What is there to talk about other than the Browns? While We’re Waiting
September 15, 2015Ball Played: Power surge helps freshly baked Cookie
September 15, 2015This just in: It’s good to be an NFL owner. In their annual “Business of Football” release, Forbes refers to the NFL as a 24-7, year-long reality television show. Not only did James Haslam III buy the Cleveland Browns for under $1 billion just a few years ago, he’s also the proud owner of a team said to be worth $1.5 billion today. This equates to more than $50 million in appreciation for a team that has yet to finish anywhere north of last place in their respective division since the transaction took place, the 25th most valuable franchise in the league.
Here’s their breakdown:
25. Cleveland Browns
Current Value: $1.5 bil.
Revenue (2014): $313 mil.
Operating Income (2014): $35 mil.
In 2015, Jimmy Haslam, a former minority investor in the Pittsburgh Steelers, completed his three-year purchase of the Browns from Randy Lerner for $987 million.
Topping the list is the Dallas Cowboys, worth $4 billion, showing that winning isn’t exactly everything, but being competitive and fun to watch sure helps. In 2014, the Cowboys generated revenue of $620 million–a record for a U.S. sports team. They also ranked first in the NFL in average attendance (90,000), premium seating revenue ($120 million) and stadium revenue generated from non-NFL events ($30 million). The Browns, conversely, have a stadium that holds more than 20,000 fewer fans and provides the least-expensive average ticket in the league, providing a headwind for any competitive revenue totals. While the Browns are attempting to renovate and update FirstEnergy Stadium, the San Francisco 49ers took a huge jump in year-over-year revenue (to the tune of 160 percent) thanks to their brand new $1.2 billion stadium—of which only 20 percent was funded by the team and league.
The average NFL team increased by 38 percent in net worth. In 2014, operating income across the league averaged $76 million. And lest anyone believe these ‘averages’ are swayed by big market outliers, the Indianapolis Colts pulled in a reported $90 million in profit last season. On the other side of that spectrum is the Browns, however, who pulled in a fourth-lowest operating income total of $34.7 million—only the Minnesota Vikings, St. Louis Rams and Atlanta Falcons were lower. Nevertheless, both the Browns and Colts saw an increase in franchise value of 34 percent for the year.
With television revenue growing by leaps and bounds, the popularity of fantasy football (and now daily fantasy leagues) perpetually increasing, and ticket prices and luxury seating becoming hotter commodities, the NFL—despite all of its warts and PR battles—continues to thrive. Think the NFL is peaking? Like Forbes says: Don’t make me laugh. Randy Lerner sold his ownership in the Browns for what amounted to an 86 percent increase in value. Haslam is already more than a half of the way there.
8 Comments
Frowns stamps his feet and waves his little fist in the air in leftist indignation.
The rich are rich because they know how to get rich. Of course they get richer. That’s what they do. Good for them.
https://s-media-cache-ak0.pinimg.com/474x/8c/2e/ac/8c2eac364cb51197b84c232f8ed164bc.jpg
I wouldn’t think being ranked 25th is good even for billionaires.
Someone has to have the fewest billions.
You must have something better to do with your time than throwing around cheap-shot insults against other bloggers, right?
$1.5bn got me feeling like…
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