Lonestar
09-02-2009, 09:26 PM
2009
Dallas Cowboys
Washington Redskins
New England Patriots
New York Giants
New York Jets
Houston Texans
Philadelphia Eagles
Tampa Bay Buccaneers
Chicago Bears
10. Denver Broncos
Baltimore Ravens
Carolina Panthers
Cleveland Browns
Kansas City Chiefs
Indianapolis Colts
Pittsburgh Steelers
Green Bay Packers
Miami Dolphins
Tennessee Titans
Seattle Seahawks
Cincinnati Bengals
New Orleans Saints
Arizona Cardinals
San Diego Chargers
St Louis Rams
Buffalo Bills
San Francisco 49ers
Detroit Lions
Jacksonville Jaguars
Atlanta Falcons
Minnesota Vikings
Oakland Raiders
Recession Tackles NFL Team Values
Kurt Badenhausen, Michael K. Ozanian and Christina Settimi, 09.02.09, 06:00 PM EDT
Forbes' annual analysis of pro football finds a quarter of the league's franchises worth less than they were last year.
The Dallas Cowboys moved into their $1.15 billion stadium this season
In Pictures: What The Teams Are Worth
The National Football League was sacked by the recession during the past year. Tight credit markets, a precipitous decline in the number of people who could afford to buy a team and an unusually high number of franchises looking for investors combined to lower the average revenue multiple used to value teams from 4.7 to 4.4.
Although the average team enterprise value (equity plus debt) remained unchanged from a year ago at $1 billion, eight teams declined in value. The biggest losers: Oakland Raiders (-7%), Detroit Lions (-6%) and Indianapolis Colts (-5%). This marked the first time in 10 years that any NFL team had gone down in value.
In Pictures: What The Teams Are Worth
But the biggest challenges face owners who bought at the peak. Earlier this year Stephen Ross bought 95% of the Miami Dolphins, the team's stadium and about 100 acres of surrounding real estate for $1.1 billion. But the Dolphins are having trouble selling tickets and have $400 million in debt. The team could post a net loss this season, and during the past few months Ross has been selling small pieces to local celebrities like Gloria Estefan and Jennifer Lopez to raise the team's profile and shore up its balance sheet.
The Dallas Cowboys remained on top of our ranking, worth $1.65 billion, 2% more than a year ago. Thanks to the sale of personal seat licenses (the right to buy a season ticket) the team moved into their $1.15 billion stadium this season with only $200 million of debt and almost all of their season tickets sold.
The team has also leased most of the stadium's 300 luxury suites for an average $275,000 a year. Revenue from the new stadium, net of debt service and operating costs, will be about $285 million in 2009, more than double last year (last year's valuation of the Cowboys partly accounted for the new stadium). Once the reminder of seats, suites and sponsorships are sold the franchise will be worth in the neighborhood of $2 billion.
The finances of the NFL remain unparalleled in professional sports. Revenues for the league's 32 teams rose 7%, to $7.6 billion primarily due to the league's television deals with CBS ( CBS - news - people ), NBC, Fox and ESPN, which combined paid each team $94 million last season. The NFL Sunday Ticket on DirectTV ( DTV - news - people ) netted each team an additional $22 million in 2008 (the broadcasting deals are also the primary collateral for the NFL's $1.3 billion credit facility, used to finance a cheap source of working capital for owners). Ticket and concession revenue increased 6% last season, kicking in an average of $59 million per team.
With player costs (including bonuses and benefits) increasing only 4%, to an average of $135 million per team, the 2008 season represented the NFL's third most profitable year ever: Operating income (earnings before interest, taxes, depreciation and amortization) went up 31%, to an average of $32 million.
The next few years will be much more challenging. The NFL extended its TV rights deals in recent months with CBS, Fox and NBC for an additional two more years each--through 2013. But the deals were for annual fee increases of about 2%, the smallest ever.
Also, many cities have exhausted their waiting lists trying to fill ticket inventory. The Tampa Bay Buccaneers once boasted of a 100,000-fan waiting list. Those days are over. This May the team held a select-a-seat ticket drive where fans could tour Raymond James Stadium and try out available seats. The New York Giants offered their massive waiting list a chance at $700 per game seats for their stadium scheduled to open next year. These season tickets, which require the purchase of a $20,000 personal seat license, remain available.
