This may be hard to believe: In 2003, no pro sports team in the world was worth a billion dollars. By the end of 2008, there were 24, led by European soccer powerhouse Manchester United.
It begs the question: Is pro sports a bubble? That’s hard to say. But with the economy in peril, the days of skyrocketing growth appear to be over, at least for now.
“We’re in for some trying times for the next year or so,” says Larry Grimes, a Washington, D.C.-based mergers and acquisitions consultant who specializes in the sports industry. What he sees ahead is not so much the bursting of a bubble, which by definition would include a wave of selling at distressed prices, but a leveling off of franchise valuations to reflect the current reality. With prospective buyers having trouble lining up financing, many current owners will have little choice but to sit tight and ride out the storm.
The $1 billion-and-up club isn’t particularly broad based. By Forbes’ count, it consists of the New York Yankees, a handful of European soccer clubs and, well, most of the NFL. Spearheaded by the Washington Redskins, which became the first NFL team to break the billion dollar barrier in 2004, the league now boasts 19 of 30 clubs valued above the magic number. The Redskins have since been surpassed by the Dallas Cowboys, whose lucrative merchandising business and (starting next season) new stadium have pushed their value to $1.6 billion, second overall to Manchester United.
Other NFL teams in the top 10 include the New England Patriots (three recent Super Bowl titles), the New York Jets and Giants (a shared new stadium on the way) and the Houston Texans (the league’s biggest stadium naming rights deal). Even the NFL’s least valuable franchise, the Minnesota Vikings, is knocking on the door of billionaire row at $839 million.
Fueled by ever-increasing television contracts and by a wave of new, revenue-producing stadiums, today’s NFL is collectively worth $33.3 billion, up from $11.6 billion a decade ago, while adding just two teams. Over the years, few activities have achieved the Americana status of watching pro football on Sunday afternoons, especially with results of office pools and fantasy leagues on the line. And the league has learned to milk the hobby for all it’s worth. – Forbes
They say a family that plays together, stays together — and this list is exactly about that.
It starts with a father and son playing catch in a backyard and ends up with two or three generations of kids following their roots into professional sports.
Sometimes the athletic lineage directly derives from inherited genes and sometimes its just dad being the coach from day one. And in many cases, the latter generation outdoes its predecessors.
Here is a top 10 list of the biggest sports families.
10
The Boones
Major League Baseball
Notable members: Ray, Bob, Bret, and Aaron
The Boone family has provided Major League Baseball with a three-tier lineage of All-Stars. The late Ray Boone, a member of the 1948 World Series champion Cleveland Indians and a two-time All-Star, was the father of Bob Boone, who is a four-time All-Star in his own right.
Boone is the father of the two sons who are probably most familiar to us: Bret and Aaron.
Aaron “bleeping” Boone is best-known for his 11th-inning home run in the Game 7 of the 2003 ALCS, thus crushing the hopes of Red Sox Nation one more time. His sibling Bret is a three-time All-Star, but has been widely suspected of steroid use.
Pub. 09/29/09
9
The Gracies
Mixed Martial Arts
Notable members: Royce, Roger, Rolls
It seems like everywhere you turn, there’s a new Gracie involved in mixed martial arts. They’re easily the biggest family in the sport and that’s because since Carlos, Carlson and Helio founded Gracie Jiu-Jitsu, they’ve been handing the knowledge down to the family for years.
There’s over 30 Gracies in MMA with the most familiar ones being Royce, who won a few UFC tournaments and Roger, who is an eight-time Brazilian Jiu-Jitsu World Champion.
The Gracies, particularly Royce, were pioneers for Brazilian Jiu-Jitsu not only in the UFC but in America. The family now has over 100 academies in America where they share their tradition and wisdom.
Pub. 09/29/09
8
The McMahons
Wrestling
Notable members: Roderick, Vince J., Vince K., Linda, Stephanie, Shane
While this might be better filed under sports entertainment rather than sports, the McMahon family has been one of the most influential in their form of athletics.
While Roderick was the pioneer, the two Vinces — particularly Vince K. — brought this type of wrestling to the forefront.
Vince K., his wife Linda, and his two kids Stephanie and Shane, have either been the faces of the sport or pulling strings in the background.
Their version of “family” might be a little different than what the rest of us would use for a definition but, nonetheless, they have been a significant one in wrestling.
Pub. 09/29/09
7
The Sutters
National Hockey League
Notable members: Brent, Brian, Darryl, Duane, Rich, Ron
The NHL is a recycled old-boys club, and if you aren’t going to hire Mike Keenan as your head coach, there’s a pretty good chance it’s going to be one of the Sutters.
The six brothers now spend most of their time coaching or managing, and throughout their time, they’ve had quite the impact on the NHL. Collectively, they’ve played over 5,000 games and won six Stanley Cups — and that’s just the first generation.
Look for the second generation, including Brett and Brandon, sons of Darryl and Brent, on an NHL rink near you.
