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Valuation of NFL Franchises
Valuation of NFL Franchises Author: Sam Hill Advisor: Connel Fullenkamp Acknowledgement: Samuel Veraldi Honors thesis submitted in partial fulfillment of the requirements for Graduation with Distinction in Economics in Trinity College of Duke University Duke University Durham, North Carolina April 2010 1 Abstract This thesis will focus on the valuation of American professional sports teams, specifically teams in the National Football League (NFL). Its first goal is to analyze the growth rates in the prices paid for NFL teams throughout the history of the league. Second, it will analyze the determinants of franchise value, as represented by transactions involving NFL teams, using a simple ordinary-least-squares regression. It also creates a substantial data set that can provide a basis for future research. 2 Introduction This thesis will focus on the valuation of American professional sports teams, specifically teams in the National Football League (NFL). The finances of the NFL are unparalleled in all of professional sports. According to popular annual rankings published by Forbes Magazine (http://www.Forbes.com/2009/01/13/nfl-cowboys-yankees-biz-media- cx_tvr_0113values.html), NFL teams account for six of the world’s ten most valuable sports franchises, and the NFL is the only league in the world with an average team enterprise value of over $1 billion. In 2008, the combined revenue of the league’s 32 teams was approximately $7.6 billion, the majority of which came from the league’s television deals. Its other primary revenue sources include ticket sales, merchandise sales, and corporate sponsorships. The NFL is also known as the most popular professional sports league in the United States, and it has been at the forefront of innovation in the business of sports. -
UCLA Historical Journal
Book Reviews 141 Book Reviews William Gildea. Wben the Colts Belonged to Baltimore: A Father and a Son, A Team and a Time. Baltimore: Johns Hopkins University Press, 1994 ViNCE BaGLI and NORMAN L. MacHT. Sundays at 2:00 with the Baltimore Colts. Centreville: Tidewater Publishers, 1995. ports history has been one of the most rapidly growing subdisciplines of J social and cultural history. Almost nonexistent as an academic field two decades ago, its practitioners have since generated a wide-ranging literature, and the usual scholarly apparatus journals and professional organizations. Yet, as is often the case scholars study a topic of popular interest, their work has done little to excite or engage the general reader. Sports histories written for the average fan focus on the great athletes, teams, and games. Academic histories try to imbed those sports in the social and cultural milieu of their community, explaining why they attract the interest they do, and how they shape public space. Recently, two books have appeared which bridge the gap between the popular and the scholarly. Ironically, both also focus on the same team-the former Baltimore Colts of the National Football League. William Gildea's When the Colts Belonged to Baltimore: A Father and a Son, A Team and a Time is a personal memoir of what the team meant to him. Gildea was a young boy when the Colts were created. His father was a busy manager for a chain of drug stores. Watching, discussing, and reading about sports were central to their shared father-son experiences. Gildea describes their autumn ritual of attending mass, and driving across Baltimore to Memorial Stadium, sharing insights into the upcoming game. -
Gino Marchetti
THE COFFIN CORNER: Vol. 18, No. 5 (1996) GINO MARCHETTI by Don Smith Ernest and Maria Marchetti always had the somewhat normal parental fear that their son, Gino, would be hurt playing football. "Whatever you do, Gino," the elder Marchetti used to say, stay out of the other boys' way, so they no hurt you." Every quarterback who played in the National Football League in the 1950s and early 60s wishes like everything Gino had followed his father's advice. But Gino Marchetti, 6-4, 245 pounds and extremely talented, didn't listen to his father and Gino wound up instead as "the greatest defensive end in pro football history," as selected by a special panel of experts in 1969. Many will say that a better pass rusher never lived. It is an irony that Ernest Marchetti, who had shunned opportunities to see his son play in high school, college and the early years of pro football, finally did tune in on the national telecast of the 1958 NFL championship game between Gino's team, the Baltimore Colts, and the New York Giants. The game turned out to be, in many eyes, "the greatest game ever played," and the Colts won, 23-17, in overtime. Gino, however, wasn't around at the finish. He had suffered a severely broken ankle late in the fourth period while making a critical tackle of the Giants' Frank Gifford. Marchetti's teammate, 300- pound Gene (Big Daddy) Lipscomb, fell on top of Gino after the tackle to cause the injury. Marchetti's stop proved to be a key play for it ended the Giants' drive and gave Baltimore the ball. -
