Sportico releases 2023 NFL franchise valuations (Bills at 29)

[chongli]

Sportico just released its 2023 valuations for each NFL franchise. These values are skyrocketing. The link has valuations back to 2020 if you are interested. The Bills are looking pretty good compared to what the Pegulas paid for the team.

 

https://www.sportico.com/feature/nfl-team-values-ranking-list-1234684165/

 

Rank (Change) - Team - 2023 Valuation (billions) - 1 Year % Change

[highest totals for each column are in bold and green]

 

1. (-) Dallas - 9.20 billion - 20%

2. (+2) NY Giants - 7.04 - 23%

3. (-1) LA Rams - 6.94 - 17%

4. (-1) New England - 6.70 - 14%

5. (-) San Francisco - 6.15 - 19%

6. (+1) NY Jets - 6.11 - 27%

7. (+1) Washington - 6.05 - 27%

8. (-2) Chicago - 6.00 - 20%

9. (-) Philadelphia - 5.95 - 27%

10. (+5) Las Vegas - 5.77 - 41%

11. (-) Houston - 5.35 - 16%

12. (+4) Miami - 5.24 - 29%

13. (+4) Atlanta - 5.15 - 33%

14. (-4) Denver - 4.87 - 5%

15. (-3) Seattle - 4.82 - 10%

16. (-3) Pittsburgh - 4.80 - 13%

17. (-3) Green Bay - 4.75 - 13%

18. (+1) LA Chargers - 4.63 - 28%

19. (+1) Kansas City - 4.52 - 28%

20. (-2) Minnesota - 4.43 - 19%

21. (+2) Tennessee - 4.37 - 33%

22. (-) Carolina - 4.27 - 27%

23. (-2) Baltimore - 4.24 - 23%

24. (+2) Indianapolis - 4.21 - 30%

25. (+2) Cleveland - 4.20 - 32%

26. (-1) New Orleans - 4.19 - 29%

27. (+1) Arizona - 4.17 - 32%

28. (-4) Tampa Bay - 4.15 - 27%

29. (-) Buffalo - 4.13 - 38%

30. (+1) Detroit - 4.10 - 43%

31. (-1) Jacksonville - 4.04 - 37%

32. (-) Cincinnati - 4.00 - 41%

 

Below is how Sportico calculated the values:

 

"2023 Valuation: The sum of the enterprise value of an NFL franchise combined with the value of team-related businesses and real estate holdings.

 

Team Value: NFL franchise valuation, derived from metrics by which football-team transactions occur, including aggregating local and national revenues and factoring in a team-specific multiplier. This represents the market value of the team itself, excluding related businesses held by its owners. It includes the value of each franchise’s 3.13% interest in the league’s properties, including NFL Network, NFL RedZone and its digital platforms, which are acquired/dispossessed in tandem with the sale of a team.

 

Team-Related Businesses and Real Estate Holdings: The value of a franchise owner’s equity in team-related businesses that are distinct corporate entities, as well as government-assessed real estate related to venue, practice facilities and adjacent developments. Examples include: Cowboys owner Jerry Jones’ 20%-plus interest in Legends Hospitality, a stadium operations corporation; and the Washington Commanders’ subsidiaries, which own nearly 400 acres split between 12 parcels near the team’s stadium and practice facility.

 

This category excludes value derived from enterprises determined as too attenuated from the football team’s operations, which fall into three categories: (1) rent from non-football, outside-of-stadium retail operations, like the Green Bay Packers’ Titletown venture or New England Patriots’ Patriot Place; (2) licensing fees paid by non-football third parties to a team’s sister company for the use of intellectual property; (3) team owner’s investment in businesses unrelated to franchise operations. Examples include the Cowboys’ sister company Blue Star Land’s joint ventures with real estate partners or the Formula 1 race in Miami operated by Dolphins’ owner Stephen Ross. 

 

For franchises that do not own their venues, the value of a team’s lease—often with advantageous terms negotiated with municipal or state authorities—is captured in the Team Value category."

 

[The data would have been very amenable to a table using the TBD feature, but you can't apparently change the column widths, so I elected not to create one.]

