lurie took control of the team. But before his days at the helm of the Eagles, Lurie was an adjunct assistant professor of social policy at Boston University.
After his stint in academia, Lurie joined his grandfather’s business, movie theater chain General Cinema Corporation, in 1983. In 1985, Lurie started his own TV and film company, Chestnut Hill Productions. While the company won three Academy Award-winning documentaries, Lurie aspired to own an NFL franchise.
The Boston-native threw his hat in the ring in 1993 to purchase the New England Patriots. Ultimately, Lurie was outbid by Patriots current owner Robert Kraft after he paid $172 million for the struggling franchise.
In 1994, the Philadelphia Eagles were coming off a .500 season, finishing 8-8, and missing out on the playoffs. The team had a merry-go-round of quarterbacks that year with Bubby Brister, Randall Cunningham, and Ken O’Brien each starting more than four games for the club.
The Eagles had yet to win a Super Bowl, their stadium was deteriorating, and their practice grounds were in a similar state of dilapidation. Concerns around competency in the front office arose as well, after Hall of Fame defensive lineman Reggie White signed with the Green Bay Packers and rookie first-round draft pick Leonard Renfro flopped.
Billionaire Norman Braman, who was the Eagles owner at the time, was looking for a potential suitor to take the reins of the team after he started dealing with illness.
“I had made up my mind a lot earlier that I was going to exit from ownership of the Eagles,” Braman told Forbes. “I honestly believe stress and pressure have an impact on an individual's quality of life.”
Using stock, the family trust, and a bank loan, Lurie bought the Eagles for $185 million in 1994. At the time, it was believed to be the most expensive purchase of an established professional sports franchise.
During the initial years of Lurie’s ownership, he modernized the facilities as he feared the aged stadium and practice field would deter recruitment.
“I was always worried that we were in (Veterans Stadium) and that we wouldn’t be able to attract free agents, maintain top players that we had and attract top coaching,” Lurie told Forbes.
With the help of $200 million in public funding, the Eagles built a $37 million training facility and a new $512 million venue, Lincoln Financial Field, which they have called home since 2003.
Throughout Lurie's tenure with the Eagles, he’s come under scrutiny from Philly faithful. In 2012, he laid off Andy Reid — the current Kansas City Chiefs head coach and the winningest coach in Eagles history. Additionally, Lurie oversaw failed installations with coaches Chip Kelly and Pat Shurmur. But in 2016, Lurie hired Doug Pederson, who won the team’s first championship in 2018.
The Philadelphia Eagles did not immediately respond to a request for comment.
Regardless of Super Bowl LIX’s outcome, Lurie will remain victorious financially: his initial investment has blossomed 35 times over. The Eagles are now worth $6.6 billion, the eighth-most-valuable NFL franchise and the 12th-most-valuable team in the world, and he is personally worth $5.3 billion, according to Forbes.
That success has led to speculation he might try his hand with another team. On a recent podcast, the Ringer's Bill Simmons said that Lurie is among the bidders for the NBA's Boston Celtics.
Lurie told reporters this past week that he's not interested in acquiring another team, but didn't completely count it out.
“I would never say never, but I’m not looking to own another sports franchise,” he said. “The Celtics, again, are exceptional. They’re so well run; they’re so talented.”
“It’s my childhood team—however, I do not expect that to happen.”