How to Get from Dayton to Indianapolis by Way of Brooklyn, Boston, New York, Dallas, Hershey and Baltimore
THE COFFIN CORNER: Vol. 17, No. 5 (1995) HOW TO GET FROM DAYTON TO INDIANAPOLIS BY WAY OF BROOKLYN, BOSTON, NEW YORK, DALLAS, HERSHEY AND BALTIMORE By Bob Carroll Originally published in Ragtyme Sports Once upon a time -- well, in March of 1995, to be exact -- Ragtyme Sports published Rick Hines' story on Y.A. Tittle, one of my all-time favorite bald quarterbacks. Maybe I enjoyed reminiscing about Y.A. too much because I read right past an error in the article without noticing it, an error that has since given rise to a series of letter-to-the-editor corrections that may have simply confused the issue further. To remind everybody, what Rick wrote was "... the [Baltimore] Colts were one of four AAFC teams taken in by the NFL. The other teams from the defunct AAFC to merge with the NFL were the [Cleveland] Browns, New York Yankees and San Francisco 49ers." The question seems simple enough: which teams and how many of them from the old All-America Football Conference (1946-1949) were taken into the the National Football League in 1950? What Rick wrote was wrong. But also it was sort of right, as I will explain later. Eric Minde, a reader who knows his AAFC potatoes (as my sainted grandpa used to say}, jumped all over Rick. In Issue 4, Eric said: "... the article about Y.A. Tittle identifies the New York Yankees as an AAFC team that transferred to the NFL -- this is also wrong! The New York Yankees folded with the AAFC -- it was the Boston Yanks already in the NFL before the AAFC came into existence that became the New York Bulldogs, then later renamed the New York Yanks." This is right as far as it goes. -
A Matter of Opinion: Milkovich Four Years Later Kathryn D
University of Miami Law School University of Miami School of Law Institutional Repository Articles Faculty and Deans 1994 A Matter of Opinion: Milkovich Four Years Later Kathryn D. Sowle University of Miami School of Law Follow this and additional works at: https://repository.law.miami.edu/fac_articles Part of the First Amendment Commons Recommended Citation Kathryn D. Sowle, A Matter of Opinion: Milkovich Four Years Later, 3 Wm. & Mary Bill Rts. J. 467 (1994). This Article is brought to you for free and open access by the Faculty and Deans at University of Miami School of Law Institutional Repository. It has been accepted for inclusion in Articles by an authorized administrator of University of Miami School of Law Institutional Repository. For more information, please contact [email protected]. A MATTER OF OPINION: MILKOVICH" FOUR YEARS LATER Kathryn Dix Sowle* TABLE OF CONTENTS I. INTRODUCTION .................................. 468 II. THE MILKOVICH CASE HISTORY ...................... 478 III. THE SUPREME COURT'S OPINION ..................... 480 A. The Court's Decision-An Expansion of ConstitutionalDoctrine ....................... 480 B. The Meaning of the Fact/OpinionDistinction in Milkovich ................................ 486 IV. THE LOWER COURTS' TREATMENT OF OPINION SINCE MILKOVIcH ..................................... 498 A. The Eight Categories of Lower Court Decisions Since M ilkovich ............................ 499 B. The Significance of the Treatment of Opinion in the Lower Courts Since Milkovich ............... 550 V. ISSUES GENERATED BY THE MILKOVICH OPINION .......... 552 A. What Kinds of Statements Are Provable as True or False on the Basis of Objective Evidence? ......... 552 B. Should Deductive as well as Evaluative Opinions Be Nonactionable? .......................... 575 C. Should "Point of View" Opinion Be Nonactionable? ........................... -
Dome Challenged to Measure Up
