Want a Good Investment? Don’t Buy a Sports Franchise

Image from Morguefile.

Want a great investment? Then don’t buy a sports team.

Sure, we’d ALL like to own one. We’d all like to keep our favorite players, trade the dead weight, and tell the coaches how to coach. But guess what? Apparently sports teams are NOT a good investment, at least according to Julian Robertson (who incidentally is a billionaire, so I guess he knows a good investment when he sees one.)

Robertson founded Tiger Management LLC and said sports teams get high bids but they are not worth. Monetarily at least.

According to one source:

“The National Football League’s Dallas Cowboys, at $1.6 billion, are the most valuable sports franchise in the U.S., followed by Major League Baseball’s New York Yankees at $1.3 billion, according to Forbes magazine. There are 19 football teams worth at least $1 billion, compared to none five years ago, while the average baseball team is now worth $472 million, 143 percent more than when Forbes first calculated team values 10 years ago.”

But as we all know, there’s more than money at stake when it comes to owning a sports franchise. Namely: It’s EGO, baby!

Robertson has a net worth of $1.8 billion and yet still thinks he’s too poor to own one. He said, “That’s kind of the toy that every man wants, but I think I’ve done pretty well so far by being poor enough that I couldn’t possibly afford one or even contemplate owning one.”

Still, if I win the lottery I might consider it.