Being one of the few NFL team owners puts you in a selected company because there are only 32 teams to own. Even among that small group, Houston Texans owner Bob McNair was a step over the rest. He was one of the richest NFL team owners and his team is one of the most valuable NFL teams. Let's take a look at Bob McNair's net worth, how his wealth and wife and family have made.
How did Houston Texans owner Bob McNair die?
81-year-old Bob McNair died on November 23, 2018. The cause of death is unclear, but ESPN notes he has been fighting skin cancer for more than 20 years. In addition to squamous cell carcinoma (a common form of skin cancer), he also treated chronic lymphocytic leukemia in the past.
McNair is the second owner of the NFL team who died in 2018. Microsoft co-founder Paul Allen, who owns Seatah Seahawks, died in October 2018.
Texans wear headphones with McNair's initials, RCM, to honor the owner. Its initials are also painted on the home ground, according to Houston's KTRK TV.
When did Houston Texans buy?
Because they are so rare, NFL franchises usually change their hands when an owner dies or chooses to sell, and the price is usually in billions. David Tepper spent $ 2.2 billion on Carolina Panthers in June 2018. Bob McNair paid much less for Houston Texans.
McNair joined the group in 1999, when the NFL expanded to 32 teams. He paid an expansion fee of $ 700 million to bring a team back to Houston after Oilers left for Tennessee and became titans, according to Sports Illustrated. The team took the ground for their first game in 2002.
The $ 700 million price seems to be steep, but the team's value has risen to $ 2.8 billion at the time of McNair's death.
How did he make his money?
If the owner of Dallas Cowboys, Jerry Jones, has a net worth of oil and gas, McNair has made his money from another form of energy.
McNair set up Cogen Technologies in 1983 and sold it to Enron in 1999 for $ 1.5 billion in cash and equity, according to Celebrity Net Worth. Meanwhile, he built the company in one of the largest cogeneration companies in the world. Cogeneration is a complex process, but it simply involves the use of both heat and electricity from energy production.
Even after he sold Cogen, McNair remained active. He owned power plants in New York and West Virginia, was CEO and chairman of the McNair group and owned private investment company Palmetto Partners.
Who are Bob McNair's wife and children?
When he died, Bob McNair left behind a big family. Besides his wife, Janice, he is survived by his four children: Cary McNair, Cal McNair, Ruth Smith and Melissa Reichert. McNair also had 15 grandchildren and two great-grandchildren, according to The Washington Post. Cal McNair is a Texan executive and will probably take over the team in the future.
What was Bob McNair's net worth when he died?
Between the sale of Cogen Technologies for $ 1.5 billion and Texans' $ 2.8 billion, Bob McNair's net worth was incredibly high. Probably his fortune was estimated at $ 3.8 billion, according to Forbes, making him one of the richest people in the world.
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