Page "Art Modell" Paragraph 33

Despite a no-cost stadium lease, all revenues from parking, concessions, and TV, as well as a reported $ 25M Maryland subsidy, Modell's ownership of the Ravens resulted in continual financial hardships, and the NFL stepped in and directed Modell to sell his franchise.

In 2003, Modell sold the Ravens to minority owner, Maryland businessman Steve Bisciotti.

Under the deal, Modell retained a small interest ( approximately 1 % share ) upon the team's sale as a legal maneuver to avoid a claim by the Andrews trust, which was controlled by family of a former business adviser who sought to collect an estimated $ 30 million finder's fee upon Modell's sale of the team.

The Andrews trust essentially claimed that under a 1963 agreement, Modell owed a finder's fee for his original purchase of the team which was to be paid when Modell sold his entire interest.

In July 2005, Modell prevailed in court and defeated the Andrews trust's claim.

At the time of sale the franchise's worth was estimated at approximately US $ 600 million.