VOL. 28 NO. 38 64 PAGES Get free daily news updates at stlouis.bizjournals.com MAY 16-22, 2008 $2.00 Sheehan, Danforth, Pyzyk get record price estate in St. Louis. the 2006 sale of The Plaza in Clayton office tower Centene’s quest to buy 3 Clayton Centene’s years-long quest to buy the three brought in $290 per square foot, then the highest buildings ends in $19 million deal buildings to build its new $215 million headquarters price ever paid for office investment property in St. has paid off handsomely for the three, who held out Louis. on selling their property. Sheehan, Danforth and Pyzyk resisted the city’s BY LISA R. BROWN The $18.8 million sale price for the three build- efforts to take their buildings through eminent [email protected] ings and land is nearly double the initial offer of domain for Centene’s new headquarters. Now Shee- $11.4 million the Medicaid managed-care company han and Danforth have closed on the sales of their For Dan Sheehan, David Danforth and Debbie made in 2006. It’s also several million dollars higher properties, and Pyzyk’s is under contract. The Pyzyk, it was a price worth waiting for. The $18.8 than an offer extended through the city of Clayton sales help move forward Centene’s plans to build its million that Centene is paying for their properties just 10 months ago. headquarters on a half block area bounded by Han- on Forsyth Boulevard in Clayton amounts to the Pyzyk’s and Danforth’s prices for their proper- highest price per square foot ever paid for real ties equaled $431 per square foot. -
January 27, 2000
http://breeze.jmu.edu Knowledge i s Liberty VOL. 77, NO. 31 M N B R Dow JONES u N V E R S THURSDAY, JANUARY 27, 2000 *ivi; >""""•* JMU chooses graduation speaker, seniors left out Some upset by process, selection of relatively unknown businessman RIAN WESTLEY II assistant news editor Despite his background in electronics, the choice for this year's graduation speaker doesn't charge up seniors. Richard Brown, the chief All dressed executive officer of Electronic Data Systems Corporation, will give the commencement up, but no address in May, JMU announced Wednesday. Brown, who has a Bachelor snow dance of Science degree from Ohio University and has held a Storm ravages East number of executive positions in the Sprint Corporation and but bypasses the 'Burg Illinois Bell Telephone Com- pany, will address the about KELLY HANNON 2,400 students expected to news editor receive their degrees in May. Student input from the Depending on how you look at it, ADAM .l< )Nl-.SA <ininhiiiiiii; photographer Senior Class Council was dis- Mother Nature dealt JMU and the regarded, Senior Class Vice At Tuesday's SGA meeting, Speaker Pro Tempore Peter Swerdzewski goes over the agenda. greater Harrisonburg area a cruel, or President Marissa Savastana Scheduled discussion of the graduation speaker and the process used took about five minutes. lucky, hand this week as a major snow- said at the Student Govern- storm passed it by while enveloping ment Association meeting on of seniors were adamant students had not been fundraising strategy. areas as close as 20 miles away, and the Tuesday. -
Rams' Team Travel
PRO FOOTBALL HALL OF FAME TEACHER ACTIVITY GUIDE 2019-2020 EDITIOn LOS AnGELES RAMS Team History One of the National Football League’s oldest franchises, the Rams began their football life in Cleveland in 1937. They did no better than a .500 mark once during their first six seasons. They then disbanded for a year in 1943 because of the manpower shortages of the World War II era. When they finally did record a winning season, they hit the jackpot with a 15-14 victory over the Washington Redskins in the NFL championship game. A sensational rookie quarterback from UCLA, Bob Waterfield, was the league’s Player of the Year. That championship game proved to be the last the Rams would ever play in Cleveland. Dan Reeves, a shrewd businessman and a master innovator who had bought the team in 1941, decided to move the Rams to Los Angeles for the 1946 season. He then signed Kenny Washington and Woody Strode to make them the first two African-American athletes with an NFL contract since 1932. Reeves also instituted the famed “Free Football for Kids” program, providing the groundwork for today’s successful TV policies, and became the first to employ a full-time scouting staff. In their first four seasons on the West Coast, the Rams had to wage a costly head-to-head battle with the intra-city Dons of the All-America Football Conference. Reeves and the Rams suffered mammoth financial losses. But the AAFC folded after the 1949 season just as the Rams were embarking on a string of outstanding seasons on the field. -
National Football League
