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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. -
Cotton Bowl Improvements and Funding Strategies
Cotton Bowl Potential Improvements and Funding Strategies City Council Briefing December 5, 2005 1 Introduction The City of Dallas has the opportunity to secure long-term commitments from NCAA football teams to play at the Cotton Bowl No construction will begin nor City funding allocated until long-term commitments are in place from the universities These commitments drive the need for increased seating capacity by Fall 2006 The City must begin the process now to allow for Phase 1 construction completion by Fall 2006 2 Briefing Goals Present Cotton Bowl improvement options to position it as a premier college football and international soccer venue Present implementation strategies and timelines Present conceptual cost estimates Receive City Council concurrence to begin the process of the implementation strategy 3 History Fair Park Stadium was constructed in 1930 during the height of the Great Depression Seating capacity: 46,200 (the largest stadium in the South) 4 History In 1936 the stadium was incorporated into the general layout of the Texas Centennial Exposition The stadium was officially renamed the “Cotton Bowl” in 1936 5 History In the first Cotton Bowl game, held on January 1, 1937, the TCU Horned Frogs defeated the Marquette Golden Avalanche, 16-6 6 History The upper decks were added in 1948 and 1949 when the Cotton Bowl served as home to the SMU Mustangs Seating capacity increased to 72,000 7 History In 1952, the Cotton Bowl was home to Dallas’ first NFL team, the Dallas Texans (Baltimore Colts) In 1960, the -
Yankee Stadium and the Politics of New York
The Diamond in the Bronx: Yankee Stadium and The Politics of New York NEIL J. SULLIVAN OXFORD UNIVERSITY PRESS THE DIAMOND IN THE BRONX This page intentionally left blank THE DIAMOND IN THE BRONX yankee stadium and the politics of new york N EIL J. SULLIVAN 1 3 Oxford New York Athens Auckland Bangkok Bogotá Buenos Aires Calcutta Cape Town Chennai Dar es Salaam Delhi Florence Hong Kong Istanbul Karachi Kuala Lumpur Madrid Melbourne Mexico City Mumbai Nairobi Paris São Paolo Shanghai Singapore Taipei Tokyo Toronto Warsaw and associated companies in Berlin Ibadan Copyright © 2001 by Oxford University Press Published by Oxford University Press, Inc. 198 Madison Avenue, New York, New York 10016 Oxford is a registered trademark of Oxford University Press All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of Oxford University Press. Library of Congress Cataloging-in-Publication Data is available. ISBN 0-19-512360-3 135798642 Printed in the United States of America on acid-free paper For Carol Murray and In loving memory of Tom Murray This page intentionally left blank Contents acknowledgments ix introduction xi 1 opening day 1 2 tammany baseball 11 3 the crowd 35 4 the ruppert era 57 5 selling the stadium 77 6 the race factor 97 7 cbs and the stadium deal 117 8 the city and its stadium 145 9 the stadium game in new york 163 10 stadium welfare, politics, 179 and the public interest notes 199 index 213 This page intentionally left blank Acknowledgments This idea for this book was the product of countless conversations about baseball and politics with many friends over many years. -
Nagurski's Debut and Rockne's Lesson
THE COFFIN CORNER: Vol. 20, No. 3 (1998) NAGURSKI’S DEBUT AND ROCKNE’S LESSON Pro Football in 1930 By Bob Carroll For years it was said that George Halas and Dutch Sternaman, the Chicago Bears’ co-owners and co- coaches, always took opposite sides in every minor argument at league meetings but presented a united front whenever anything major was on the table. But, by 1929, their bickering had spread from league politics to how their own team was to be directed. The absence of a united front between its leaders split the team. The result was the worst year in the Bears’ short history -- 4-9-2, underscored by a humiliating 40-6 loss to the crosstown Cardinals. A change was necessary. Neither Halas nor Sternaman was willing to let the other take charge, and so, in the best tradition of Solomon, they resolved their differences by agreeing that neither would coach the team. In effect, they fired themselves, vowing to attend to their front office knitting. A few years later, Sternaman would sell his interest to Halas and leave pro football for good. Halas would go on and on. Halas and Sternaman chose Ralph Jones, the head man at Lake Forest (IL) Academy, as the Bears’ new coach. Jones had faith in the T-formation, the attack mode the Bears had used since they began as the Decatur Staleys. While other pro teams lined up in more modern formations like the single wing, double wing, or Notre Dame box, the Bears under Jones continued to use their basic T. -