Edited August 9, 2023 by chongli

[Richard Noggin]

And yet my wages remain mostly the same. 

 

[Doc Brown]

We'd be first if we put a roof on the new stadium.

[mrags]

1 hour ago, Richard Noggin said:

And yet my wages remain mostly the same. 

 

In other words, because of the ridiculous inflation, you took a massive pay cut. 

[Richard Noggin]

Just now, mrags said:

In other words, because of the ridiculous inflation, you took a massive pay cut. 

 

We are most of us always taking pay cuts.

[JoPoy88]

All driven mostly by market size it appears (with the exception of Green Bay) so no surprises here.

[Bangarang]

Not a bad investment for Pegula. 

[Buffalo_Stampede]

1 hour ago, Bangarang said:

Not a bad investment for Pegula. 

Someone said buying the Bills for $1.3 billion or whatever was a bad investment. Not sure who he was, but I don’t think it was anyone important.

[Doc]

33 minutes ago, Buffalo_Stampede said:

Someone said buying the Bills for $1.3 billion or whatever was a bad investment. Not sure who he was, but I don’t think it was anyone important.

I don’t recall anybody saying that. I only recall people saying that they sorely over paid for the team. 

[Gregg]

Terry bought the team for 1.4 billion and now they are worth 4.13 billion. Nice return on your investment Terry. NFL owner = owing a cash cow.

[Buffalo_Stampede]

48 minutes ago, Doc said:

I don’t recall anybody saying that. I only recall people saying that they sorely over paid for the team. 

Same thing? Someone also said they wouldn’t be winner.

Just now, Gregg said:

Terry bought the team for 1.4 billion and now they are worth 4.13 billion. Nice return on your investment Terry. NFL owner = owing a cash cow.

Sabres worth $400 million more also. Not bad.

[Gregg]

4 minutes ago, Buffalo_Stampede said:

Same thing? Someone also said they wouldn’t be winner.

Sabres worth $400 million more also. Not bad.

 

Not bad for a small market hockey team. 

[Mr. WEO]

Not a big difference from the Forbes numbers each year (should be out soon).

 

Including, for example, Jones's ownership of 20% or Legends and the Commanders owning 400 acres near the stadium is a bit shady.  If either owner sold the team, he's not going to include those.

[Doc]

1 hour ago, Buffalo_Stampede said:

Same thing? Someone also said they wouldn’t be winner.

Sabres worth $400 million more also. Not bad.

 

No, not the same thing.  Overpaying initially and getting a $2.7B return in 8 years is a fantastic investment no matter how you look at it.  

 

Agree on the Sabres.  Hopefully they finally make it back to the playoffs this coming season.

Edited August 9, 2023 by Doc

[Gregg]

38 minutes ago, Doc said:

 

No, not the same thing.  Overpaying for the Bills and getting a $2.7B return in 8 years is a fantastic investment no matter how you look at it.  

 

Agree on the Sabres.  Hopefully they finally make it back to the playoffs this coming season.

 

I think that is a very good bet. My guess is they have the type of season the Devils had last year. I also think they will win a round in the playoffs as well.

Edited August 9, 2023 by Gregg

[Aimee75]

We were dead last a couple years ago, so I think they will keep moving on up, especially if they keep winning and of course the new stadium.

[T master]

Well a turd always floats to the top it seems & if you look at the top there are a few up there & as it's been said here it has a lot to do with the size of those cities & how much cash they generate for the NFL & not so much how good the club is over all IMHO . 

[SF Bills Fan]

Pretty much what you'd expect. The bottom 3rd starting at 22 to 32 are pretty much all the same in value with Tennessee and KC slightly out of the orbit. Those are all smaller market teams. I am curious as to what the new stadium will do to bump up revenue for the Bills and therefor the value. It'll probably jump The Bills up a few spots. I could see the Bills on par with Baltimore and Indy in value. Good investment for the Pegulas. Nearly 3 billion increase in less than 10 years. It takes money to take money.

[Beast]

Not a whole lot of difference between 14 and 32.

[SoCal Deek]

So you’re saying if I’d have won the Mega Millions lottery last night I could’ve bought 1/4 of an NFL Team? Snap! 😡

[Nextmanup]

10 hours ago, Richard Noggin said:

And yet my wages remain mostly the same. 