And the recession will be much harder for the league to overcome this season than in 2008. After the third preseason game this year there were at least 10 teams that were at risk of having at least one of their home games blacked out because not all tickets were sold 72 hours ahead of kickoff. Last season only three teams--Detroit, Oakland and St. Louis--had a total of nine games blacked out.
The biggest potential problem for NFL owners is the end of the collective bargaining agreement that expires after the 2010 season. The deal was scheduled to run through the 2012 season, but owners voted unanimously in May 2008 to opt out of the deal early. Owners complain that they are obligated to pay out 60% of revenues to players, but the owners incur expenses to increase revenues (largely through stadium construction) that are hurting the bottom line. The 2010 season is scheduled to be played without a salary cap for the first time since the 1993 season. There is a good chance that there will be a lockout by the owners. After all, not too many owners can afford to get into a bidding war with Daniel Snyder's Washington Redskins.
The Redskins remain the most profitable team in the league, posting operating income of $90 million. FedEx Field has 91,704 seats, the most in the NFL, and even though the team has struggled on the gridiron it is hard to find an empty seat come game time. Premium seating is also a hot commodity in D.C., as the Redskins generated more than $45 million in luxury suite revenue for the Redskins last year, the most in the NFL.
The New England Patriots were the league's second most profitable team, earning $71 million. The Patriots are the most expensive ticket in football--$118 on average for general seating--and it cost (tickets, parking, food and drink) a family of four $596 to attend a game at Gillette Stadium last season, according to Team Marketing Report, $112 more than the Chicago Bears, the second most expensive game to attend.
http://www.forbes.com/2009/09/02/nfl-pro-football-business-sportsmoney-football-values-09-values.html
2008
Dallas Cowboys
Washington Redskins
New England Patriots
New York Giants
New York Jets
Houston Texans
Philadelphia Eagles
Indianapolis Colts
Chicago Bears
Baltimore Ravens
11. Denver Broncos Tampa Bay Buccaneers
Miami Dolphins
Carolina Panthers
Cleveland Browns
Green Bay Packers
Kansas City Chiefs
Pittsburgh Steelers
Seattle Seahawks
Tennessee Titans
Cincinnati Bengals
New Orleans Saints
St Louis Rams
Detroit Lions
Arizona Cardinals
San Diego Chargers
Buffalo Bills
Jacksonville Jaguars
Atlanta Falcons
San Francisco 49ers
Oakland Raiders
Minnesota Vikings
The Business Of Football
Edited by Kurt Badenhausen, Michael K. Ozanian and Christina Settimi, 09.10.08, 06:00 PM EDT
How much is your favorite NFL team worth?
The National Football League is the strongest sport in the world. The reason: No other league has so successfully exploited new stadiums as the NFL during the past decade. Each of the top 10 most valuable teams plays in a modern stadium, or will by 2010. Yes, England's prolific soccer team, Manchester United, is still the most valuable team in the world ($1.8 billion), but there are only four soccer teams (Real Madrid, Arsenal and Liverpool are the others) worth over $1 billion. The NFL now has 19 teams worth that much, compared with five last year and none five years ago.
The Dallas Cowboys stand at the top of our list as the most valuable team in the NFL, worth $1.6 billion. In 2009 the team will move into a new stadium that should bring in at least $100 million more than their current home. More ...
http://www.forbes.com/2008/09/10/nfl-team-valuations-biz-sports-nfl08_cz_kb_mo_0910nfl_land.html
2007
NFL Team Values
1. Dallas Cowboys
2. Washington Redskins
3. New England Patriots
4. Houston Texans
5. Philadelphia Eagles
6. Denver Broncos 7. Chicago Bears
8. New York Giants
9. Cleveland Browns
10. New York Jets
11. Baltimore Ravens
12. Tampa Bay Buccaneers
13. Kansas City Chiefs
14. Carolina Panthers
15. Miami Dolphins
16. Pittsburgh Steelers
17. Green Bay Packers
18. Tennessee Titans
19. Seattle Seahawks
20. Cincinnati Bengals
21. Indianapolis Colts
22. St Louis Rams
23. Arizona Cardinals
24. Detroit Lions
25. New Orleans Saints
26. San Diego Chargers
27. Buffalo Bills
28. Oakland Raiders
29. Jacksonville Jaguars
30. San Francisco 49ers
31. Atlanta Falcons
32. Minnesota Vikings
2006
Washington Redskins
New England Patriots
Dallas Cowboys
Houston Texans
Philadelphia Eagles
6. Denver Broncos
Cleveland Browns
Tampa Bay Buccaneers
Baltimore Ravens
Chicago Bears
Dallas Cowboys
Washington Redskins
New England Patriots
New York Giants
New York Jets
Houston Texans
Philadelphia Eagles
Tampa Bay Buccaneers
Chicago Bears
10. Denver Broncos
Baltimore Ravens
Carolina Panthers
Cleveland Browns
Kansas City Chiefs
Indianapolis Colts
Pittsburgh Steelers
Green Bay Packers
Miami Dolphins
Tennessee Titans
Seattle Seahawks
Cincinnati Bengals
New Orleans Saints
Arizona Cardinals
San Diego Chargers
St Louis Rams
Buffalo Bills
San Francisco 49ers
Detroit Lions
Jacksonville Jaguars
Atlanta Falcons
Minnesota Vikings
Oakland Raiders
Recession Tackles NFL Team Values
Kurt Badenhausen, Michael K. Ozanian and Christina Settimi, 09.02.09, 06:00 PM EDT
Forbes' annual analysis of pro football finds a quarter of the league's franchises worth less than they were last year.
