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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. -
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. -
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 Steam Roller
THE COFFIN CORNER: Vol. 2, No. 3 (1980) THE STEAM ROLLER by John Hogrogian The state of Rhode Island sits squarely in the shadow of Boston as far as major-league professional sports is concerned. Ocean State residents generally take a rooting interest in the Red Sox, Patriots, Celtics, and Bruins. But more than half a century ago, in 1928, Rhode Island had its own National Football League champions, the Providence Steam Roller. The story of that team is the story of an era of professional football much different from that of today. In the Roaring Twenties, the American public found a host of popular heroes in its sporting greats. Standing with Charles Lindbergh on the pedestal of unalloyed admiration were such men as baseball player Babe Ruth, boxer Jack Dempsey, and tennis player Bill Tilden. College football players also shared in this adulation, with Red Grange of Illinois, Ernie Nevers of Stanford, and the Four Horsemen of Notre Dame national figures because of their gridiron exploits. College football was an immensely popular spectator sport, with teams such as Notre Dame, Stanford, Yale, and Dartmouth drawing huge followings both in person and through the newspapers and newsreels. Professional football, in stark contrast, was struggling to survive, a neglected stepchild in the sports boom. The National Football League was entering only its ninth season in the fall of 1928, and instead of roaring crowds in huge metropolitan stadia, small, intimate audiences in mostly smaller fields viewed the league's contests. Pro football held the same place in 1928 that pro track and field holds today, a fledgling professional sport living in the shadow of a popular collegiate version. -
National Football League Franchise Transactions
THE COFFIN CORNER: Vol. 4 (1982) The following article was originally published in PFRA's 1982 Annual and has long been out of print. Because of numerous requests, we reprint it here. Some small changes in wording have been made to reflect new information discovered since this article's original publication. NATIONAL FOOTBALL LEAGUE FRANCHISE TRANSACTIONS By Joe Horrigan The following is a chronological presentation of the franchise transactions of the National Football League from 1920 until 1949. The study begins with the first league organizational meeting held on August 20, 1920 and ends at the January 21, 1949 league meeting. The purpose of the study is to present the date when each N.F.L. franchise was granted, the various transactions that took place during its membership years, and the date at which it was no longer considered a league member. The study is presented in a yearly format with three sections for each year. The sections are: the Franchise and Team lists section, the Transaction Date section, and the Transaction Notes section. The Franchise and Team lists section lists the franchises and teams that were at some point during that year operating as league members. A comparison of the two lists will show that not all N.F.L. franchises fielded N.F.L. teams at all times. The Transaction Dates section provides the appropriate date at which a franchise transaction took place. Only those transactions that can be date-verified will be listed in this section. An asterisk preceding a franchise name in the Franchise list refers the reader to the Transaction Dates section for the appropriate information. -
Annual Awards
ANNUAL AwARDS Rehan Muttalib ’09 TEAM AwARDS Coach bob blackman trophy Jake crouthamel award Kenneth t. young award To the player, selected To the junior or sopho- To the junior or sopho- by the coaching staff, more offensive player, more defensive player, who has contributed selected by the coaching selected by the coaching most to the success of staff, who has contrib- staff, who has contrib- the team . Gift of L . G . uted most to the success uted most to the success Balfour Company . of the team . Gift of Ken- of the team . Gift of Ken- neth Young ’48 . neth Young ’48 . Ian Wilson, SS Tim McManus, WR Peter Pidermann, FS 2008 Winner 2008 Winner 2008 Winner 1959 Bill Gundy, QB 1972 Rick Klupchak, HB 1978 Cody Press, DB 1960 Alan Rozycki, HB 1973 Tom Snickenberger, QB 1979 Jerry Pierce, LB 1961 Gary Spiess, HB 1974 Reggie Williams, LB 1980 Scott Hacker, LB 1962 Bill King, QB 1975 Pat Sullivan, OG 1981 Joe Moore, DB Don McKinnon, C-LB 1976 Sam Coffey, TB 1982 Steve Karol, LB 1963 Scott Creelman, E 1977 Jeff Hickey, LB 1983 Don Pomeroy, LB 1964 Jack McLean, DB 1978 Jeff Dufresne, TB 1984 Peter Kortebein, LB 1965 Ed Long, E 1979 Dave Shula, SE 1985 Tom Ramsey, DT 1966 Pete Walton, FB 1980 George Thompson, OG 1986 Brett Matthews, DB 1967 Steve Luxford, HB 1981 Wayne Ferree, OT 1987 Paul Michael, LB 1968 Randy Wallick, OE 1982 Jack Daly, WR 1988 Kevin Luensmann, DT 1969 Tom Quinn, HB 1983 Rich Weissman, TB 1989 Peter Chapman, DT 1970 John Short, HB 1984 Doug Keare, TE 1990 Sal Sciretto, DB 1971 Stuart Simms, FB 1985 Dave Gabianelli, QB Harry -