Sports Facility Reports, Volume 7, Appendix 3 National Football League Team: Arizona Cardinals Principal Owner: William Bidwell Year Established: 1898 Team Website Most Recent Purchase Price ($/Mil): $.05 (1932) Current Value ($/Mil): $673 Percent Change From Last Year: +22% Stadium: Cardinals Stadium Date Built: 2006 Facility Cost (millions): $370.6 Percentage of Stadium Publicly Financed: 72% Facility Financing: The Arizona Sports & Tourism Authority is contributing $266.6 M, most of which will come from a new 1% hotel/motel room tax, a 3.25% car rental tax and a stadium related sales tax approved by Maricopa County in November 2000. The Arizona Cardinals are contributing $104 M. Facility Website UPDATE: The Arizona Cardinals will open the 2006 season in its new $370.6 M, 73,000 seat stadium. The stadium includes a retractable roof, 88 luxury suites and will be the first U.S. stadium to incorporate a rollout natural grass playing field. The field will roll to a location outside of the stadium, allowing the field to get maximum sunshine and will prevent damage to the field while the stadium is used for other functions, such as music concerts. The stadium is being built within a 160-acre site that includes parking for general and premium seating, buses, team, and operations personnel. The Hunt Construction Group is using a new technique in building the stadium. Instead of building by layers, they are building by sections, from the floor to the ceiling. This technique will cut time and allow them to assemble the roof on the stadium © Copyright 2006, National Sports Law Institute of Marquette University Law School Page 1 floor rather than build it in the air. -
Super Bowl Xlvii
SUPER BOWL XLVII n emotionally-charged and perceived the run of losses to be Baltimore’s late-season Athrilling six weeks kicked demise, but the Ravens felt otherwise. As each wintry off the Baltimore Ravens’ 2012 week passed, the team’s resilient chemistry never faded, campaign. Despite playing their nor did its genuine belief that the best was yet to come. first four games in an 18-day span, the Ravens produced a 5-1 record, On Wild Card weekend, before a sellout M&T Bank Stadium marking the best start ever under crowd that celebrated and saluted Ray Lewis in his final home John Harbaugh. Highlighted by a game, Baltimore pummeled the Colts, 24-9, kick-starting an season-opening victory on Monday incredible playoff run. Holding Indy without a touchdown, the Night Football against division foe Ravens’ defense was led by Lewis, who returned to action for the first time since tearing his triceps in Week 6. Cincinnati and an exhilarating, last-second triumph over AFC rival “I think we’re all appreciative, grateful for the opportunity to New England, the Ravens immediately demonstrated the be here and to witness this historic moment in sports,” head type of heart and resolve that would allow them to conquer coach John Harbaugh said after the win. “And, it wasn’t just anything in an NFL season. about one guy [Lewis]. Nobody understands it more than Climbing to 9-2, Baltimore tied (2006) the then-best record the one guy we’re talking about. It was about a team. It was about a city, a fan base, a great sport, about a great career.” to begin a season in franchise history. -
Washington Redskins Pro Football Reference
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Fred Miller, Pro Bowl Defensive Tackle
THE COFFIN CORNER: Vol. 25, No. 4 (2003) Fred Miller, Defensive Tackle From the “Iron Men” of Homer, Louisiana, to the Super Bowl By Jim Sargent When Fred Miller began his final high school season in Homer, Louisiana, in 1957, he shared the same unspoken dreams of most of his teammates. He and his football buddies hoped Homer High would have a good year. Most of his teammates also hoped they could play college football and earn degrees. By the time Miller took off his pads for the last time after the 1972 season, football had provided him with a good life. Fred had anchored the line on Homer’s championship team, received All-American honors on two Louisiana State University bowl-winning squads, won Pro Bowl recognition three times with the Baltimore Colts in the National Football League, and earned a Super Bowl Ring in 1971. In other words, Miller had the ability and the good fortune of playing on outstanding teams at the high school, college, and pro levels. He still has good friends who played alongside him on all three teams. Fed says the camaraderie and the fleeting glory he experienced on those gridirons of three or four decades ago made all of the up-and-downs worthwhile. Born on August 8, 1940, Fred grew up in Homer, a small town in the oil field region of northern Louisiana. Most people in the area loved high school football. The Homer oil field became a boom area in the 1940s after H.L. Hunt drilled his first well within 20 miles.