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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. -
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. -
Milwaukee's Bid for a 2Nd NFL Franchise
THE COFFIN CORNER: Vol. 14, No. 5 (1992) Requiem for the Nighthawks Milwaukee’s bid for a 2nd NFL franchise lays an egg in 1930 By Bob GIll As the NFL moved into its second decade, commissioner Joe Carr’s long-range plans for the league were beginning to take shape. In the latter part of the 1920s, most of the league’s small-town teams had dropped out, replaced by teams from bigger cities. Gone were the likes of Hammond, Kenosha, Evansville, Pottsville, Dayton, and even Canton. Instead, newer teams in New York and Philadelphia (Frankford) had staked out potentially more lucrative territory – though in the latter case, the Frankford Yellowjackets didn’t survive the curse of the Depression. Only three “small towns” were left: Staten Island, Portsmouth and Green Bay. Of the three, Staten Island had the best prospects for long-term success, able to draw from New York’s huge population base. Doopite that advantage, the Stapletons dropped out of the league after the 1932 season. Portsmouth was probably the worst bet; the Spartans admitted defeat in 1934 when they moved to Detroit. Somewhere in between was Green Bay. The Packers’ population base wasn’t much different from Portsmouth’s, but the team had established a following since joining the NFL in 1921, and winning the title in 1929 hadn’t hurt, either. Still, Carr couldn’t have had very high hopes for the team, considering the economic climate and the poor track record of teams from much bigger towns. Partly for these reasons, Carr had always looked favorably on the idea of putting a team in Milwaukee, which would provide a natural rival for the Packers. -
Hinkey Haines: the Giants' First Superstar
THE COFFIN CORNER: Vol. 4, No. 2 (1982) HINKEY HAINES: THE GIANTS' FIRST SUPERSTAR By C.C. Staph Oh Hinkey Haines, oh Hinkey Haines! The New York Giants' football brains. He never loses, always gains. Oh Hinkey Haines, oh Hinkey Haines! -- anonymous New York sportswriter, 1926 Hinkey Haines was one of those running backs who blaze across the NFL sky for only a short time, yet burn so brightly that they are honored long after their last touchdown. Gale Sayers is a recent example; George McAfee was another. Haines completed his playing career before the league began keeping statistics. As a consequence, he is remembered not for huge yardage totals but for brilliant individual performances. During his short but spectacular career, he put together enough outstanding plays to be ranked with Grange, Driscoll, and Nevers as one of the great runners of his time. He was a phenomenal breakaway runner, famous for his speed. Bob Folwell, the New York Giants' first coach, insisted that in his twenty years of coaching he had never seen a faster man on the gridiron than Haines. If he were playing today, he would almost surely be turned into a wide receiver. Even in those rather pass-sparse days, Hinkey scored several of his most spectacular touchdowns on passes. On punt and kickoff returns, he was deadly. He joined the Giants in 1925 at the comparatively ripe age of 26. For four years, he was the toast of New York. He put in one more season with the Staten Island Stapletons and then retired. He was lured back in 1931 as player-coach of the Stapes, but, at 32, he played only sparingly. -
Statistical Leaders of the ‘20S