Pub. 09/29/09
6
The Matthews
National Football League
Notable members: Clay Sr., Clay Jr., Bruce, Clay III
It was evident that Clay Matthews, Sr. had all sorts of athletic gifts when you factored in that he was not only an NFL defensive tackle, linebacker and offensive linemen, but also an SEC wrestling champion and a member of the Georgia Tech swim team.
His good genes were passed down to his sons Clay Jr., who is a four-time Pro Bowl linebacker and Bruce, who is a Hall of Fame offensive lineman.
Clay III and Casey, sons of Clay Jr., are the third generation. Clay III was a first-round pick in the 2009 NFL Draft while Casey is a linebacker at Oregon.
Pub. 09/29/09
5
The Andrettis
Auto Racing
Notable members: Mario, Michael, Marco, Jeff, Aldo, John, Adam
When it comes to racing, the Andretti family is the biggest family in the sport.
Mario, who is at the top of this family tree, is a legend in the sport and is only one of two drivers ever to win the Indy 500, Daytona 500 and the Formula One Championship.
His son, Michael, who now owns Andretti Green Racing of the Indy Racing League, had a very successful CART career with 42 wins and one championship. Marco, Michael’s son, is a highly regarded 22-year-old driver in the IRL with one win under his belt.
The other branch of the family, which stems from Mario’s twin brother Aldo, hasn’t had as much success in racing. Aldo retired after a few ugly crashes and while his son John has a couple of NASCAR wins, his grandson Adam is less heralded.
Pub. 09/29/09
4
The Bowdens
College Football
Notable members: Bobby, Terry, Tommy, Jeff
Bobby Bowden is not only an icon at Florida State, he’s also one of the few faces of college football. While he’s still trying to catch Joe Paterno for the most wins in college football history, the Hall of Famer wouldn’t mind settling for second place.
Bobby’s sons, Terry, Tommy and Jeff, have also made the coaching ranks. Terry coached at Auburn, Tommy coached at Clemson and Jeff was an offensive coordinator at Florida State.
Adding to the Bowden legacy has been the Bowden Bowls, where Tommy took on Bobby, which was the first time a father and son met as head coaches on opposing sidelines. Also, Bobby (Florida State), Terry (Auburn) and Tommy (Tulane) each led a team to an undefeated season.
Pub. 09/29/09
3
The Hulls
National Hockey League
Notable members: Bobby, Dennis, Brett
While the Sutters might be the biggest family in hockey, the Hulls might be the most successful.
Bobby, otherwise known as The Golden Jet, is one of the best hockey players to ever step on the ice. The 10-time All-Star retired as the second-leading goal scorer of all time.
Dennis wasn’t quite as good as his Hall of Fame Brother, but the Silver Jet still made five All-Star Games and was part of Team Canada in the 1972 Summit Series.
Last, but definitely not least, was Brett, who was Bobby’s son. The apple didn’t fall from the tree as Golden Brett followed his father’s footsteps as a prolific scorer. He, too, is a Hall of Famer and still currently ranks third all-time with 741 goals.
Pub. 09/29/09
2
The Mayweathers
Boxing
Notable members: Floyd, Sr., Roger, Jeff, Floyd, Jr.
Boxing has had a number of father-son duos, but you’d be hard-pressed to find a family more successful than the Mayweathers.
While Floyd Jr. is on top of the sport right now with a 40-0 record and six world boxing championships in five divisions, his predecessors have helped him out.
Floyd, Sr. was a good welterweight contender and taught his son his uncanny defensive skills. Roger, Floyd, Sr.’s younger brother and Floyd, Jr.’s current trainer, was a WBC super featherweight and super lightweight champion. He has shown Floyd, Jr. the offensive skill set. Lastly, Jeff, the youngest of the three brothers, was an IBO super featherweight champ.
Pub. 09/29/09
1
The Mannings
National Football League
Notable members: Archie, Eli and Peyton
Having a Manning as a quarterback is like buying a Ferrari: you know you’re getting a good brand name.
Archie, the father of Peyton and Eli, wasn’t exactly a winner. His 26.3% winning percentage as a starter was the worst in NFL history when he retired (among quarterbacks who started 100 games). However, his stats were very good considering the teams he played on were very lousy.
His offspring have done the family name well. If Peyton retired tomorrow, he’d already be among the best quarterbacks ever and Eli, although he took a lot of flack at the beginning of his career, has established himself as a franchise quarterback. – Askmen
Renault driver Fernando Alonso says he is”very surprised” by the race-fixing charge levelled at his team over last year’s Singapore Grand Prix.
The team are accused of plotting with driver Nelson Piquet Jr to crash in the race to provoke a safety car period in order to aid Alonso’s path to victory.
“I’m very surprised,” Alonso said on Thursday at the Italian Grand Prix.
“I cannot imagine these things, these situations. It’s something that never entered my mind.”
F1’s governing body, the FIA, has called Renault to a hearing of its world motorsport council on 21 September to answer the charge.
