In exchange for an entry fee of $2,500, the Bell-Wray group was awarded the assets of the failed Yellow Jackets organization. Drawing inspiration from the insignia of the centerpiece of President Franklin D. Roosevelt's New Deal, specifically the National Recovery Act's "blue eagle," Bell and Wray named the new franchise the Philadelphia Eagles, with Bell as president and general manager and Wray as head coach. Although this makes it appear that the Yellow Jackets sat out the 1932 season and returned in 1933 as the Eagles, this is not the case. The Eagles do not claim the Yellow Jackets' history as their own, and neither they nor the NFL officially regard the two franchises as the same, citing the aforementioned period of dormancy. The Eagles simply inherited the NFL rights to the Philadelphia area. Further, Wray and Bell assembled an almost entirely new team; only a single player from the 1931 Yellow Jackets ended up with the 1933 Eagles.