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Facility Age and Ownership in Major American Team Sports Leagues: The Effect on Team Franchise Values

Author

Listed:
  • Phillip A. Miller

    () (Minnesota State University, Mankato)

Abstract

This paper examines the franchise values of American professional sports teams in the NBA, the NFL, and the NHL. It is argued that team franchise values depend on the ownership status of the facility in which the team plays. If a team owns its playing facility, it capitalizes the value of the facility in the team franchise value, driving the latter higher. If a team plays in a facility owned by another entity, the franchise value should be lower. The empirical evidence suggests that the franchise values of NFL and NHL teams are higher for teams that own their playing facilities. No such effect is found for NBA teams.

Suggested Citation

  • Phillip A. Miller, 2009. "Facility Age and Ownership in Major American Team Sports Leagues: The Effect on Team Franchise Values," International Journal of Sport Finance, Fitness Information Technology, vol. 4(3), pages 176-191, August.
  • Handle: RePEc:jsf:intjsf:v:4:y:2009:i:3:p:176-191
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    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. More on the Liverpool Sale
      by Brad Humphreys in International Journal of Sport Finance Blog on 2010-10-16 19:31:19
    2. IJSF Author Q&A: Phil Miller
      by brhumphreys in International Journal of Sport Finance Blog on 2009-08-18 18:48:03
    3. IJSF 4.3 Available
      by brhumphreys in International Journal of Sport Finance Blog on 2009-08-18 02:34:10
    4. Dallas Cowboys' Jerry Jones Joins the Dark Side
      by Phil Miller in Market Power on 2010-03-14 20:07:54

    Citations

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    Cited by:

    1. Daniel, Rascher & Matt, Brown & Mark, Nagel & Chad, McEvoy, 2009. "Free Ride, Take it Easy: An Empirical Analysis of Adverse Incentives Caused by Revenue Sharing," MPRA Paper 25806, University Library of Munich, Germany.

    More about this item

    Keywords

    franchise value; facility;

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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