- Brawn GP was bought for £1 in 2009, later sold for £110 million in Formula 1
- Chelsea was acquired for £1 in 1982, becoming a £140 million investment later
- Chicago Bears started with a $100 franchise fee, now a billion-dollar NFL team
Tata Steel sold on Friday its entire stake in Jamshedpur FC to Churchill Brothers for a token Rs 100, bringing a new twist to the world of bargain sports deals.
The transaction also includes 12 player contracts and two coaches, allowing Churchill Brothers to take over Jamshedpur's Indian Super League licence.
While Rs 100 may sound almost unbelievable for a top-flight football club, it is far from the first time a sports team has changed hands for a nominal amount. From £1 takeovers to century-old franchise investments, here are the five striking instances.
Brawn GP: £1 To A £110-Million Deal In 255 Days
When Honda pulled out of Formula 1 in December 2008, the future of its F1 operation looked bleak. After failing to find an external buyer, team principal Ross Brawn and CEO Nick Fry secured a management buyout for a symbolic £1 in March 2009.
What followed was one of F1's greatest turnaround stories. Brawn GP won both the Drivers' and Constructors' Championships in its only season, with Jenson Button taking the drivers' title. In November, Mercedes and Aabar Investments bought a 75.1% stake in the team for a reported £110 million.
ALSO READ: Tata Steel Quits ISL And Sells Jamshedpur FC For Only Rs 100 To Churchill Brothers
Chelsea: £1 To A £140-Million Takeover
Ken Bates bought Chelsea for just £1 in 1982, at a time when the club was in serious financial trouble. He also took on significant liabilities, estimated at around £1.5 million to £2 million at the time.
Two decades later, Roman Abramovich took control of Chelsea in a deal valued at around £140 million, including the club's substantial debt. Bates' stake was worth roughly £17.5 million, turning his nominal £1 purchase into a hugely profitable investment.
Chicago Bears: $100 Franchise Fee To A Billion-Dollar Empire
The story of the Chicago Bears goes back to 1920, when George Halas represented the Decatur Staleys as they joined the newly formed American Professional Football Association for a $100 franchise fee. In 1921, AE Staley handed the team to Halas along with $5,000 and permission to move it to Chicago, where it would eventually become the Bears.
More than a century later, that modest early investment has become one of American sport's most valuable franchises. The Bears remain in the Halas family, with ownership now controlled by the McCaskey family.
ALSO READ: Rs 100 Tata-Churchill Deal: What's Really Changing
Pittsburgh Steelers: $2,500 To A Multi-Billion-Dollar Franchise
Art Rooney Sr. paid $2,500 for an NFL franchise in Pittsburgh in 1933, giving birth to what would become the Steelers. The team has remained in the Rooney family ever since, surviving the Depression, wartime disruptions and the transformation of professional football into a global business.
What began as a $2,500 franchise has since grown into one of the NFL's most valuable teams, showing just how dramatically the economics of American sports have changed over the past nine decades.
Gateshead FC: When A £1 Price Tag Signalled Trouble
Every sale of the club did not go on to billion-dollar success, so the story of Gateshead offers a slightly different twist.
Richard and Julie Bennett, who had owned the National League club since 2015, announced in 2018 that they wanted to sell after investing considerable time and money, with the club describing itself as debt-free at the time. Hong Kong-based businessman Dr Ranjan Varghese eventually took over in July 2018. But amid mounting financial problems, Varghese put Gateshead up for sale for just £1 in March 2019.
The club was struggling with unpaid wages, a transfer embargo and other financial difficulties, meaning this was less a bargain investment and more a reflection of the club's financial crisis.
ALSO READ: Churchill Brothers Set For Indian Super League Entry After Deal With Tata Steel For Jamshedpur FC
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