 

Your wages haven't changed, in real economic terms, since about 1980.

 

Pegula has made @ $2.7 billion on JUST the Bills in the 9 years he has owned the team, and that's certainly not his only asset. 

 🤔

 

 

 

[Fleezoid]

It is the Bills Mafia, so the books won't show what they're really worth. 

[alton]

6 hours ago, Buffalo_Stampede said:

Someone said buying the Bills for $1.3 billion or whatever was a bad investment. Not sure who he was, but I don’t think it was anyone important.

Trump said it when he was outbid haha https://www.cbssports.com/nfl/news/donald-trump-terry-pegula-overpaid-for-bills-because-of-me/

[Punching Bag]

1 hour ago, Nextmanup said:

Your wages haven't changed, in real economic terms, since about 1980.

 

Pegula has made @ $2.7 billion on JUST the Bills in the 9 years he has owned the team, and that's certainly not his only asset. 

 🤔

 

He has not "made" it until it sells.  It is like when tax assessors raise the value of your house so you can have a higher tax bill - it is imaginary gain until you sell.

[buffaloboyinATL]

12 hours ago, Doc Brown said:

We'd be first if we put a roof on the new stadium.

and built it downtown?

[Gregg]

 

[Augie]

3 hours ago, Fleezoid said:

It is the Bills Mafia, so the books won't show what they're really worth. 

 

Back in my banking days some people would ask “which set of books do you want to see?”

 

That was never a good starting point.  😂 

 

Nice investment for the Pegulas and I do not resent their profit for a single second. They kept the Bills in WNY, and they did not take anything from me that I wasn’t willing to part with. 

[C.Biscuit97]

17 hours ago, Richard Noggin said:

And yet my wages remain mostly the same. 

 

Poverty ($4.3 billion) franchise 

 

1 hour ago, Gregg said:

 

Some of that is inflation but for as much as looks like the cryptic keeper, Jones is a heck of a business man.

5 hours ago, alton said:

Trump said it when he was outbid haha https://www.cbssports.com/nfl/news/donald-trump-terry-pegula-overpaid-for-bills-because-of-me/

Shocked because he’s normally a very honest and not spiteful person. 

5 hours ago, Fleezoid said:

It is the Bills Mafia, so the books won't show what they're really worth. 

Von Miller said the only reason he signed here is because we get so drunk and jump through tables.

[PromoTheRobot]

10 hours ago, Gregg said:

 

Not bad for a small market hockey team. 

 

But just like the Bills, the Sabres are locked in their spot. Yes, values are going up but they are always going to be #28 or #29 because Buffalo. It's why I never relax about relocation. I don't think Terry ever would, but these teams are worth double almost anywhere else.

[Doc]

30 minutes ago, PromoTheRobot said:

But just like the Bills, the Sabres are locked in their spot. Yes, values are going up but they are always going to be #28 or #29 because Buffalo. It's why I never relax about relocation. I don't think Terry ever would, but these teams are worth double almost anywhere else.

 

Yup.  Which is why the owner is the most important thing.  We're incredibly lucky Terry came around.

[Big Turk]

Crazy the Bills are 29th and still worth north of $4.1 Billion...pretty nice ROI already for Pegula and only growing after the new stadium is built.

55 minutes ago, PromoTheRobot said:

 

But just like the Bills, the Sabres are locked in their spot. Yes, values are going up but they are always going to be #28 or #29 because Buffalo. It's why I never relax about relocation. I don't think Terry ever would, but these teams are worth double almost anywhere else.

 

That's why they can include ironclad agreements that make it near impossible without a new owner paying a prohibitive cost to break the lease.

 

 

[Buffalo Super Fan]

16 hours ago, Buffalo_Stampede said:

Someone said buying the Bills for $1.3 billion or whatever was a bad investment. Not sure who he was, but I don’t think it was anyone important.

