The Minnesota Vikings are below average when it comes to the value of an NFL franchise.
Forbes Magazine did the research and came up with a value for all 32 teams in the NFL. The Vikings came in at No. 20, with a total value of $1.15 billion. The average NFL team is worth $1.43 billion – nearly $300 million more than the Vikings.
Here's how the business magazine came up with its figures.
"Forbes’ team values are enterprise values (equity plus net debt) and are calculated using multiples of revenue that reflect each team’s current stadium economics (with adjustments for pending new stadiums and renovations)."
The Metrodome is gone and the Vikings are playing at the University of Minnesota's TCF Bank Stadium the next two years before opening the doors to a new $975 million venue in 2016. Here's the full synopsis.
"The Vikings will move into a new $975 million stadium for the 2016 season. The team will play at TCF Bank Stadium, home of the University of Minnesota football team, during the preceding two seasons. TCF stadium holds 51,000 fans, 14,000 less than the Metrodome. The contract calls for the Vikings to pay the university $250,000 for every game and an additional $50,000 in concession and advertising revenue. The university will keep all parking revenue and the Vikings are responsible for paying for upgrades to TCF Bank Stadium that are required, including heating the artificial turf field, winterizing the stadium so that it can be fully operational in November, December and January, and adding seats to increase capacity."
Forbes says the Vikings had a 2013 revenue of $250 million and an operating income of $5 million. In contrast, the top ranked team, the Dallas Cowboys (worth $3.2 billion), had $560 million in revenue last year, and an operating income of $246 million.
Despite being below average, Vikings owner Zygi Wilf can rest easy knowing that he bought the team in 2005 for $600 million.
Here's a year-by-year view of the Vikings' value:
- 2014: $1.15 billion
- 2013: $1.07 billion
- 2012: $975 million
- 2011: $796 million
- 2010: $774 million
- 2009: $835 million
- 2008: $839 million
- 2007: $782 million
- 2006: $720 million
- 2005: $$658 million