Half-way through the 1931 season, in the NFL, the Frankford Yellow Jackets went bankrupt and ceased operations.<br />After more than a year of searching for a suitable replacement, the NFL awarded the dormant franchise to a syndicate headed by Bert Bell and Lud Wray, in exchange for an entry fee of $2,500.<br />Drawing inspiration from the insignia of the centerpiece of President Franklin D.<br />Roosevelt's New Deal, the National Recovery Act, Bell and Wray named the new franchise the Philadelphia Eagles.<br />(Neither the Eagles nor the NFL officially regard the two franchises as the same, citing the aforementioned period of dormancy; furthermore, almost no Yellow Jackets players were on the Eagles' first roster.).<br />The Eagles, along with the Pittsburgh Steelers and the defunct Cincinnati Reds, joined the NFL as expansion teams. (*)