Memphis Showboats, Ltd. was capitalized in the amount of $7.5 million.
Limited partners in the team were required to contribute $150,000 per unit for their ownership interest.
Limited partners could kick in the $150,000 in one lump sum, or could make four payments:  one of $75,000, two of $30,000 each, and one of $15,000.
Each limited partner was also on the hook for an additional $23,670 for each partnership unit owned, in case the 'Boats hit the financial skids and needed more money to operate.

The Showboats were the last of six expansion franchises awarded by the United States Football League for its 1984 season.

The award of the franchise was announced on July 17, 1984, six days after the league announced that the San Antonio Gunslingers franchise had been awarded.

Showboats founder Logan Young was only 42 years old when he applied for Memphis' USFL franchise.  An heir to his family's business interests, he would run out of cash before the team played a down - he had plenty of money, but it was tied up in trusts that he couldn't gain access to.

After his USFL days, Logan Young would be a huge booster of Alabama college football, and would be convicted on charges related to paying off high school players to persuade them to sign with the Crimson Tide.  Young died under suspicious circumstances on April 11, 2006. 

The 1985 Showboats featured a number of players who either had or would have successful careers in the National Football League, including John Banaszak, Tyrone McGriff, Harry Sydney and of course, Reggie White.

The Showboats success was a factor that a decade later would keep Memphis' hopes of securing an NFL expansion franchise alive.  Charlotte and Jacksonville were chosen as the expansion sites however, and the relocation of the Houston Oilers to Nashville seems to have dampered any hopes of Memphis securing its own NFL franchise in the future.

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