The Role of Preferences, Cognitive Biases, and Heuristics Among Professional Athletes Michael A
Brooklyn Law Review Volume 71 | Issue 4 Article 1 2006 It's Not About the Money: The Role of Preferences, Cognitive Biases, and Heuristics Among Professional Athletes Michael A. McCann Follow this and additional works at: https://brooklynworks.brooklaw.edu/blr Recommended Citation Michael A. McCann, It's Not About the Money: The Role of Preferences, Cognitive Biases, and Heuristics Among Professional Athletes, 71 Brook. L. Rev. (2006). Available at: https://brooklynworks.brooklaw.edu/blr/vol71/iss4/1 This Article is brought to you for free and open access by the Law Journals at BrooklynWorks. It has been accepted for inclusion in Brooklyn Law Review by an authorized editor of BrooklynWorks. ARTICLES It’s Not About the Money: THE ROLE OF PREFERENCES, COGNITIVE BIASES, AND HEURISTICS AMONG PROFESSIONAL ATHLETES Michael A. McCann† I. INTRODUCTION Professional athletes are often regarded as selfish, greedy, and out-of-touch with regular people. They hire agents who are vilified for negotiating employment contracts that occasionally yield compensation in excess of national gross domestic products.1 Professional athletes are thus commonly assumed to most value economic remuneration, rather than the “love of the game” or some other intangible, romanticized inclination. Lending credibility to this intuition is the rational actor model; a law and economic precept which presupposes that when individuals are presented with a set of choices, they rationally weigh costs and benefits, and select the course of † Assistant Professor of Law, Mississippi College School of Law; LL.M., Harvard Law School; J.D., University of Virginia School of Law; B.A., Georgetown University. Prior to becoming a law professor, the author was a Visiting Scholar/Researcher at Harvard Law School and a member of the legal team for former Ohio State football player Maurice Clarett in his lawsuit against the National Football League and its age limit (Clarett v. -
Dodgers and Giants Move to the West: Causes and Effects an Honors Thesis (HONRS 499) by Nick Tabacca Dr. Tony Edmonds Ball State
Dodgers and Giants Move to the West: Causes and Effects An Honors Thesis (HONRS 499) By Nick Tabacca Dr. Tony Edmonds Ball State University Muncie, Indiana May 2004 May 8, 2004 Abstract The history of baseball in the United States during the twentieth century in many ways mirrors the history of our nation in general. When the Brooklyn Dodgers and New York Giants left New York for California in 1957, it had very interesting repercussions for New York. The vacancy left by these two storied baseball franchises only spurred on the reason why they left. Urban decay and an exodus of middle class baseball fans from the city, along with the increasing popularity of television, were the underlying causes of the Giants' and Dodgers' departure. In the end, especially in the case of Brooklyn, which was very attached to its team, these processes of urban decay and exodus were only sped up when professional baseball was no longer a uniting force in a very diverse area. New York's urban demographic could no longer support three baseball teams, and California was an excellent option for the Dodger and Giant owners. It offered large cities that were hungry for major league baseball, so hungry that they would meet the requirements that Giants' and Dodgers' owners Horace Stoneham and Walter O'Malley had asked for in New York. These included condemnation of land for new stadium sites and some city government subsidization for the Giants in actually building the stadium. Overall, this research shows the very real impact that sports has on its city and the impact a city has on its sports. -
On Arrest of Sit-Ins
Fair, cold tonight. Low !