Multibillion dollar media deals are helping sports teams rake loads of money. The undisputed television king in the world of sports is the NFL. It signed new network deals last year worth over $5 billion annually. Not to be left behind, NBA signed a $2.66 billion a year deal with TNT and ESPN. It was three times the previous rate. Regional sports networks are committing to long term deals with popular baseball teams. The EPL inked a $2.7 billion per year contract with Sky.
According to Forbes report, the world’s 50 most valuable sports teams are worth $1.75 billion on an average. That is more than 31 percent last year. Here are the top 10 most valuable sports teams.
This spring, the professional American football team Washington Redskins removed thousands of seats at FedEx Field for the third time in five years. On Jan 7 2015 they hired Scot McCloughan to be their new general manager
The professional baseball team Los Angeles Dodgers made over $120 million in local TV money last season; the most in baseball, a record. This is part of the team’s $8.35 billion contract with Times Warner Cable. Their attendance was highest in MLB.
Professional basketball team New York Knicks generates around $300 million annually in revenue. This is mainly due to the NBA’s expensive tickets and luxury suites that cost up to $1 million.
New England Patriots is a Greater Boston area based professional American football team. They have the highest ticket prices in the NFL. They play their home games at Gillette Stadium in Foxborough, Massachusetts.