re: Panther's Financials Leaked, $112mil In Profits 2010-2012

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but it certainly is on par with what he could get if he invested $1B elsewhere.

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if maximizing profit was the goal, he should sell the panthers and invest the monies received from the sale.
again, i think your valuation is off. its operating as a business, not a mutual fund.
revenue - costs = profit
costs/profit = roi %

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He has an asset worth $1B, returning 6.1% interest. I'm not crying for the guy, but it certainly is on par with what he could get if he invested $1B elsewhere.

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Several points:

The value of the NFL franchises has risen dramatically in recent decades (they paid just over $200M in 1993, now it is worth over a billion)

One of the arguments about why pro sports are good investments is NOT necessarily about the money returned each year (although 6% annual return today would be fine for 2010-2012 if your calculated value of a billion paid were to be correct) but that the franchises have been escalating dramatically in overall value. (So any owner unhappy with a "6%" return investment with public support should feel free to sell out a reap another giant windfall).

They have been lying about losing money

They have been receiving public money for their stadium etc.