• to 24. Increasing ^oudiaess Tnssdajr, Highest temperatare In 40s. Manchester— A City of Village Charm -------------- ■ VDL. LXXX, NO. 143 TOURTEEN PAGES— PLUS TWELVE PAGE TABLOID MANCHESTER, CONN., MONDAY, MARCH 20, 1961 (ClMiUied Advertltlng on Page IS) PRICE FIVE CENTS Blacks, Whites Riot State News Kennedy Seeks Roundup $500 Million In Johannesburg as Budget Bpifet I Autopsy Shows Washington, March 20 (/P) Voerwoerd Returns —President Kennedy, askeci Driver, 60, Died Congress today to boost ne.xt Johannesburer, South Afri-t At the same time, security po Of Lung Injury year’s budget by nearly $500 ca, March 20 (/P)— Fighting lice in nationwide raids arrested million. broke out between blacks and 10 African NationaUst leaders to He sought', among other things, On Arrest of Sit-ins head off possible demonstrations Groton, March 20 (^)—The additional, funds to step up State whites outside Johannesburg tomorrow, first anniversary of the death of a motorist who was Department activities in Africa, City Hall today as Prime Min day white police killed 60 Africans being held in a cell at the strengthen the U.S. Information ister Hendrik F. Verwoerd re and wounded 180 others at Sharpe- Agency’s program in Africa and vllle. State Police Troop here has Latin America and expand the Louisiana’s turned from a conference in Verwoerd was met at Jan Smuts been attribnted to a build-up U.S. staff at the United Nations. London during which he an Airport, 15 miles outside Johanes- of fluid in his lungs as a re Kennedy also proposed increases nounced South Africa is leav burg, by lieveral thousand whites. -
1920 Akron Pros Ken Crippen
Building a Champion: 1920 Akron Pros Ken Crippen BUILDING A CHAMPION: 1920 AKRON PROS By Ken Crippen It’s time to dig deep into the archives to talk about the first National Football League (NFL) champion. In fact, the 1920 Akron Pros were champions before the NFL was called the NFL. In 1920, the American Professional Football Association was formed and started play. Currently, fourteen teams are included in the league standings, but it is unclear as to how many were official members of the Association. Different from today’s game, the champion was not determined on the field, but during a vote at a league meeting. Championship games did not start until 1932. Also, there were no set schedules. Teams could extend their season in order to try and gain wins to influence voting the following spring. These late-season games were usually against lesser opponents in order to pad their win totals. To discuss the Akron Pros, we must first travel back to the century’s first decade. Starting in 1908 as the semi-pro Akron Indians, the team immediately took the city championship and stayed as consistently one of the best teams in the area. In 1912, “Peggy” Parratt was brought in to coach the team. George Watson “Peggy” Parratt was a three-time All-Ohio football player for Case Western University. While in college, he played professionally for the 1905 Shelby Blues under the name “Jimmy Murphy,” in order to preserve his amateur status. It only lasted a few weeks until local reporters discovered that it was Parratt on the field for the Blues. -
Nfl Announces Plans to Celebrate 100Th Season
FOR USE AS DESIRED 8/1/19 NFL ANNOUNCES PLANS TO CELEBRATE 100TH SEASON Season-long initiatives to celebrate players, teams, communities and fans; Get ready for a ‘Fantennial’ near you A journey of 100 seasons began with a single step. For the National Football League, that step was made by RALPH HAY, owner of the Canton Bulldogs. Hay’s simple initiative was to invite owners of three other Ohio teams – the Dayton Triangles, Cleveland Indians and Akron Pros – to a meeting at his Canton auto showroom to discuss forming a league. Three issues prompted the meeting: Dramatically rising salaries, players jumping from one team to another following the highest offers, and teams illegally using players still in college. That initial meeting conceived the foundation of the league, originally called the American Professional Football Association, on August 20, 1920. A second step was to schedule another meeting. This time, Hay flexed his vision, writing to invite several other pro teams. Perhaps the most significant letter was to future Pro Football Hall of Famer GEORGE HALAS, the player-coach of the Decatur Staleys and eventual Chicago Bears. At that second meeting in Hay’s showroom, held on September 17, 1920, Halas sat on the running board of a brand-new Hupmobile and, for the first of many important instances, modeled a league-above-team perspective that critically shaped the genesis and longevity of the new organization. Countless steps, strides and leaps later, the NFL embarks on its 100th season when the Atlanta Falcons meet the Denver Broncos in Canton’s Tom Benson Stadium for this year’s Hall of Fame Game. -
Baylor Bears