The Dallas Cowboys moved into their $1.15 billion stadium this season
In Pictures: What The Teams Are Worth
The National Football League was sacked by the recession during the past year. Tight credit markets, a precipitous decline in the number of people who could afford to buy a team and an unusually high number of franchises looking for investors combined to lower the average revenue multiple used to value teams from 4.7 to 4.4.
Although the average team enterprise value (equity plus debt) remained unchanged from a year ago at $1 billion, eight teams declined in value. The biggest losers: Oakland Raiders (-7%), Detroit Lions (-6%) and Indianapolis Colts (-5%). This marked the first time in 10 years that any NFL team had gone down in value.
In Pictures: What The Teams Are Worth
But the biggest challenges face owners who bought at the peak. Earlier this year Stephen Ross bought 95% of the Miami Dolphins, the team's stadium and about 100 acres of surrounding real estate for $1.1 billion. But the Dolphins are having trouble selling tickets and have $400 million in debt. The team could post a net loss this season, and during the past few months Ross has been selling small pieces to local celebrities like Gloria Estefan and Jennifer Lopez to raise the team's profile and shore up its balance sheet.
The Dallas Cowboys remained on top of our ranking, worth $1.65 billion, 2% more than a year ago. Thanks to the sale of personal seat licenses (the right to buy a season ticket) the team moved into their $1.15 billion stadium this season with only $200 million of debt and almost all of their season tickets sold.
The team has also leased most of the stadium's 300 luxury suites for an average $275,000 a year. Revenue from the new stadium, net of debt service and operating costs, will be about $285 million in 2009, more than double last year (last year's valuation of the Cowboys partly accounted for the new stadium). Once the reminder of seats, suites and sponsorships are sold the franchise will be worth in the neighborhood of $2 billion.
The finances of the NFL remain unparalleled in professional sports. Revenues for the league's 32 teams rose 7%, to $7.6 billion primarily due to the league's television deals with CBS ( CBS - news - people ), NBC, Fox and ESPN, which combined paid each team $94 million last season. The NFL Sunday Ticket on DirectTV ( DTV - news - people ) netted each team an additional $22 million in 2008 (the broadcasting deals are also the primary collateral for the NFL's $1.3 billion credit facility, used to finance a cheap source of working capital for owners). Ticket and concession revenue increased 6% last season, kicking in an average of $59 million per team.
With player costs (including bonuses and benefits) increasing only 4%, to an average of $135 million per team, the 2008 season represented the NFL's third most profitable year ever: Operating income (earnings before interest, taxes, depreciation and amortization) went up 31%, to an average of $32 million.
The next few years will be much more challenging. The NFL extended its TV rights deals in recent months with CBS, Fox and NBC for an additional two more years each--through 2013. But the deals were for annual fee increases of about 2%, the smallest ever.
Also, many cities have exhausted their waiting lists trying to fill ticket inventory. The Tampa Bay Buccaneers once boasted of a 100,000-fan waiting list. Those days are over. This May the team held a select-a-seat ticket drive where fans could tour Raymond James Stadium and try out available seats. The New York Giants offered their massive waiting list a chance at $700 per game seats for their stadium scheduled to open next year. These season tickets, which require the purchase of a $20,000 personal seat license, remain available.
And the recession will be much harder for the league to overcome this season than in 2008. After the third preseason game this year there were at least 10 teams that were at risk of having at least one of their home games blacked out because not all tickets were sold 72 hours ahead of kickoff. Last season only three teams--Detroit, Oakland and St. Louis--had a total of nine games blacked out.
