The Los Angeles Times reported yesterday (Thursday) that the Los Angeles Clippers will be sold to former Microsoft CEO Steve Ballmer for $2 billion.
Embattled Clippers owner Donald Sterling had stated in a cover letter Tuesday responding to NBA charges that he had “received offers in excess of $2.5 billion” to purchase the team, which would have set a new record in U.S. pro sports.
The reported winning bid for the Clippers is a bit less than the Dallas Cowboys were valued at by Forbes in 2013. The business magazine appraised America’s Team’s value at $2.3 billion in 2013, up $200 million from the previous year, when it became the first American sports franchise to be worth more than $2 billion.
$2.3 billion Forbes appraisal keeps Dallas Cowboys ranked No. 1 among NFL teams
OXNARD, Calif. — Fresh off the announcement that the Dallas Cowboys will build a new headquarters and practice facility in Frisco with the expectation it will open in 2016, Forbes announced that America’s Team is the NFL’s most valuable.
The Dallas Cowboys were appraised at $2.3 billion, up $200 million from last year, when they became the first American sports franchise to be worth more than $2 billion, according to the business magazine.
The Cowboys, who completed a naming rights deal with AT&T for their stadium in Arlington, have made major transactions that have put them in a better position financially, owner Jerry Jones said.
“We are as sound as any team in sports and more sound than most,” Jones said. “And I didn’t do it. It was done because of the foundation that was built and the kind of interest the Cowboys have. And it’s real.”
The Dallas Cowboys are worth $500 million more than the New England Patriots, ranked No. 2 on Forbes’ list.
“We never quite drop down like a lot of sports teams do,” Jones said. “That’s a credit to the fans.”
Texas now has a billion-dollar MLB team
The Texas Rangers are valued at $1 billion — good enough for 10th in Major League Baseball among 32 teams — Bloomberg.com reported.
Where the Rangers ranked in key categories:
- Team revenue — $260 million (9th)
- Gate receipts — $79 mil;lion (11th)
- Concessions — $22 million (10th)
- Sponsorships — $19 million (17th).
- Media rights — $81 million (13th).
- Parking — $6 million (9th)
- Attendance — 3.2 million (5th).
The Rangers had a net loss in revenue sharing of $15 million. Under baseball’s collective bargaining agreement between the owners and players, revenue from large-market teams is shared with smaller-region franchises.
The Yankees ($3.28 billion), Dodgers ($2.1 billion) and Red Sox ($2.06 billion) are the most valuable teams.
Last year, Forbes valued the Rangers at $764 million, good for eighth in the league.
General manager Jon Daniels said recently that he expected the 2014 payroll to be in a “similar range, but a little below” the 2013 figure. The Rangers spent approximately $125.3 million on payroll in 2013, eclipsing the previous high total of $120 million last year.
The Rangers, however, experienced a drop in attendance in 2013 of about 300,000 fans, or nearly 9 percent, from their record paid attendance of 3.46 million in 2012. Averaging the value of a ticket to be $25, that decrease is about $7.5 million in revenue. Also, the Rangers’ new TV contract with Fox, which includes substantial upgrades in TV rights payments, does not begin until after 2014. That should provide about a $120-million-a-year-guarantee.
Values of other D-FW sports franchises:
- Dallas Cowboys: $2.3 billion, 1st in NFL (source: Forbes.com)
- Dallas Mavericks: $685 million, 5th in NBA (source: Forbes.com)
- Dallas Stars: $240 million, 13th in NHL (source: Forbes.com)