BEREA (92.3 The Fan) – Winning does not matter in the business of the NFL.
The Cleveland Browns might be the worst team in the league on the field, but the value of the franchise continues to grow off of it.
Forbes magazine released their annual valuation of the league’s 32 franchises on Wednesday and the Browns came in ranked 27th out of 32 teams at $1.85 billion, an increase of 23 percent from 2015.
The Dallas Cowboys remain the league’s most valuable franchise valued at $4.2 billion, a 5 percent increase from a year ago. New England is second at $3.4 billion and the New York Giants third at $3.1 billion. Conversely the Detroit Lions ($1.65 billion) and Buffalo Bills ($1.5 billion) are the league’s least valuable teams as they are ranked 31st and 32nd respectively.
The Browns’ revenue was listed at $347 million according to the magazine with an operating income of $53 million.
In 2012, Jimmy and Dee Haslam purchased the franchise for $987 million and are due to pay the balance for the remaining 30 percent stake in the team to the Lerner family trust, led by Randy Lerner, in mid-October.
Much like the Lerner family did during their ownership, the Haslam’s have also cultivated a significant philanthropic effort, with an emphasis on education, within northeast Ohio. In addition to the Cleveland Browns Foundation’s annual donations, their 2 largest gifts have come in the last 2 years – a $10 million investment in Breakthrough schools in 2015 and over $3 million this year to provide the Cleveland Metropolitan School district with 5 new synthetic multi-purpose athletic fields.
The Browns have gone 18-41 since the Haslam’s assumed control of the franchise and the merry-go-round of executives, coaches and players has continued in an effort to finally turn the franchise around.