THE COFFIN CORNER: Vol. 14, No. 2 (1992) Statistical Leaders of the ‘20s By Bob GIll Probably the most ambitious undertaking in football research was David Neft’s effort to re-create statistics from contemporary newspaper accounts for 1920-31, the years before the NFL started to keep its own records. Though in a sense the attempt had to fail, since complete and official stats are impossible, the results of his tireless work provide the best picture yet of the NFL’s formative years. Since the stats Neft obtained are far from complete, except for scoring records, he refrained from printing yearly leaders for 1920-31. But it seems a shame not to have such a list, incomplete though it may be. Of course, it’s tough to pinpoint a single leader each year; so what follows is my tabulation of the top five, or thereabouts, in passing, rushing and receiving for each season, based on the best information available – the stats printed in Pro Football: The Early Years and Neft’s new hardback edition, The Football Encyclopedia. These stats can be misleading, because one man’s yardage total will be based on, say, five complete games and four incomplete, while another’s might cover just 10 incomplete games (i.e., games for which no play-by-play accounts were found). And then some teams, like Rock Island, Green Bay, Pottsville and Staten Island, often have complete stats, based on play-by-plays for every game of a season. I’ll try to mention variations like that in discussing each year’s leaders – for one thing, “complete” totals will be printed in boldface. -
PLAY BALL! MAJOR LEAGUE BASEBALL in BLOOMSBURG Did
PLAY BALL! MAJOR LEAGUE BASEBALL IN BLOOMSBURG Did you ever dream of seeing major league baseball in Columbia County? It happened once in the past. During the recent American League Divisional Championship series between the New York Yankees and the Detroit Tigers, a few Columbia County long-time baseball fans were reminded of the series played between those same two teams at the Bloomsburg Fair in October 1925. The two major-league teams were scheduled for a three-game series during Fair week. They played on an improvised field on the racetrack infield in front of the grandstand. Each squad brought to town only the bare minimum of players; the Yankee pitchers when they were not on the mound played in the outfield. Two games were completed; the third day’s game was rained out and couldn’t be rescheduled because the teams left town for an engagement in Wilkes-Barre. The Tigers won both games, but both were close, exciting contests. The games were slated at 10:00am each day so as not to conflict with the trotting races held in the afternoons. Apparently, the Fair Board was hoping that the major leaguers would draw folks to the Fair in the usually-slack morning hours. And the scheme worked – the games drew upwards of 10,000 fans each day. At the time, the grandstand capacity was only 2,000, so the other fans crowded the railing around the oval track. In 1925 the Yankees were in the middle of their storied 1920s championship era. With Babe Ruth and Lou Gehrig as mainstays, this was arguably the greatest baseball team ever assembled. -
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. -
The Ursinus Weekly, May 22, 1950
Ursinus College Digital Commons @ Ursinus College Ursinus Weekly Newspaper Newspapers 5-22-1950 The Ursinus Weekly, May 22, 1950 Willard Wetzel Ursinus College Douglas MacMullan Ursinus College Dick Hector Ursinus College Follow this and additional works at: https://digitalcommons.ursinus.edu/weekly Part of the Cultural History Commons, Higher Education Commons, Liberal Studies Commons, Social History Commons, and the United States History Commons Click here to let us know how access to this document benefits ou.y Recommended Citation Wetzel, Willard; MacMullan, Douglas; and Hector, Dick, "The Ursinus Weekly, May 22, 1950" (1950). Ursinus Weekly Newspaper. 594. https://digitalcommons.ursinus.edu/weekly/594 This Book is brought to you for free and open access by the Newspapers at Digital Commons @ Ursinus College. It has been accepted for inclusion in Ursinus Weekly Newspaper by an authorized administrator of Digital Commons @ Ursinus College. For more information, please contact [email protected]. BACCALAUREATE COMMENCEMENT SERVICE, SUNDAY EXERCISES, MONDAY JUNE4 JUNE 5 Vol 49, No. 24 MONDAY, MAY 22, 1950 Price, Ten Cents Ursinus Institutes Chapter ATTENTION SENIORS ! This Wednesday at 7 :00 p.m. iTitus and Mutch to Address in rm. 6, a i·ep1·esentative of the North America Companies will Of Social Science Society talk . to all seniors who are in terested in a straight salary job. 'Large_st Graduating Cla~s Thirty-seven students and mem state officer of the organization, These jobs will not consist of bers of the faculty became charter wa$ instrumental in organizing a I selling and do not concern life membel'S of Pi Gamma Mu, nation chapter at Ursinus, along with Rus- j insurance. -
