Before leaving for next week's NFL owners meetings, Steve Bisciotti said he is prepared to take the biggest handoff in Ravens history.
Bisciotti, who owns 49 percent of the team, has informed majority owner Art
Modell that he will buy the remaining 51 percent and assume control of the
Ravens after the 2003 season.
The Anne Arundel County businessman bought a minority interest for $275
million in 1999, which included the right to buy the rest of the team anytime
between 2004 and 2006. In his annual lunch with Modell earlier this month,
Bisciotti reiterated his intention to purchase the rest of the team's shares
in January for $325 million and become sole owner.
"I'm 90 percent certain that it will be done," Bisciotti said. "As I sit
here, my goal is to exercise the option."
This means the 2003 season will be Modell's last after more than four
decades of ownership.
Modell entered the league in 1961, when he paid $3.93 million for the
franchise, then known as the Cleveland Browns. He was vilified nationwide
after moving the Browns to Baltimore in 1996, but soon returned to the top of
the football world when the Ravens won Super Bowl XXXV in January 2001.
Now, after the Ravens' surprising success last season, the 77-year-old
owner said he is upbeat about his chances for a memorable exit.
"I do want to go out on top as a winner," Modell said. "But my emotions are
pretty clear. I've had a good run. God has been good to me, pulling me through
two heart attacks and two hip operations. I have enjoyed the years enormously
in Cleveland and especially in Baltimore."
Bisciotti intends to keep Modell around as a consultant and has gone out of
his way to pay him the utmost respect. In the team's new training
headquarters, Modell will have an office just feet away from Bisciotti's.
"Art is a great resource for me," Bisciotti said. "I want to keep Art
involved. I think it would be insensitive of me - and shortsighted of me - to
believe that I didn't need his advice and direction over these next few years.
I'm looking forward to his involvement."
Although he always wanted to hand over the team to his two sons, Modell
said he has no regrets in his dealings with Bisciotti. Four years ago, Modell
sought an investor to help pay off the debt acquired in moving the team from
"He's a very fine individual," Modell said. "I think he's a quick study. I
think he has a passion for the game. I think he'll be a good, solid owner in
In preparation for the changeover, Bisciotti has raised his
behind-the-scenes presence. He estimated that his time spent with the Ravens
has increased from 30 percent last year to 60 percent this year.
Bisciotti has played an active role in the team's negotiations for new
radio and medical contracts and has overseen the Ravens' soon-to-be-built,
97,000-square-foot practice facility in Owings Mills.
This approach likely will be typical of Bisciotti, 42, who would become the
league's second-youngest owner. Unlike the NFL's youngest owner - the
Washington Redskins' Daniel Snyder - Bisciotti doesn't foresee himself being
hands-on in day-to-day personnel matters.
"I don't know if anyone will notice a difference between now and the day
when I technically take over," Bisciotti said. "It will be a fairly smooth
transition. As far as the football decisions, Ozzie [Newsome, general manager]
will still have the final say."
Attempts to create a seamless transition began last year, when Newsome and
coach Brian Billick were signed to extensions. By locking up Newsome and
Billick through Bisciotti's first couple of seasons as owner, the franchise
keeps continuity in the front office.
"What Steve and Art have been able to do is probably going to be seen as
the best way to acquire a franchise," Newsome said. "Steve has had three years
to watch and understand the business. When and if he takes over, he will not
be jumping into the water for the very first time. He comes in with a sense of
what direction he wants the franchise to go. From that standpoint, it's not
going to be a lot of change."
Bisciotti, though, has experienced drastic change to become an NFL owner.
A year after graduating from Salisbury State in 1982, Bisciotti started his
company, Allegis (formerly Aerotek), in a basement office in Annapolis, with
two old desks and a carpet stuck together with duct tape. Allegis, based in
Hanover, has grown into one of the nation's leading technical staffing firms.
But Bisciotti, who grew up as a Colts fan, never thought about becoming a
professional sports owner until 1993.
"I can honestly say when Peter Angelos bought the Orioles - and I loved the
Orioles growing up as much as I loved the Colts - that's when I was exposed to
a local guy buying a team and I was envious of him," said Bisciotti, who is a
graduate of Severna Park High. "When you're 35 years old, you're not thinking
about being a professional ballplayer anymore."
Now, he is less than a year removed from taking control of one of the most
lucrative franchises in the NFL. According to a magazine last year, the Ravens
were valued at $607 million, fifth highest in the league.
To Bisciotti, acquiring the Ravens has been worth the wait.
"I'm looking forward to it," he said. "It's been the absolute optimal way
to enter the NFL. To sit back and learn for these past three years, I'm just
Bisciotti plans to buy out Modell
Minority owner reiterates his intention to exercise option to purchase Ravens; He'd pay $325 million in January; 2003 season would be last for Modell as NFL owner
We've upgraded our reader commenting system. Learn more about the new features.
The Baltimore Sun encourages civil dialogue related to our stories; you must register and log-in to our site in order to participate. We reserve the right to remove any user and to delete comments that violate our Terms of Service. By commenting, you agree to these terms. Please flag inappropriate comments.