Nothing Minor About It the American Association/AFL of 1936-50
THE COFFIN CORNER: Vol. 12, No. 2 (1990) Nothing minor about it The American Association/AFL of 1936-50 By Bob Gill Try as I might, I can’t seem to mention the era before World War II without calling it “the heyday of pro football’s minor leagues.” But it’s not just an idle comment. In the 1930s several flourishing regional “circuits” of independent teams coalesced into outstanding minor leagues. From today’s perspective, one of the least likely locales for such a circuit was the New York-New Jersey area, where fans had the New York Giants and the Brooklyn Dodgers to satisfy their hunger for pro football. Despite that, the area produced the best of all the pre-war minor leagues: the American Association (soon to be immortalized in another best-selling PFRA publication). The AA was formed in June 1936, in response to a proposal by Edwin (Piggy) Simandl, manager of the Orange Tornadoes. Charter members were Brooklyn, Mt. Vernon, New Rochelle, Orange, Passaic, Paterson, Staten Island and White Plains. Several of these cities had been represented in two earlier leagues, the 1932 Eastern League and the 1933 Interstate League, both of which failed after a single season. However, those leagues didn’t have Joe Rosentover as president. Despite the early demise of his own Passaic club, Rosentover remained at the helm of the league for its whole existence. The AA’s first season was somewhat like that of its main rival, the Dixie League, which also opened for business in 1936. No team established any clear superiority, and at the end of November Rosentover announced a playoff series matching the top four teams, two each from what the newspapers sometimes called the New York group and the New Jersey group. -
The Staten Island Stapletons
THE COFFIN CORNER: Vol. 7, No. 6 (1985) THE STATEN ISLAND STAPLETONS By John Hogrogian Special thanks to N.F.L. Properties, Inc. for permission to publish this article. Trollies rolled down Broadway and Calvin Coolidge was president when the NFL came to New York City in 1925. In the years since Tim Mara founded the Giants, NFL teams have made their home in each of the City's five boroughs. The Giants played in the Polo Grounds in upper Manhattan through 1955, then moved to Yankee Stadium in the Bronx through 1973. The Brooklyn Dodgers football team thrived in Ebbets Field during the 1930s and 1940s. The Jets made their home in Shea Stadium in Queens from 1964 until recently. And, in the sleepiest of the boroughs, the Staten Island Stapletons played NFL ball from 1929 through 1932. The Stapes struggled through life on a shoestring, but helped keep the NFL afloat as it fought for life in the Depression. The Stapes started out in 1915, five years before the NFL was born in the midwest. Dan Blaine, a good halfback and a native of the working-class neighborhood known as Stapleton, along with three other players formed the team to play other semi-pro squads from New York and New Jersey. The Stapes played more for fun than money. Just as well: crowds were small; salaries averaged $10 per game. Nevertheless, they managed to do well, winning several local semi-pro titles before World War I. After military service, Blaine took over sole ownership in 1919. Blaine himself prospered in the 1920s. -
1925:Red Equals Green
The Professional Football Researchers Association Red Equals Green 1925 By Bob Carroll In Joe Carr's Master Plan, the National Football League would rid independently since 1915 and were better prepared for the NFL itself of lesser municipalities like Evansville, Hammond, Green Bay, than any team in Boston, a city Carr might have preferred. even his own Columbus, and play exclusively in the nation's largest cities. He'd gained a Philadelphia team in 1924 (although Frankford Carr also brought Detroit back into the league under the actually played in a suburb). Chicago had the Bears and Cardinals. management of Jimmy Conzelman. Although it was never stated Cleveland was the league champ. It was time to get serious about officially, Conzelman apparently got a free ride on the guarantee New York. fee and did not even have to put up the $500 franchise fee. The situation had improved in Gotham. A new law on the books Something similar was done about Canton. The home of the made it legal to play pro football on Sundays. Carr approached original Bulldogs was not on Carr's "must" list, but it had promoter Billy Gibson, who'd had a stake in the 1921 Brickley sentimental support as well as some very vocal fans. A new team Giants. Gibson wasn't interested in going it alone, but he knew was set up to be run by some of the old Bulldog players. Wilbur someone who was, and he sent Carr to see Tim Mara, a New York Henry and Harry Robb came back from Pennsylvania, and Sam bookmaker. -
