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Happy Hundred

From Wikipedia - Reading time: 6 min

The "Happy Hundred", also known as the "100 Brothers",[1] and officially known as Eagles Sports, Inc.[2] was a group of investors who owned the Philadelphia Eagles franchise of the National Football League (NFL) from 1949 to 1963. The group was headed by Philadelphia trucking magnate James P. Clark, the majority owner.[3][4] Clark rounded up 100 Philadelphia investors to invest $3,000 each to purchase the team for $250,000 from Alexis "Lex" Thompson on January 15, 1949.[5]

The Happy Hundred included[2]

Clark served as the team president from 1949 to 1953, but gave up the position due to business pressure. He was succeeded by Frank McNamee, but remained with the organization as vice president and chairman.[6] In 1950, the group attempted to purchase the Philadelphia Athletics Major League Baseball team.[7]

The Eagles won two NFL Championships while under ownership of the "Happy Hundred," in 1949 and 1960. By his death in 1962, Clark owned 20 percent of the team, and only 65 investors of the original "Happy Hundred" remained. In December 1963, the "Happy Hundred" sold the club to Jerry Wolman for $5,505,000, and each investor received more than $60,000.[8] One member of the "Happy Hundred", Leonard Tose, tried to buy the team from the majority owners in 1956 with a group of his own, but was unsuccessful. In 1969, Tose eventually bought the Eagles from Wolman and owned the team until 1985.[9]

Bill Mackrides, the starting quarterback for the Eagles in 1948, claimed that the "Happy Hundred" was a sham. He said, "That's all pure myth. It made for a good story and headlines but the truth is Lex Thompson sold about 60 shares to Jim Clark. Clark had a friend who owned another 20 shares. To this day, no one knows that."[10]

Such an ownership group would not be permitted under current NFL bylaws, which requires that one general partner hold at least a 30% stake in the team[11] and limits the number of people who can hold interest in a club organized as a corporation to 25.[12]

References

[edit]
  1. ^ Fitzpatrick, Frank (September 12, 2010). "1960 championship ignited Eagles fervor". The Philadelphia Inquirer. Archived from the original on January 16, 2014. Retrieved 2011-10-28.
  2. ^ a b "Philly Grid Franchise Comes Home". The Deseret News. January 15, 1949. Retrieved 3 February 2024.
  3. ^ McKee, Don (December 5, 1997). "V.a. Mcnally, 94, 1960 Eagles Gm". The Philadelphia Inquirer. Archived from the original on January 16, 2014. Retrieved 2011-10-28.
  4. ^ Warrington, Robert D. Departure Without Dignity: The Athletics Leave Philadelphia. Society for American Baseball Research, 2010.
  5. ^ "Phillie Eagles of NFL Sold for Quarter Million". Herald-Journal. January 17, 1949. Retrieved 3 February 2024.
  6. ^ "Eagles Name Clark". Middlesboro Daily News. March 6, 1953. Retrieved 3 February 2024.
  7. ^ "Philadelphia Athletics Sought By Syndicate". Star-News. June 9, 1950. Retrieved 3 February 2024.
  8. ^ Didinger, Ray; Robert S. Lyons (2005). The Eagles Encyclopedia. Temple University Press. pp. 127–128. ISBN 1-59213-449-1.
  9. ^ Fitzpatrick, Frank (April 16, 2003). "Ex-Eagles owner Leonard Tose dies". The Philadelphia Inquirer. Archived from the original on January 16, 2014. Retrieved 2011-10-28.
  10. ^ Bostrom, Don (January 19, 2003). "Eagles still a long way from matching 1948, '49 teams". The Morning Call. Retrieved 2011-10-28.
  11. ^ "1985 Resolution FC-7*" (PDF). Constitution and Bylaws of the National Football League. National Football League. Archived from the original (PDF) on 7 March 2014. Retrieved 11 February 2012.
  12. ^ "1996 Resolution FC-5" (PDF). Constitution and Bylaws of the National Football League. National Football League. Archived from the original (PDF) on 7 March 2014. Retrieved 11 February 2012.
Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Happy_Hundred
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