Jon Bon Jovi Loses Money on Arena Football, and He's Fine With That

Jon Bon Jovi was the subject of a 60 Minutes profile today, and the subject of his ownership of the Philadelphia Soul of Arena Football came up:

Steve Croft asked Bon Jovi if he makes money on Arena Football, and Bon Jovi acted like his answer, "No," should have been obvious. He then added, "But we're not losing a lot of money either."

Bon Jovi says he hopes to own part of an NFL franchise some day, and he explained that his involvement in sports isn't about making money. He's doing just fine in music, and he says sports aren't a particularly wise investment, but he sees owning a sports team as an opportunity to get involved in his community.

I think that's basically what keeps Arena Football afloat: Owners who have a lot of money, want something to do, and think owning a sports team would be fun. Nothing wrong with that.