Forbes magazine has released their ranking of NFL franchise values, and the Vikings come in near the bottom of the NFL with a value of $774 million. That places them thirtieth out of the 32 NFL teams. . .the only teams ranked below the Beloved Purple are the Oakland Raiders ($758 million) and the Jacksonville Jaguars ($725 million).
What leads to the Vikings' value being so low? Well, according to Forbes. . .
Vikings owner Zygmunt Wilf's biggest asset is the termination of his lease at the Metrodome, which expires after the 2011 season. If Wilf does not have an agreement for a new stadium in Minnesota he will probably move the franchise to Los Angeles, where two separate groups want to build new stadiums. Meanwhile, Wilf has been doing everything possible to increase revenue at the 28 year-old Metrodome, such as selling the naming rights to the field to Mall of America and converting the fop floor of an administrative building next to the Metrodome into the Gridiron Club, a 3,800 square-foot high-class sports bar for which members will pay $2,500 a season in addition to the price they pay for Vikings tickets. The Metropolitan Sports Facilities Commission, which owns and operates the Metrodome, invested $700,000 in the development of the sports bar. Since 2005, Wilf has paid down some $40 million of the $315 million in debt he took on after buying the team.
So, we see pretty much the same thing that we're seeing everywhere in the NFL. . .when a team builds a new stadium, their value skyrockets, and I'm sure that the Vikings will be no exception. I fully expect their value to increase significantly when their new stadium in Minneapolis is built here in a few years.
And if it's not. . .well, I guess it won't be something for the people of Minnesota to worry about. Which would be terrible. But, ever the optimist, I don't see it happening.
Keep it tuned right here for any breaking Vikings news throughout the day, ladies and gentlemen. It certainly has been an interesting last few days, that's for sure. Enjoy the rest of your Thursday!