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  • Pharmaceuticals Heir Buys New York Jets
Press Releases

Pharmaceuticals Heir Buys New York Jets

American football - 11 Jan 2000
   
Robert Wood Johnson IV, an heir to the Johnson and Johnson pharmaceutical empire, has entered into definitive agreements with the estate of Leon Hess to buy the New York Jets for approximately $635 million.

The Finance Committee of the NFL today agreed to recommend Johnson's bid when the owners of the 31 NFL clubs meet next Tuesday.

The main competitor to Johnson was the chairman of Cablevision Systems, Charles Dolan, who currently owns two of New Yorks finest clubs: the Knicks from the NBA, and the Rangers hockey team. He also owns Madison Square Gardens, where both teams play.

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