The biggest potential problem for NFL owners is the end of the collective bargaining agreement that expires after the 2010 season. The deal was scheduled to run through the 2012 season, but owners voted unanimously in May 2008 to opt out of the deal early. Owners complain that they are obligated to pay out 60% of revenues to players, but the owners incur expenses to increase revenues (largely through stadium construction) that are hurting the bottom line. The 2010 season is scheduled to be played without a salary cap for the first time since the 1993 season. There is a good chance that there will be a lockout by the owners. After all, not too many owners can afford to get into a bidding war with Daniel Snyder's Washington Redskins.
The Redskins remain the most profitable team in the league, posting operating income of $90 million. FedEx Field has 91,704 seats, the most in the NFL, and even though the team has struggled on the gridiron it is hard to find an empty seat come game time. Premium seating is also a hot commodity in D.C., as the Redskins generated more than $45 million in luxury suite revenue for the Redskins last year, the most in the NFL.
The New England Patriots were the league's second most profitable team, earning $71 million. The Patriots are the most expensive ticket in football--$118 on average for general seating--and it cost (tickets, parking, food and drink) a family of four $596 to attend a game at Gillette Stadium last season, according to Team Marketing Report, $112 more than the Chicago Bears, the second most expensive game to attend.
http://www.forbes.com/2009/09/02/nfl-pro-football-business-sportsmoney-football-values-09-values.html
2008
Dallas Cowboys
Washington Redskins
New England Patriots
New York Giants
New York Jets
Houston Texans
Philadelphia Eagles
Indianapolis Colts
Chicago Bears
Baltimore Ravens
11. Denver Broncos Tampa Bay Buccaneers
Miami Dolphins
Carolina Panthers
Cleveland Browns
Green Bay Packers
Kansas City Chiefs
Pittsburgh Steelers
Seattle Seahawks
Tennessee Titans
Cincinnati Bengals
New Orleans Saints
St Louis Rams
Detroit Lions
Arizona Cardinals
San Diego Chargers
Buffalo Bills
Jacksonville Jaguars
Atlanta Falcons
San Francisco 49ers
Oakland Raiders
Minnesota Vikings
The Business Of Football
Edited by Kurt Badenhausen, Michael K. Ozanian and Christina Settimi, 09.10.08, 06:00 PM EDT
How much is your favorite NFL team worth?
The National Football League is the strongest sport in the world. The reason: No other league has so successfully exploited new stadiums as the NFL during the past decade. Each of the top 10 most valuable teams plays in a modern stadium, or will by 2010. Yes, England's prolific soccer team, Manchester United, is still the most valuable team in the world ($1.8 billion), but there are only four soccer teams (Real Madrid, Arsenal and Liverpool are the others) worth over $1 billion. The NFL now has 19 teams worth that much, compared with five last year and none five years ago.
The Dallas Cowboys stand at the top of our list as the most valuable team in the NFL, worth $1.6 billion. In 2009 the team will move into a new stadium that should bring in at least $100 million more than their current home. More ...
http://www.forbes.com/2008/09/10/nfl-team-valuations-biz-sports-nfl08_cz_kb_mo_0910nfl_land.html
2007
NFL Team Values
1. Dallas Cowboys
2. Washington Redskins
3. New England Patriots
4. Houston Texans
5. Philadelphia Eagles
6. Denver Broncos 7. Chicago Bears
8. New York Giants
9. Cleveland Browns
10. New York Jets
11. Baltimore Ravens
12. Tampa Bay Buccaneers
13. Kansas City Chiefs
14. Carolina Panthers
15. Miami Dolphins
16. Pittsburgh Steelers
17. Green Bay Packers
18. Tennessee Titans
19. Seattle Seahawks
20. Cincinnati Bengals
21. Indianapolis Colts
22. St Louis Rams
23. Arizona Cardinals
24. Detroit Lions
25. New Orleans Saints
26. San Diego Chargers
27. Buffalo Bills
28. Oakland Raiders
29. Jacksonville Jaguars
30. San Francisco 49ers
31. Atlanta Falcons
32. Minnesota Vikings
2006
Washington Redskins
New England Patriots
Dallas Cowboys
Houston Texans
Philadelphia Eagles
6. Denver Broncos
Cleveland Browns
Tampa Bay Buccaneers
Baltimore Ravens
Chicago Bears