07-19-2024, 09:51 PM
(07-19-2024, 04:20 PM)TCUBengal34 Wrote: Because I've seen financials from an AFC South team from circa 2015 and and an NFC South team Circa 2022. The real numbers, not the numbers the Packers show to the public.
Again, most aren't a $1B, I think the Cowboys def are. But most are close 3/4 of a B range. And 10% Profit margin. Right. That's what their accountants show. That's what mine shows too. Most businesses unless publicly traded (and even then) try to minimize their tax liability.
Trust me. The teams are fineeeee. The Panthers. The PANTHERS sold a few years ago for what, $6B? On the open market. You think they sold for 50x EBITDA? No way. These teams are under reporting 100% and don't blame them.
You are claiming the Packers are committing fraud? That’s a bold statement. They present their financials because they legally have to. They are in fact audited and certified by an independent accounting firm.
You can’t do valuations on unique companies using standard EBITDA multiples, for one the NFL as a league controls who can even buy in. What we do know is the last expansion team with no brand, players, or revenue sold for $700 million in 2002. Since then the salary cap has gone up 5x. Also worth noting in your EBITDA multiple calculation how they handle add backs could be massive so it probably is much lower when they account for such.
