Faculty Research at Morehead State University


Steve Chen

Document Type


Publication Date



The National Football League (NFL) is the most valuable league out of America’s “Big Four” professional sports. This paper examined the valuation of the NFL teams during the six-year span from 2011-2017. The data of team’s value and other various information such as average game attendance, winning percentage, and record of stadium renovation and construction were retrieved from various webpages sponsored by Forbes and ESPN. According to the results of analyses, we witnessed the actualization of the Rule of 72 that demonstrated the NFL as a fast-growing vibrant industry. The authors further concluded that involvement in stadium renovation and construction is a more important financial contributor to a team’s value than winning. However, we rejected this common practice in the NFL industry, because the teams are reaping the benefits at the expense of the taxpayers.



To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.