Posts Tagged ‘nba’

NFL Woes

12 September 2008

Dear J-

Forbes released a report on NFL team valuations — our hometown Chargers placed 26th out of 32 teams, which sounds pretty dismal until you realize that the top 19 teams are worth one billion dollars or more (number 20, the Tennessee Titans, are within spitting distance and both they and the Saints will exceed it at their current rate of growth next year).  Based on the numbers, the Chargers are in fairly robust health — on the low end of the debt to value ratio (11%), turning a profit, and should they go deep into the season this year as expected, voters may feel a little more inclined to grant them their wish:  a shiny new stadium, somewhere with lovely views and the latest and greatest high-dollar luxury boxes.  It worked for the 1994 World Series Padres, after all, but then again, that’s a team that plays 81 home games, not 8.

In fact, according to Forbes, our Chargers have a greater value and less debt than the Boston Red Sox.  Plus they turn a profit at the end of the year.  Go figure:  one has a national presence, rabid fans, and a historical stadium, and the other one plays in the Boston swamps.  No, I kid; seriously, would you expect the three most profitable teams in sports to be the Chicago Bulls, Washington Redskins, and Toronto Maple Leafs, each making over $50 million per season?  These are fascinating numbers to pore over for the NFL, NHL, NBA, and MLB — the Chargers are worth more than the top two NHL teams, Leafs and Rangers, combined; the Cowboys are worth nearly as much as the top three NBA teams.  Nearly every NFL team turns a healthy profit, and this with by far the fewest games.

It’s difficult to root for the Chargers to get that new stadium.  It’s somewhat difficult to root for them to succeed , as it’s felt like a transparent attempt to drum up support for a stadium they don’t need, and like a tantrum against a city that can’t subsidize them (we’ve got well-publicized budgetary constraints), they keep threatening to move to greener pastures.  Well, should they head back north to LA, the Coliseum has seen better days, and the Rose Bowl is now the proposed home to both the Trojans and Bruins.

Mike

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