Forbes Says Cowboys Most Valuable
NEW YORK (AP) _ The Dallas Cowboys is the most valuable franchise among the 113 that play North America’s four major professional sports, Forbes magazine reported.
The National Football League team has a net worth of $413 million and is the most profitable, earning $41.3 million last year, Forbes estimates in its Dec. 14 issue.
The NFL’s Washington Redskins, worth $403 million, and Carolina Panthers, at $365 million, are the second and third most valuable franchises, while Major League Baseball’s New York Yankees are fourth at $362 million.
Forbes’ estimated valuation of the Yankees is far below what Cablevision Systems Inc. and George Steinbrenner have valued the team at in their sale discussions _ $600 million to $1 billion, according to various reports.
The Chicago Bulls is the most valuable National Basketball Association franchise at $303 million, followed by the New York Knicks ($296 million) and Los Angeles Lakers ($268 million). The New York Rangers, at $195 million, take the honors in the National Hockey League.
While the Los Angeles Dodgers were sold to Rupert Murdoch’s News Corp. earlier this year for about $350 million, Forbes says the team is worth $236 million, eighth among pro baseball teams.
The Baltimore Orioles are ranked second in baseball at $323 million, followed by the Cleveland Indians ($322 million), Colorado Rockies ($303 million) and Atlanta Braves ($299 million).
Estimates are based on 1997 revenue and expenses for baseball and NFL teams, and 1997-98 revenue and expenses for NBA and NHL teams. Where public data was not available, Forbes used estimates from consultants, bankers, stadium operators and trade publications.