Sport lovers were stuck at home, seasons were at risk, and revenue plummeted like tides on oceans. Things might seem terrible for professional sports at this point in time, but surprisingly most of the world’s top teams are worth more valuable this year than last year.
You may find yourself wondering if the world’s leading sports franchises are pandemic-resistant; Fred Wilpon’s New York Mets is a perfect example of such. The Amazin’s, second top team in Major League Baseball’s most valuable market, was put for sale by Wilpon in February after nearly twenty years of ownership. Just like every other hit by the no-sport-events ultimatum, Wilpon has failed to keep pace with the league’s rising payrolls, leaving the Mets without stadium revenues.
The pandemic has not stopped an all-star list of buyers from entering the sports market, including hedge-fund hitman Steve Cohen and private-equity mogul Josh Harris; one of these billionaires will likely pay more than $2 billion for the team. Ten years ago, only one team came close: Manchester United Football Club, which was the world’s most valuable team valued at $1.83 billion in 2010.
Obviously, that crown now belongs to the Dallas Cowboys, who topped the Forbes ranking of the Most Valuable Sports Teams for the fifth year in a row, valued at $5.5 billion, knocking out $5 billion New York Yankees. For both owners, Jerry Jones of Cowboys and Steinbrenner family of New York, it may as well denote paper profit.
It is even worse down the food chain. Stakes that were held by limited partners of major teams are at a discount of 20% or more and could face further downfall if other partners start looking to offload their interests to raise cash for other businesses that may be failing due to the impact of Covid-19. A number of minor league baseball teams are on the verge of bankruptcy while XFL startup has folded up operations already.
- Dallas Cowboys (NFL)
The Jerry Jones’ owned team is valued at $5.5 billion after paying $150 million for the American football team in 1989.
- New York Yankees (MLB)
The combined effort of the Steinbrenner family helped buy the baseball team in 1973 at a price of $8.8 million but today, it is valued at $5 billion.
- New York Knicks (NBA)
Owned by Sports and entertainment venue giants, Madison Square Garden Company, the team was bought in 1997 for $300 million and is valued at $4.6 billion.
- Los Angeles Lakers (NBA)
The famous basketball team is owned by Jerry Buss family and Philip Anschutz. The team is valued at $4.4 billion.
- Golden State Warriors (NBA)
The revolutionary basketball team is owned by Joe Lacob and Peter Guber and is valued at $4.3 billion.
- Real Madrid F.C. (Football)
The Spanish team is valued at $4.24 billion and it is operated by many board members.
- New England Patriots (NFL)
Robert Kraft’s franchise is valued at $4.1 billion after paying $172 million.
- Barcelona C.F. (Football)
Valued at $4.02 billion, the Spanish giants have evolved as one of the leading teams in the world.
- New York Giants (NFL)
Another elite of American football; valued at $3.9 billion, owned by John Mara and Steven Tisch. The team was bought in 1925 and 1991 by both men respectively.
- Manchester United F.C. (Football)
The club is owned by the Glazer family and is valued at $3.8 billion. They bought the English team in 2005.
This article was written by Alex Ndace; he tweets via @AlexNdace