The Buffalo Bills rank 29th among the National Football League’s 32 teams with a current value of $805 million—and might be its most troubled franchise, Forbes magazine reported this week.
The publication released its annual list of NFL valuations Wednesday, with the Dallas Cowboys at the top at $2.1 billion. The Texas team’s operating income in 2011 was $226.7 million, Forbes reported.
“The Bills are arguably the most troubled franchise in the NFL,” Forbes states. “In both 2010 and 2011, the team had three games blacked out on local television because it could not sell out Ralph Wilson Stadium 72 hours before kickoff.
“The small-market team, one of the league’s hottest tickets 20 years ago, has trouble getting fans to come to Ralph Wilson Stadium despite the second-lowest ticket price ($59) in the NFL last season.”
The New England Patriots are second on the list with a value of $1.64 billion, followed by the Washington Redskins at $1.6 billion, the New York Giants at $1.47 billion and the Houston Texans as $1.31 billion.
The Bills’ operating income in 2011 was $29.4 million, 18th on the list, the magazine reported.
“Fortunately, the Bills are subsidized $7 million a year by (Erie) county and state taxpayers for stadium operating and capital improvement costs,” Forbes states.
“The team’s lease expires after this season, and the Bills want taxpayers to pay for $200 million to $250 million in stadium upgrades as part of the team’s next lease. The state is considering issuing 30-year bonds to finance the renovation.”
The Bills begin the 2012 season Sunday at the New York Jets.
(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.
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