Robert Kraft, owner of the New England Patriots, commenting on the NFL’s decision to allow private equity ownership of franchises: “It’s sort of like having a pool of capital of faceless investors that allow us to grow and build our asset. I don’t know how many businesses you know that, on a compounded basis, have grown at 13 percent. I know in our case that is what happened. We paid $172 million for the Patriots, and it was just valued at $7 billion.”
Brian Cornell, CEO of Target, on corporate taxes: “We are a full-fare payer. When corporate taxes were 35 percent, we paid 35 percent. When taxes were reduced, we put our capital to work. Since 2017, when the corporate taxes were reduced, we spent close to $50 billion building new stores across the country, remodeling over 1,000 stores. We put the dollars back into our business. It’s helped our top line grow almost $40 billion since 2017.”