No, seriously… like, a lot of money.
According to a Forbes report, the Dallas Cowboys are the world’s most valuable sports team for the 4th year running, at $5B.
But they’re far from alone as a billion-dollar sports-ball operation…
Pro sports teams have always been big business, but their growth has recently accelerated.
Seven years ago, Manchester United soccer club was the only pro sports team worth more than $2B; today, there are 52 teams worth at least $2B.
Sports franchise owners, powerful behind-the-scenes puppeteers, have simultaneously negotiated increased payouts from media partners like ESPN and NBC and decreased player salaries.
The NFL is a perfect example: More than half of the world’s 50 most valuable teams are in the NFL thanks to the league’s advantageous cost structure.
Player salaries, one of the largest costs for any NFL team, are capped at $177.2m, while each team earns at least $260m from broadcasting networks.