Braves Name Hart President Of Baseball Ops Could Rice Hearing Be Costly For Goodell? Nets Offering "Loyalty Insurance" Senators To Hold Tribute For Soldier Killed In Attack Early Morning NFL Game Offers New TV Window Franchise Notes Wolf, Polian Finalists For '15 Pro Football HOF Islanders Introduce New Owners Progress Slow On Hawks Sale Kidd Featured In Bucks' New TV Campaign
Upcoming Conferences and Events
BUCS SALE BOOSTS ALL FRANCHISE VALUES?
Published January 18, 1995
Malcolm Glazer's purchase of the Buccaneers for $192M sent shock waves "throughout the North American sports community," as the worst-ever NFL team was sold for the highest price of any professional sports team in history. FINANCIAL WORLD's Managing Editor Paul Brown says Glazer overpaid by $50M: "But Economics 101 tells you the worth of anything is what somebody is willing to pay for it. And you've got a lot of rich guys walking around with money burning a hole in their pockets." The sale will boost franchise values in every sports, according to Brown: "This sale transcends sports. ... If I own the [Blue] Jays, I point out the Tampa Bay sold for 30 per cent above its appraised value and make the argument that it's worth $200 million." Brown estimated the Dallas Cowboys value jumped from $190M to $290M "If I'm (Dallas Cowboys) owner Jerry Jones, I buy a case of champagne" (Tim Harper, TORONTO STAR, 1/18).