This represents the fair 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: Dallas Cowboys owner Jerry Jones' 20%-plus interest in Legends Hospitality, a stadium operations corporation and the Washington Football Team's subsidiaries, which own roughly 400 acres 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 (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.įor 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. Total Team Revenue: Cumulative amount of National Revenue and Local Revenue. National Revenue: Each franchise's equal proportion of league-shared revenue, derived predominantly from NFL contracts with media and advertising partners it represented 80% of total team revenue for the COVID-impacted 2020 season, wherein fan attendance was sparse. (i.) National media rights (broadcast deals with Walt Disney, Fox, Comcast, ViacomCBS, Amazon, SiriusXM and Cumulus Media). (ii.) League sponsorship revenues (e.g., Verizon, Anheuser-Busch InBev, Nike, Visa and many others). (iii.) Net revenues and royalties from NFL Ventures, which include the league's various affiliates and subsidiaries, such as NFL Properties LLC, NFL International LLC, and NFL Enterprises LLC. These distributions covers licensing, film, international properties and media rights, as well as domestic TV deals with AT&T (NFL Sunday Ticket) and NFL Network.Įxcluded from this calculation is income derived by and distributed from 32 Equity, the private equity investment vehicle established by the NFL in 2013. Local Revenue: Revenue generated by each franchise independent of league distributions, comprising in aggregate only 20% of total team revenue for the 2020 season. It is typically more like 60% for a season with full attendance. (i.) Stadium, which includes: ticket sales premium seating (luxury suite leases and club seating) parking team's share of concessions and non-football (third-party) events. (ii.) Sponsorship, which includes: naming rights, advertising, corporate partnerships, local merchandising (distinct from league licensing royalties in National Revenue).
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