From time to time, media outlets attempt to apply specific values to sports teams. It’s better than nothing, but these efforts to approximate worth are largely worthless.
On Tuesday, Sportico.com made waves by declaring that the Cowboys are the first NFL team to surpass a valuation of $10 billion.
Ultimately, any business is worth whatever someone will pay for it. And it’s very safe to say that, if the Cowboys were for sale, they’d sell for much more than $10 billion.
Of course, they’re not for sale. Owner Jerry Jones has made that clear, over and over again. Assuming enough money has been set aside to address the estate tax burden when that time comes, and assuming Jerry’s kids don’t want to sell, external attempts to guess the value will continue to not matter.
Several years ago, a source with extensive knowledge of the operation of NFL franchises predicted that the average, random team would soon be sold for $8 billion to $10 billion. Two years ago, the Broncos set a record with a sale price of $4.65 billion. The Commanders shattered that last year, with a price tag of $6.05 billion.
The Cowboys, if for sale, would easily go for twice that amount. Maybe $15 billion.
Again, it’s irrelevant. The Cowboys aren’t for sale. And any efforts to put hypothetical numbers on teams that aren’t for sale aren’t relevant, either. If/when teams are for sale, they’ll keep going for more. And more. And more.
That’s the key word. More. Whenever Forbe or Sportico or any other publication tries to put a dollar value on an NFL team, tell yourself that.
More.