BAYLOR BEARS SCHEDULE QUICK FACTS February Location __________________________________ Waco, Texas 18 Oral Roberts 4:00 p.m. Founded ______________________________________ 1845 19 Oral Roberts 2:00 p.m. Enrollment ____________________________________ 14,900 20 Oral Roberts 1:00 p.m. Nickname ______________________________________Bears 22 TCU 4:00 p.m. Colors ________________________________ Green and Gold 25 at Georgia 4:00 p.m. Website ______________________________ BaylorBears.com 26 at Georgia 1:00 p.m. Home Stadium (Capacity) _____________ Baylor Ballpark (5,000) 27 at Georgia Noon Dimensions _______________________LF-330; CF-400; RF-330 March Surface _________________________________ Natural Grass 4 vs. Houston Noon President ___________________________________Ken Starr 5 vs. Utah Noon Director of Athletics __________________________Ian McCaw 6 vs. Rice 2:30 p.m. Faculty Athletics Representative _______________Michael Rogers 8 at Texas State 6:30 p.m. Senior Woman Administrator __________________ Nancy Post 10 Louisiana Tech 6:30 p.m. Baseball Media Relations Contact ________________David Kaye 11 Louisiana Tech 6:30 p.m. Kaye Office Phone _________________________254/710-4389 12 Louisiana Tech 3:00 p.m. Kaye Cell Phone ___________________________254/709-5147 13 Louisiana Tech 2:00 p.m. Kaye E-mail [email protected] 15 Florida International 6:30 p.m. Press Box Phone __________________________254/754-5546 18 Texas Tech* 6:30 p.m. 2010 Record ____________________ 36-24 (12-13 Big 12, 6th) 19 Texas Tech* 3:00 p.m. Lettermen Returning/Lost __________________________19/10 20 Texas Tech* 1:00 p.m. Position Starters Returning/Lost ______________________ 8/2 22 UT-Arlington 6:30 p.m. Pitchers Returning/Lost ____________________________ 11/4 25 Kansas State* 6:30 p.m. -
Information to Users
INFORMATION TO USERS This manuscript has been reproduced from the microfilm master. UMI films the text directly from the original or copy submitted. Thus, some thesis and dissertation copies are in typewriter face, while others may be from any type of computer printer. The quality of this reproduction is dependent upon the quality of the copy submitted. Broken or indistinct print, colored or poor quality illustrations and photographs, print bleedthrough, substandard margins, and improper alignment can adversely affect reproduction. In the unlikely event that the author did not send UMI a complete manuscript and there are missing pages, these will be noted. Also, if unauthorized copyright material had to be removed, a note will indicate the deletion. Oversize materials (e.g., maps, drawings, charts) are reproduced by sectioning the original, beginning at the upper left-hand comer and continuing from left to right in equal sections with small overlaps. Each original is also photographed in one exposure and is included in reduced form at the back of the book. Photographs included in the original manuscript have been reproduced xerographically in this copy. IDgher quality 6” x 9” black and white photographic prints are available for any photographs or illustrations appearing in this copy for an additional charge. Contact UMI directly to order. UMI A Bell & HoweU Information Compaiy 300 North Zeeb Road, Ann Arbor MI 48106-1346 USA 313/761-4700 800/521-0600 OUTSIDE THE LINES: THE AFRICAN AMERICAN STRUGGLE TO PARTICIPATE IN PROFESSIONAL FOOTBALL, 1904-1962 DISSERTATION Presented in Partial Fulfillment of the Requirements for the Degree Doctor of Philosophy in the Graduate School of The Ohio State U niversity By Charles Kenyatta Ross, B.A., M.A. -
1938 DUKE FOOTBALL Clarkston Hines for a 97-Yard Touch- Unbeaten G Untied G Unscored Upon Down to Establish Duke’S Longest Play from Scrimmage
TRADITION G PAGE 164 TRADITION G PAGE 165 DUKE FOOTBALL TIMELINE Wallace Wade Jerry Barger November 29, 1888 November 16, 1935 1940 NFL Draft November 19, 1949 Trinity College, which would become Duke’s Jack Alexander rushes for 193 Duke’s George McAfee becomes the The crowd of 57,500, Duke’s largest to Duke University in 1924, defeats the yards as the Blue Devils post a 25-0 second overall pick in the draft and is date, pour into what is now Wallace University of North Carolina, 16-0, in victory over North Carolina ... Duke selected by the Philadelphia Eagles ... Wade Stadium to see Duke lose to the fi rst game of college football played fi nished the year with an 8-2 ledger. Tennessee’s George Cafego, chosen by North Carolina in a hard-fought 21-20 below the Mason-Dixon line. the Cardinals, is the top pick. decision. October 10, 1936 November 14, 1891 Duke defeats Clemson, 25-0, in the third 1941 Season November 4, 1950 The Trinity College football team de- and fi nal meeting between ledgendary Over the course of the season, Duke In the last of fi ve coaching battles feats Furman 96-0 ... The 1891 sqaud head coaches Wallace Wade and Jess manages to outscore its opponents by between legendary coaches Wallace went on to an undefeated 3-0 record Neely ... The Blue Devils won all three an astounding 266 points en route to its Wade of Duke and Bobby Dodd of that year, also posting wins over North showdowns. second appearance in the Rose Bowl ..