Blog Post: Stephen Wicks -
Sean "Diddy" Combs wants to get in on the opportunity to be the first Black business man to be a principal owner of an NFL franchise team. The Carolina Panthers' owner, Jerry Richardson, has said that he is ready to sell the team and Diddy has been working with other investors to put a deal on the table. Professional athletes, Steph Curry and controversial ex-quarterback Colin Kaepernick have said that they are willing to join the effort. It has been reported that the NFL wants a new owner by April of 2018.
The NFL has produced many millionaires by current and former players being able to invest their earnings from salaries and endorsement deals, but clearly, the lion's share of the profits come from actually owning a team and not just playing on the field. According to an article on NewYorkDailyNews.com, the average value of a NFL team is $2.4 billion dollars. That's a whole lot of profit. It's a fact that the majority of the starting line-ups of NFL teams are now Black, yet there is not one Black principal owner of any NFL team. That's a serious wealth disparity. Diddy and others are trying to change that dynamic.
If Black people in America are going to break the cycle of poverty we must begin to understand the power of ownership. We applaud the efforts of Diddy and the other investors. We need to promote and support these efforts whenever and however we can.
Sean Comb became a very successful entertainer and business owner after forming Bad Boy Entertainment in the 1993. Forbes Magazine estimated Diddy's net worth at $820 million dollars. He is very close to being the first hip hop billionaire.
Let's hope that he is successful and better yet, that his attempt inspires others to make the move towards business ownership. We'll keep you posted.
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According to Nielson reports, African American spending power has tipped 1 trillion dollars. How are we using that buying power? Are we re-investing in the communities that we live? One way to do that is to use a Black owned bank. Access to capital and loans are an essential part of being successful in today's world. Let's be smart about how we use our money.
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We also have OneUnited Bank in our directory. They allow deposits nationwide via there website and app. Visit our homepage and do a search for "banks" to find a bank for you to deposit your money today!
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The NFL appears to be blacklisting NFL quarterback Colin Kaepernick. In 2016, Kaepernick caused controversy by choosing to sit down instead of standing up for the national anthem during NFL games.
He chose to do that to draw attention to the many cases involving police shootings of minorities across the U.S. Many people believe that athletes should NOT be political and that they should simply play their sports for our entertainment.
In this country's history their have been athletes who have stood up against that premise and have used their fame and fortune to bring attention to issues that were important to them. One of the most famous cases was that of boxing legend Muhammad Ali.
Ali was opposed to the Vietnam war and filed a conscientious objector status and refused to be drafted to serve in the armed forces. As a result he was jailed and loss his championship belt. Many people did not agree with him taking a stand and thought that he should simply stay in his place and fight in the boxing ring. His past actions now are regarded as courageous and he is now regarded as a sports icon.
The NFL, and the owners of the teams are making millions of dollars off of Black athletes but are relatively silent regarding issues that involve minority injustices. I'm sure that they have a delicate balancing game that they must play to keep ALL of their fans happy.
So if they are afraid to rock the boat and make a stand, why can't they at least allow their players to have their small way of making a stand? Should we be upset with the NFL for preventing players like Kaepernick to express themselves?
Owners of NFL teams are treating Kaepernick like he has committed a crime, was involved in drugs, or was involved in a domestic dispute.
He has done none of those things. There has been NFL players who have done those things and still was able to find a place on a NFL team roster.
Why the harsh treatment of Colin Kaepernick? It seems that race issues are not as evolved as we may think in the U.S. Should we be silent as they treat this talented player this way? Or should we respond by withholding our support?
Community leaders like Najee Ali are calling for a boycott. Thousands of fans have signed a petition with intent to boycott if they do not sign Kaepernick. Do you agree?
Let us know your opinion in the comments. Keep it civil.
Read more about boycott here:
Watch Shannon Sharpe speak about this Colin Kaepernick's right to protest.
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