BUCS SALE BOOSTS ALL FRANCHISE VALUES?
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).