If they are found guilty, they face severe sanctions, which could include expulsion from this year’s F1 world championship.
Renault have said they would not make any comment until after the hearing and Alonso refused to answer questions on the specifics of the allegation.
“I will not comment too much about this because the team said that as a team we will not comment,” the double world champion said.
“For me it’s not even the time to think about, or to pay attention to, this.
“It’s difficult to understand for me all this situation and this investigation. It is just too incredible.”
Piquet was sacked by the Renault team after July’s Hungarian Grand Prix and has since been outspoken in his criticism of Renault team boss Flavio Briatore.
There are reports that the Brazilian has told the FIA that he was asked to crash by the team before the race, and that Renault in their evidence to the FIA investigators denied this.
Asked directly whether he knew of any plan to ask Piquet to crash in Singapore, Alonso said: “No.”
F1 is awash with conspiracy theories about the race and the investigation.
Brawn driver Rubens Barrichello said: “I hope we get the truth.
“It’s easier to crash a Formula 1 car than to drive one. With all the power it’s quite easy to spin and crash, but I would be very disappointed if someone did that because someone said so.
“He [Piquet] is much younger than me but as a person he seems a very fair guy. I was shocked at the allegations. There are lots of rumours, which leads you to have all sorts of different ideas. I would be ashamed if it’s true.”
Alonso won in Singapore last year when Piquet crashed two laps after the Spaniard had come in for a routine pit stop.
That meant that when race officials sent out the safety car to clear up the debris from Piquet’s car, Alonso was alone among the front-runners in not having to stop for fuel and tyres.
At the time, Piquet attributed the crash to a simple error, but he was dropped by Renault after July’s Hungarian Grand Prix and has since been outspoken in his criticism of Renault team boss Flavio Briatore.
The Brazilian specifically cited unequal treatment between himself and two-time world champion Alonso as the source of his discontent.
Former world champions Renault have already been in the FIA dock this season.
They were banned for one race after a wheel flew off Alonso’s car at the Hungarian Grand Prix.
However, the suspension, which would have ruled Alonso out of his home race in Valencia in August, was lifted on appeal.
– BBC
Football fans in many cities will not have to dig as deep this year as 21 teams kept prices the same or reduced them, according to a study by a sports marketing firm.
However, the average cost of NFL tickets overall actually rose 3.9 percent to $74.99 thanks largely to a pricey new home for the Dallas Cowboys, where the average price hit a record $159.65, up 89.8 percent from last year, in an annual survey compiled by Team Marketing Report in Northbrook, Illinois.
The results suggest that the NFL, the most popular sports league in North America, has been forced to adjust to lower fan and corporate spending amid the weak economy.
The league, which boasts strong television ratings and annual revenue topping $7 billion, kicks off its season on Thursday night in Pittsburgh.
Last year, the NFL’s 32 owners terminated their labor contract with the players union early, in a move to cut salary costs. They cited rising payments to cover stadium construction, operations and improvements.
The TMR survey found that after four consecutive seasons of increases of about $5, the 2009 average rose only $2.79 from last year.
Meanwhile, the average Fan Cost Index, the cost of taking a family of four to an NFL game, rose 4.1 percent to $412.64, said TMR, which released the survey late on Wednesday. However, only 10 of the 32 NFL teams were above that average, led by the Cowboys’ 74.2 percent increase to $758.58.
The Fan Cost Index comprises the price of four tickets, two beers, four soft drinks, four hot dogs, parking, two game programs and two caps, said TMR, which compiles ticket data on all the major North American sports leagues.
In TMR’s 2009 survey, the only other NFL teams with double-digit percentage increases in their average ticket prices were the Baltimore Ravens (up 12.6 percent) and the Atlanta Falcons (up 13.3 percent). Last year, 12 teams had such increases.
Eighteen teams saw their averages remain unchanged, while the Miami Dolphins, Detroit Lions and Tampa Bay Buccaneers cut their prices by 0.8 percent, 1 percent and 10.1 percent, respectively, TMR said.
While the Cowboys, who move into a new $1.2 billion stadium this season, jumped to the top, they offer season tickets starting at $59, as well as standing room-only tickets on a game-by-game basis that cost $29. TMR said the standing room-only tickets did not figure in the average price.
The Cowboys moved ahead of the New England Patriots, which have an average of $117.84, unchanged from last year, TMR said. Those two were the only teams with average prices in the triple digits.
TMR Executive Editor Jon Greenberg said next year’s average is likely to rise at a higher rate as the economy recovers and teams look to boost prices after easing off this year. Also included in next year’s average will be a new stadium to be shared by the New York Giants and Jets.
The Super Bowl champion Pittsburgh Steelers ranked No. 14 with an average of $67.47, unchanged from last year, while its Fan Cost Index cost rose 2 percent to $391.88, TMR said.
On a Fan Cost Index basis, 10 teams saw their average prices remain unchanged or fall, TMR said.
– By Ben Klayman l Reuters
