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The Tampa Bay Buccaneers recently turned down a proposal to buy the franchise for a tick above the $6.05 billion that a group led by Josh Harris paid for the Washington Commanders last year, according to someone familiar with the details who was not authorized to speak publicly. If accepted, it would have set a record for the transaction of an NFL team and a global record for a control sale of a sports team.
The interest to acquire the two-time Super Bowl champions from the Glazer family came from someone deemed a “qualified buyer” in NFL parlance, i.e., they could write the check. Sportico wasn’t able to identify the potential buyer. The Buccaneers did not return requests for comment
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In 1995, Glazer family patriarch Malcolm bought the Bucs for a then-record $192 million, and his children just concluded a 15-month process to seek “strategic alternatives” for its Premier League club Manchester United. The family hired The Raine Group to facilitate a deal for Man United that concluded with Jim Ratcliffe paying £1.3 billion ($1.6 billion at the time) for 25% of the team.
The proposal for the Bucs was unsolicited by the Glazer family, and the two parties discussed the business of the franchise, including its financial results. The Bucs’ revenue ranks in the second quartile of NFL teams, and it generated more than $130 million in earnings before interest, taxes, depreciation and amortization last season.
Sportico valued the Buccaneers at $5.5 billion—ranked 16th overall—in its 2024 NFL team valuations.
The average NFL franchise is worth $5.93 billion, a number boosted by the scarcity value. There are only 32 teams in the league, and they rarely sell, with only four control transactions in the past 12 years. The average NFL ownership tenure is 41 years.
The Bucs have rebounded from a stretch of local TV blackouts and non-sellouts to sell out season tickets each of the past four years, including 2024. The turnaround was boosted by the…
Source link : https://finance.yahoo.com/news/nfl-bucs-rejected-record-6-120000805.html
Author : Sportico
Publish date : 2024-08-14 12:00:00
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