COWBOYS-YANKEES ENTER PARTNERSHIP

As if there wasn’t already a strong enough belief that Jerry Jones wanted to become the George Steinbrenner of the NFL, Jones is now working with the long-time Yankees owner. According to Daniel Kaplan and Don Muret of SportsBusiness Journal, the Cowboys and Yankees have jointly launched a concessions company. The venture, named Legends Hospitality Management, borrowed $100 million several weeks ago. The Cowboys and Yankees each own a third of the company; Goldman Sach has most of the remainder. “Legends” will manage all concessions, suite catering, and team stores at the new Yankees and Cowboys stadiums, both of which open next year. The company also will pursue contracts with other major-league sports, college sports, and sporting events in other countries. Goldman Sachs managing director Gerry Cardinale saw Jones and Steinbrenner as similar, given their entrepreneurial approach to their teams. For the casual fan who doesn’t care much about these business niceties, the mere fact that Jones is working with Steinbrenner is certain to fuel the perception that Jones would like to do away with the salary cap, and attempt to buy the best possible team each and every year. Then again, Jones has spent a bunch of money on his current team. And he’s not getting much of a return on his investment.