Trump’s business decision cost him dearly years later.
Donald Trump once effectively lost $10 billion via a sports decision he made in the 1980s.
The US President has recently passed the 100-day mark during his second term, having won the Presidential election as the Republican candidate back in November.
Following his inauguration in January, Trump has implemented a series of controversial policies relating to migration and tariffs, while the regularity of his golf course appearances have also gained plenty of attention.
Trump owns 16 golf courses worldwide, and gained notoriety for his business exploits prior to becoming President for the first time in 2017.
He has delved into other sports, making a number of appearances in WWE in the late 2000s resulting from his friendship with the company’s previous long-time owner, Vince McMahon.
Trump did, however, fail to gain a foothold in American football, having failed in his attempts to take over several NFL teams in the 1980s.He instead bought a majority stake in the New Jersey Generals, who played in the rival United States Football League, in 1983.
The USFL had only been set up in 1982 and was largely a destination for veteran NFL players who had been released, or young players attempting to make their way in the sport.
From 1984 onwards, Trump advocated for a merger between the two leagues, which would then enable him to become directly involved with the NFL.
He also attempted to persuade other team owners to move the USFL’s schedule from the American spring to the fall, so that it clashed with the NFL and would theoretically increase the likelihood of a merger.
Trump had already made himself unpopular with NFL bosses when, after purchasing the Generals for between $8 and $9 million, he tried to poach several coaches and staff members from the top league.
And he handed star NFL linebacker Lawrence Taylor a $1 million loan over 25 years, on the provision that he began playing in the USFL from 1988 onwards.
Back then, the NFL was in financial difficulties due to the savings and loan crisis in the United States and internal ownership battles, with several franchises put up for sale.
One of those was the Dallas Cowboys, but Trump declined to make a offer for the $50 million-valued team in 1984.
He would tell the New York Times of his prediction that NFL brands ‘would see [their value] move laterally‘, and added: “I feel sorry for the poor guy who is going to buy the Dallas Cowboys.
“It’s a no-win situation for him, because if he wins, well, so what, they’ve won through the years. And if he loses, which seems likely because they’re having troubles, he’ll be known to the world as a loser.”
But unfortunately for Trump, NFL franchises would largely bounce back from their financial issues into the 1990s, with the league itself pocketing record amounts of revenue.
The Cowboys are now said to be worth in excess of $10 billion, with the sport having continued to experience high levels of growth in recent decades.
As for the USFL, the league folded before the 1986 season got underway.
Due to financial difficulties, several teams merged at the end of 1985, with Trump buying the Houston Gamblers franchise.
The USFL then launched legal action against the NFL, accusing them of violating anti-monopoly and antitrust laws. The league hoped that any settlement in their favour would keep them afloat.
They sought damages of up to $1.8 billion, and while the court found in favour of some of its key arguments, most of them were rejected.
In the end, the USFL were awarded a total sum of just $3 in damages, and folded soon afterwards as a result.