Buying a NFL isn’t a bad investment because it can be moved. I question those values for the Buffalo Bills in Buffalo. The only way a Bills owner gets that kind of value is moving the team New York City which I think the Bills team is heading after the 30 year lease is up unless Western New York economic development and fortunes change in the next 30 years. If it doesn’t the Buffalo Bills will still be in New York State as the New York Bills in a private financed stadium in Upper Manhattan, Brooklyn or Queens in my opinion. Go Bills! Let’s Go Buffalo 

[Bob Chandler's Hands]

16 hours ago, Gregg said:

Terry bought the team for 1.4 billion and now they are worth 4.13 billion. Nice return on your investment Terry. NFL owner = owing a cash cow.

Technically, not a cash cow. Meaning, cash generated from operations maybe providing a reasonable return on the investment, but the real increase in wealth for Pegula is in (estimated) equity value, should he decide to sell.  

[Buffalo_Stampede]

7 hours ago, I am leaving for good said:

Buying a NFL isn’t a bad investment because it can be moved. I question those values for the Buffalo Bills in Buffalo. The only way a Bills owner gets that kind of value is moving the team New York City which I think the Bills team is heading after the 30 year lease is up unless Western New York economic development and fortunes change in the next 30 years. If it doesn’t the Buffalo Bills will still be in New York State as the New York Bills in a private financed stadium in Upper Manhattan, Brooklyn or Queens in my opinion. Go Bills! Let’s Go Buffalo 

Actually they’re worth more than that if being moved. Bills could easily sell for $5+ billion on the open market.
 

They’re worth $4 billion in Buffalo due to revenue sharing. Has little to do with Buffalo.

Edited August 10, 2023 by Buffalo_Stampede

[Gregg]

13 hours ago, PromoTheRobot said:

 

But just like the Bills, the Sabres are locked in their spot. Yes, values are going up but they are always going to be #28 or #29 because Buffalo. It's why I never relax about relocation. I don't think Terry ever would, but these teams are worth double almost anywhere else.

 

Anything is possible but with the new stadium I don't think the Bills will move at least not in our lifetimes. I don't think Terry will sell anyway. I thought the plan is now to let his children inherit the teams. His oldest daughter was going to owners' meetings with him and trying to learn the business side of a sports team. At least that is what has been reported in the media.

[PromoTheRobot]

On 8/9/2023 at 6:48 PM, Big Turk said:

Crazy the Bills are 29th and still worth north of $4.1 Billion...pretty nice ROI already for Pegula and only growing after the new stadium is built.

 

That's why they can include ironclad agreements that make it near impossible without a new owner paying a prohibitive cost to break the lease.

 

 

 

Not too be a Debbie Downer but that's an illusion. Worst case scenario: the team is sold and new owners want to move to, say, Toronto. But what about the billion-dollar buyout? So you pay $4B for the Bills PLUS another billion in penalty. So you're in for $5B now. An NFL team in Toronto is worth what? $6-7 billion?  A billion dollars ain't what it used to be.

 

Let's never let our guard down.

Edited August 11, 2023 by PromoTheRobot

[Nephilim17]

Pegula almost tripled his investment and made about 2.7 billion in just a handful of years. Smart man.

[JoPoy88]

9 minutes ago, Nephilim17 said:

Pegula almost tripled his investment and made about 2.7 billion in just a handful of years. Smart man.

gotta have money to make money brah

[Nephilim17]

3 minutes ago, JoPoy88 said:

gotta have money to make money brah

That said, there have been countless stories of immature and financially dumb-ass young athletes (boxers, ball players, etc.) who made over a hundred million and lost most or all of it... But maybe Pegula's entourage is a little more restrained...

[HIT BY SPIKES]

On 8/9/2023 at 4:51 AM, Bangarang said:

Not a bad investment for Pegula. 

 

Terry paid $1.4B and given American tax laws can write off that over ten years.

 

Some were wondering why he paid $1.4B when Forbes had the franchise valued at below $1B and there were no other realistic suitors -- Trump never disclosed his financials during the bidding process as required and Bon Jovi & Rogers were rightly or wrongly viewed as a threat to relocate the team against Ralph's declared estate wishes -- and it is because of this corporate welfare tax advantage that the NFL negotiated long ago.

 

Edited August 11, 2023 by HIT BY SPIKES