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Message: <blockquote data-quote="HardRightEdge" data-source="post: 541201">No.  Money taken in through the stock offering is not counted as revenue or operating earnings.  It's a balance sheet matter.Speaking of the stock offering and the Packer structure, let's look at the Packer advantages over a billion dollar owner:1. The stock offering is tantamount to a tax free, cost free gift from the ban base, like hundreds of millions in capital falling from the sky.  That does not happen elsewhere, and I'm tempted to say it's an overwhelming advantage if one discounts market size.2. Also, some of these billion dollar owners feel the need to extract a sizeable income from the franchise to support a particular lifestyle for themselves and family members (who might also be on the payroll). While Murphy is handsomely paid, it could be a lot worse.3.  Some of those billion dollar owners are asset rich, cash poor and in some cases not really billionaires at all and may be leveraged to the hilt.  You can be pretty confident Jerry Jones is not carrying a $250 million cash reserve, or if he is it's offset by debt.</blockquote>

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