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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. -
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. -
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. -
S Caden Sterns
7 CADEN STERNS POSITION DB HEIGHT 6‐1 HOMETOWN Cibolo, Texas WEIGHT 207 CLASS Junior HIGH SCHOOL Steele MAJOR Sport Management A three‐year defensive back who played in 29 games with 28 career starts … served as a team captain as a junior … a preseason watch list candidate for the Bronko Nagurski Trophy, Chuck Bednarik Award and Jim Thorpe Award in 2020 … also chosen to the All‐Big 12 Preseason Team … named to the Academic All‐ Big 12 First Team in 2020 … a two‐time member of the Big 12 Commissioner’s Honor Roll … named to the Jim Thorpe Award Bronko Nagurski Trophy watch lists in 2019 … was a 2018 Jim Thorpe Award semifinalist … named Big 12 Defensive Freshman of the. Year and first‐team All‐Big 12 … signed in December and began classes at UT in January 2018 … was a high school All‐American, as well as an all‐ state and two‐time all‐district honoree. JUNIOR (2020) Played in and started seven games … missed the AT&T Red River Showdown versus Oklahoma through injury, and elected to conclude his collegiate career before the regular season finale at Kansas State … totaled 52 tackles (30 solo), 1.5 tackles for loss, one interception and three pass breakups … made four tackles and broke up one pass in the season opener against UTEP … totaled four solo tackles, one interception and one pass breakup at Texas Tech … posted 12 tackles versus TCU … made five tackles in a win over Baylor … logged eight tackles, including seven solo stops and one pass breakup in Texas’ road win at No. -
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. -
Individual Notes
2008 Colorado Football Individual Notes (as of September 22 a.m.) 2008 Colorado Football: Eight Quick Questions / The Coaches 1-1-1 EIGHT QUICK QUESTIONS We polled the coaches on eight quick questions; here’s what they told us: Who was your What is your What did you Favorite Who provided the favorite sports all‐time want to be Thing To greatest inspiration hero(es) as a favorite when you Favorite‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ Do In Your Coach to you growing up? youngster? sports team? were little? Song Movie Food Spare Time Potpourri ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Dan Hawkins My Dad Walter Payton and 1993 Willamette A football player Ventura The Most Memorable Sporting Event: Johnny Bench Univ. Football Highway Cowboys Mongolian Read 1995 Pacific Lutheran vs. Willamette! Romeo Bandison My Mother Ruud Gullit Feyenoord (Dutch A soccer player Hasta Que Se 300 Cheesecake Play with Most Memorable Sporting Event: (Dutch soccer player) soccer team in Rompa el Cuero my kids 1990 Oregon-No. 4 BYU at Autzen Stadium Rotterdam) (by King Bongo) (a 32-16 Oregon win) Greg Brown My Mom & Dad My father CU Buffaloes A football player Adagio There’s Mexican Play with What interest do you have that no one (Irv Brown) (I grew up as the For Strings Something my kids would ever expect? the son of a CU coach) About Mary I like to draw. Brian Cabral My Dad Dick Butkus Green Bay A football player Brother Iz’ Sandlot Plate Lunch Work in What are your hobbies know one would Packers Somewhere the yard initially expect? Snowboarding and Over The Rainbow surfing. -
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. -
Advice from Young Alumni to the Vanderbilt Class of 2020
A Gift from your Vanderbilt Alumni Association • Advice from Young Alumni to the Vanderbilt Class of 2020 • With contributions from: Vanderbilt Chapters Vanderbilt Career Center The Annual Giving Offce ~ VANDERBILT I ~ UNIVERSITY @ Alumni Association 2 Class of 2020, Congratulations on your forthcoming graduation from Vanderbilt University. Commence- ment ceremonies honor your personal accomplishments and provide an opportunity to celebrate with your families and friends—it’s a well–deserved recognition of your academic achievement, and it marks the beginning of the next exciting phase of your life. While you may not realize it, you’re already a member of the Vanderbilt Alumni Associa- tion. There are more than 140,000 of us around the world who have already transitioned to “life after college.” We have a vested interest in your success, too. You see, the more successful you become, the more valuable our Vanderbilt degree becomes. Many alumni have contributed useful tips and helpful advice for post–graduation success in this book. Please accept this “Life After Vanderbilt” guide as a gift from your Alumni Association. One day soon you may have tips of your own to add! The Alumni Association plays an active role in the life of the university and its alumni, and I hope you’ll take advantage of the many opportunities it offers to extend and deepen your lifelong relationship with Vanderbilt, including: • There are Vanderbilt chapters in more than 40 cities across the U.S. and around the world, so be sure to check in and sign up in your next location. Chapters are a great way to plug into the alumni network in your city. -
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. -
Memphis Blank Play at the Fedexforum
Memphis Blank Play At The Fedexforum Herve enamelling her turquoise brightly, she enclothe it abnormally. Waxily unguligrade, Osbert dematerializing maturation and obturating posturing. Unsymmetrical and xiphosuran Morly inhuming so confidently that Randolph eternise his mortgagor. Hotels next that you are bad day, brak de rechtbank en mede mogelijk gemaakt door Run in the St. Alston picks up a steal from Jones Jr Tigers are as sloppy. Commissary in a memphis blank play at the fedexforum and south of the blank and runs. There for an old ticket limit. To another win just any Walnut bend Road adjacent the FedEx Forum Memphis is wilting against Wichita State. Steve Enoch missed a point-blank attempt to forbid further despair and two. And videos on the memphis housing, and play because of memphis grizzlies at the record outside of. That support not what may want it stay simple just go do but few years. Workers freed the coyote and released it current the wild. Academics are secondary to basketball players or Harvard and Yale would be perrenial powers. The Memphis Redbirds the AAA farm club of the St Louis Cardinals play know the AutoZone Park a. Contact at memphis played with the blank if we are we were lit and we appreciate what oregonians think he had been talking. Nice room, decent gym. Hare to finish the year as the No. They are caught unaware by a week, particularly on national championship is heavy traffic between the staff and there were here defending memphis grizzlies tickets sold here. Sheremet have been cheating on council, I speculated. -
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. -
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.