NFL 1926 in Theory & Practice
THE COFFIN CORNER: Vol. 24, No. 3 (2002) One division, no playoffs, no championship game. Was there ANY organization to pro football before 1933? Forget the official history for a moment, put on your leather thinking cap, and consider the possibilities of NFL 1926 in Theory and Practice By Mark L. Ford 1926 and 2001 The year 1926 makes an interesting study. For one thing, it was 75 years earlier than the just completed season. More importantly, 1926, like 2001, saw thirty-one pro football teams in competition. The NFL had a record 22 clubs, and Red Grange’s manager had organized the new 9 team American Football League. Besides the Chicago Bears, Green Bay Packers and New York Giants, and the Cardinals (who would not move from Chicago until 1959), there were other team names that would be familiar today – Buccaneers (Los Angeles), Lions (Brooklyn), Cowboys (Kansas City) and Panthers (Detroit). The AFL created rivals in major cities, with American League Yankees to match the National League Giants, a pre-NBA Chicago Bulls to match the Bears, Philadelphia Quakers against the Philly-suburb Frankford Yellowjackets, a Brooklyn rival formed around the two of the Four Horsemen turned pro, and another “Los Angeles” team. The official summary of 1926 might look chaotic and unorganized – 22 teams grouped in one division in a hodgepodge of large cities and small towns, and is summarized as “Frankford, Chicago Bears, Pottsville, Kansas City, Green Bay, Los Angeles, New York, Duluth, Buffalo, Chicago Cardinals, Providence, Detroit, Hartford, Brooklyn, Milwaukee, Akron, Dayton, Racine, Columbus, Canton, Hammond, Louisville”. -
National Pastime a REVIEW of BASEBALL HISTORY
THE National Pastime A REVIEW OF BASEBALL HISTORY CONTENTS The Chicago Cubs' College of Coaches Richard J. Puerzer ................. 3 Dizzy Dean, Brownie for a Day Ronnie Joyner. .................. .. 18 The '62 Mets Keith Olbermann ................ .. 23 Professional Baseball and Football Brian McKenna. ................ •.. 26 Wallace Goldsmith, Sports Cartoonist '.' . Ed Brackett ..................... .. 33 About the Boston Pilgrims Bill Nowlin. ..................... .. 40 Danny Gardella and the Reserve Clause David Mandell, ,................. .. 41 Bringing Home the Bacon Jacob Pomrenke ................. .. 45 "Why, They'll Bet on a Foul Ball" Warren Corbett. ................. .. 54 Clemente's Entry into Organized Baseball Stew Thornley. ................. 61 The Winning Team Rob Edelman. ................... .. 72 Fascinating Aspects About Detroit Tiger Uniform Numbers Herm Krabbenhoft. .............. .. 77 Crossing Red River: Spring Training in Texas Frank Jackson ................... .. 85 The Windowbreakers: The 1947 Giants Steve Treder. .................... .. 92 Marathon Men: Rube and Cy Go the Distance Dan O'Brien .................... .. 95 I'm a Faster Man Than You Are, Heinie Zim Richard A. Smiley. ............... .. 97 Twilight at Ebbets Field Rory Costello 104 Was Roy Cullenbine a Better Batter than Joe DiMaggio? Walter Dunn Tucker 110 The 1945 All-Star Game Bill Nowlin 111 The First Unknown Soldier Bob Bailey 115 This Is Your Sport on Cocaine Steve Beitler 119 Sound BITES Darryl Brock 123 Death in the Ohio State League Craig -
DCAD Football
20072007 BBIGIG GGREENREEN SSTATISTICSTATISTICS Ben Geoke vs Brown 2007 BIG GREEN STATISTICS Team Statistics Third Down Conv. 52-139 66-141 Third Down Pct. 37.0 47.0 Overall Record: Won 3 Lost 7 Tied 0 Fourth Down Conv. 14-22 12-24 Ivy League: Won 3 Lost 4 Tied 0 Fourth Down Pct. 64.0 50.0 Sacks By-Yards 12-84 23-142 Date Opponent Attendance Score Misc Yard 36 23 9/15 Colgate 5,115 (OT) 28-31 Possession Time 29:26 30:34 9/22 at New Hampshire 9,560 31-52 Attendance 27492 55528 9/29 Penn* 5,929 21-13 Games/Ave. 5/5498 5/11106 10/6 at Yale* 24,237 10-50 10/13 at Holy Cross 5,607 15-41 Individual Statistics 10/20 Columbia* 8,720 37-28 Returnees in CAPS 10/27 at Harvard* 11,005 21-28 Rushing GP Att Gain Loss Net Ave TD Long Game 11/3 Cornell* 3,711 59-31 MILAN WILLIAMS 8 123 690 33 657 5.3 3 42 82.1 11/10 at Brown* 5,119 35-56 ROB MITCHELSON 9 67 254 24 230 3.4 0 18 25.6 11/17 Princeton* 4,017 (OT) 14-17 NATE SERVIS 9 49 232 18 214 4.4 1 56 23.8 *=Ivy League Tom Bennewitz 10 60 239 121 118 2.0 2 32 11.8 Score by Periods 1 2 3 4 OT Total HUDSON SMYTHE 10 30 76 7 69 2.3 4 24 6.9 Dartmouth 63 65 56 87 0 271 Ryan Mahoney 10 20 63 0 63 3.2 3 11 6.3 Opponents 82 85 93 81 6 347 TIM McMANUS 10 7 52 2 50 7.1 0 21 5.0 ALEX JENNY 10 20 74 47 27 1.4 0 11 2.7 Dart Opp Julian Collins 10 2 7 0 7 2.3 0 4 0.7 Points 271 347 JOEY ZIMRING 2 1 0 0 0 0.0 0 0 0.0 Points per Game 27.1 34.7 MAX HEIGES 1 1 0 4 -4 -4.0 0 0 -4.0 Touchdowns 37 45 Team 6 6 0 7 -7 -1.2 0 0 -1.2 Field Goals-Att.