How did Michael Bidwill earn his money? Analyzing the growth of Cardinals owner’s family business
Arizona Cardinals owner Michael Bidwill is in a fair bit of strife at the moment. He has been accused of harassment, gross misconduct, discrimination, and cheating in an arbitration claim that was filed by a former Arizona executive named Terry McDonough.
While Bidwill seeks to defend himself from the charges, it's worth knowing a little more about him. Owning an NFL team requires a large fortune and many would be curious to know how Bidwill made his.
For Michael Bidwill, he got most of his wealth from his family. He became the owner of Arizona Cardinals after his father, Bill (William) Bidwill, who was part-owner of the Cardinals from 1962 until 2019, passed away.
The family's involvement with the Cardinals started back in 1933 when Charles Bidwill (Michael's grandfather) purchased the team for a cool $50,000. Yep, you read that right.
However, prior to inheriting the Cardinals from his father, Michael Bidwill was a federal prosecutor for six years. Now, with a reported net worth of $1.4 billion, it begs the question - How did Michael earn all his money?
Michael Bidwill's family business
Being the son of a billionaire, Michael Bidwill inherited his fortune from his father, who got his wealth from his father Charles.
Charles was a successful businessman and lawyer in Chicago and there were reports that he had some ties to Al Capone, although they were never proven.
In short, Michael Bidwill has made the majority of his money from his grandfather's incredible deal back in 1933, where he purchased the Cardinals for just $50,000. Now the franchise is worth over $3 billion. That is some deal.
Bidwill had the team 'given' to him as he inherited it from his grandfather and father. Over the course of its journey, it has been transformed into a powerhouse, much like other NFL teams.
While there hasn't been much to celebrate on the field for the Cardinals, off the field, Michael Bidwill and his family have turned the Cardinals into a profit-making machine.
That is largely in part to the teams' stadium, the University of Phoenix Stadium, which rakes in around $200 million a year for the franchise, per leedaily.com.
So, Michael Bidwill had the franchise given to him but, at the time, it was known as one of the worst-run and cheapest franchises. Not anymore, and the Bidwill family continues to be one of the longest-serving owners in American sports history.
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