2010 BIG GREEN MEDIA GUIDE the 2010 BIG GREEN
Senior Captain Robert Young Baseball America Preseason All-Ivy 2010 BIG GREEN MEDIA GUIDE The 2010 BIG GREEN Front Row (l-r): Chad Piersma, Zack Bellenger, Kyle Hunter, Ennis Coble, Spencer Venegas, Matt Peterson, Chris O’Dowd, Michael Johnson. Middle row (l-r): Ezra Josephson, Jim Wren, Robert Young, Jake Pruner, Jeff Onstott, Joe Sclafani, Kyle Hendricks, Ryan Smith, Max Langford. Back row (l-r): Assistant Coach Nicholas Enriquez, Assistant Coach Jonathan Anderson, Jason Brooks, David Turnbull, Brett Gardner, Brandon Parks, Dan Ternowchek, Colin Britton, Ben Murray, Cole Sulser, Jake Carlson, Marco Mariscal, Head Coach Bob Whalen. Sophomore Sophomore Junior Junior Kyle Hendricks Joe Sclafani Jeff Onstott Ryan Smith Baseball America Baseball America Baseball America Baseball America Preseason Ivy Pitcher of the Year Preseason Ivy Player of the Year Preseason All-Ivy Preseason All-Ivy Contents/QuiCk FaCts InformatIon 1-2 QuIck facts Table of Contents, Quick Facts . 1 Location . Hanover, N .H . Media Information . 2 Founded/Enrollment . 1769/4,200 Nickname . Big Green Colors . Green and White Conference . Ivy League President . Dr . Jim Yong Kim Acting Athletics Director . .Robert Ceplikas Home Field . Red Rolfe Field at Biondi Park (1,300) the opponents 37-42 Dimensions . LF - 325, CF - 403, RF - 340 Press Box . .603-646-6937 Akron, Bethune-Cookman, Boston College, Bradley, Brown, Bucknell . 38 Head Coach . Bob Whalen (Maine ’79) Columbia, Cornell, Hartford, the Dartmouth Record at Dartmouth (Years) . 376-395-1 (20) Harvard, Holy Cross, Illinois . 39 Overall Record (Years) . 376-395-1 (20) experIence 3-12 Long Island, Northwestern, Ohio State,, Office Phone . .603-646-2477 Dartmouth College . -
Supplement 1
*^b THE BOOK OF THE STATES .\ • I January, 1949 "'Sto >c THE COUNCIL OF STATE'GOVERNMENTS CHICAGO • ••• • • ••'. •" • • • • • 1 ••• • • I* »• - • • . * • ^ • • • • • • 1 ( • 1* #* t 4 •• -• ', 1 • .1 :.• . -.' . • - •>»»'• • H- • f' ' • • • • J -•» J COPYRIGHT, 1949, BY THE COUNCIL OF STATE GOVERNMENTS jk •J . • ) • • • PBir/Tfili i;? THE'UNIfTED STATES OF AMERICA S\ A ' •• • FOREWORD 'he Book of the States, of which this volume is a supplement, is designed rto provide an authoritative source of information on-^state activities, administrations, legislatures, services, problems, and progressi It also reports on work done by the Council of State Governments, the cpm- missions on interstate cooperation, and other agencies concepned with intergovernmental problems. The present suppkinent to the 1948-1949 edition brings up to date, on the basis of information receivjed.from the states by the end of Novem ber, 1948^, the* names of the principal elective administrative officers of the states and of the members of their legislatures. Necessarily, most of the lists of legislators are unofficial, final certification hot having been possible so soon after the election of November 2. In some cases post election contests were pending;. However, every effort for accuracy has been made by state officials who provided the lists aiid by the CouncJLl_ of State Governments. » A second 1949. supplement, to be issued in July, will list appointive administrative officers in all the states, and also their elective officers and legislators, with any revisions of the. present rosters that may be required. ^ Thus the basic, biennial ^oo/t q/7^? States and its two supplements offer comprehensive information on the work of state governments, and current, convenient directories of the men and women who constitute those governments, both in their administrative organizations and in their legislatures.