Five months later, Smith agreed to let his nephew buy the Eagles. Lurie contacted Norman Braman, then-owner of the Eagles. Lurie bought the Philadelphia Eagles on May 6, 1994 from Braman for $195 million. Lurie and his mother, Nancy Lurie Marks of Chestnut Hill, Massachusetts Philip Smith’s only daughter borrowed an estimated $190 million from the Bank of Boston to buy the Eagles.

The club is now estimated to be worth $1.164 billion, as valued in 2011 by Forbes.