[3][4] Clark rounded up 100 Philadelphia investors to invest $3,000 each to purchase the team for $250,000 from Alexis "Lex" Thompson on January 15, 1949.
[5] The Happy Hundred included[2] Clark served as the team president from 1949 to 1953, but gave up the position due to business pressure.
By his death in 1962, Clark owned 20 percent of the team, and only 65 investors of the original "Happy Hundred" remained.
[8] One member of the "Happy Hundred", Leonard Tose, tried to buy the team from the majority owners in 1956 with a group of his own, but was unsuccessful.
It made for a good story and headlines but the truth is Lex Thompson sold about 60 shares to Jim Clark.