雙語財經新聞 第17期:NBA最有價值的球隊
The average NBA team is now worth $369 million, 1% More than last year. But several of the league’s 30 teams have not fully recovered from the recession, and as a result values are still 2.6% below the $379 million peak average they hit two years ago.
No player in the 64-year history of the National Basketball Association has come close to having the immediate and profound impact that LeBron James had when he bolted the Cleveland Cavaliers for the Miami Heat this summer. The King’ s move accounted for both the biggest gainand drop in team values: the Heat’s worth increased 17%, to $425 million (seventh among the NBA’s 30 teams), and the Cavaliers plummeted 26%, to $355 million (15th).
勒布朗?詹姆斯去年休賽期從克利夫蘭騎士隊轉投至邁阿密熱隊時，對一個球 隊價值所產生的迅猛而深遠的影響，在NBA 64年的歷史中沒有任何一個球員能與 他比擬。小皇帝的轉會遷出了NBA歷史上最大的球隊價值漲跌幅。邁阿密熱隊的市值猛然增長了 17%達到4.25億美金(30支球隊中排名第七），騎士隊市值則暴跌26% 至3.55億美金(第15位)。The Heat sold out their season ticket inventory for the 2010 — 2011 campaign after four straight years of attendance declines. Ticket prices are going up next year and ratings for Heat games on Sun Sports, the Fox-owned regional sports network, have doubled this season. Meanwhile, after winning more than 60 games each of the past two seasons, the Cavs won only eight of their first 45 games this year and owner Dan Gilbert recently announced that prices for Cavs games would be lowered next season.
在之前連續4年球隊比賽上座率下降的情況下，今年邁阿密熱隊售馨了他們2010 ~ 2011全年的季票。球隊明年的票價還將繼續上漲,熱隊的比賽在FOX旗下的 區域性電視網絡SUN SPORTS上的轉播場次也翻了一番。同時，之前連續2年取得常 規賽60場勝利以上的克利夫蘭騎士隊在新賽季開季的45場比賽中僅僅贏了 8場，老 研.吉爾伯特進而宣佈騎士隊下賽季比賽的票價還將下調。
The New York Knicks replace the Los Angeles Lakers as the NBA，s most valuable team, worth $655 million, up 12% from last year. Signing Amar’e Stoudemire has been a big help both on the court and with sponsors. The Knicks sold out their full -season ticket inventory1 for the first time since the 2001 -02 season. The Knicks’ parent company, Madison Square Garden, Inc., signed a sponsorship2 deal with JP Morgan Chasein September that’s worth at least $30 million a year over 10 years.
今年紐約尼克斯隊取代洛杉磯湖人隊成爲NBA最有價值的球隊，其市值6.55 億美元相比去年增漲了 12%。成功簽下阿瑪瑞?斯塔德邁爾在觀衆和贊助商中都取 得了很大的促進作用，使尼克斯隊自2001 ~ 2002#季之後第一次售空所有的季票。 尼克斯的主場運營商，麥迪遜廣場花園有限公司也在9月順勢詞摩根大通公司簽下 了新的合作贊助協議，在今後的10￥裏每年將得到至少3000萬美元的贊助費。Our valuations sometimes differ from the amount teams have recently sold for. Our estimations are based on the team’s current economics (unless ground has been broken for a new building) and do not include the value of real estate. For example, we value the Warriors, who negotiated a more lucrative3 cable deal soon after Peter Guber and Joe Lacob bought the team, at $363 million. One reason the new owners paid $450 million is their lease at the antiquated Oracle Arena expires in 2017 and the building is likely to be renovated, with the team getting a more lucrative lease or a new building entirely.
我們的價值覈算方法有時同球隊的實際售價並不相符。我們是根據球隊現階 段的經濟情況做出評估，不計算固定資產，除了正在投資施工中的。比如勇士隊，在 彼得?古貝爾和喬?拉柯伯以3.63億美元買下該隊後不久又考慮再次轉手，由於球 隊原主場甲骨文體育館的租約將於2017年到 期而且隨後有可能進行整體翻修，下一個新 賣家因此要支付4.5億美元包括將來新的場地 租金或者爲球隊建造一座新的球館。In June, Ted Leonsis purchased the 56% of the Washington Wizards and Verizon Center that he did not already own, plus the Baltimore -Washington D.C. Ticketmaster franchise, in a deal that put a value on the whole enterprise of $551 million. We value the Wizards at $322 million because we only include the revenue the team gets from the Verizon Center, not the value of the real estate itself.
6月份，.泰德?萊昂西斯買下了華盛頓奇 才隊以及威瑞森中心剩餘的56%的股份，再加 上巴爾的摩和華盛頓特區票務網特瑪捷獨家 經營權’這讓他整個產業的價值到達5.51億美 元。我們對奇才隊的估價爲3.22億美元，因爲 我們只計算球隊在其主場本身的收益，不包 括固定資產的價值。The bad economy and a few suspect markets (Minnesota, Sacramento, Indiana among others) drained profitability during the 2009-10 season due to lower ticket receipts. Operating income (earnings before interest, taxes, depreciation and amortization4) fell to an average of $6.1 million, 22% lower than the previous season and the lowest figure since the 2002-03 season. Worse, 17 teams lost money, the most since the lockout-shortened 1998-99 season. Several franchises like the Detroit Pistons and the New Orleans Hornets are on the market, but can’t find buyers at the right price.
2009 ~ 2010賽季整年球票收入慘淡，經 濟不景氣加上對市場前景的懷疑(明尼蘇達、薩克拉門託、印第安納等)使他們的利潤率逐 漸枯竭。營業收入(稅前，未計利息、貨幣貶 值、信貸等因素)跌至平均610萬美元，比上賽季下跌了 22%，創下了自 2002 ~ 2003賽季之後的最低記 錄。更可怕的是，聯盟中有17只 球隊虧損，這也是自1998 ~ 1999那個縮水賽季以來的最高 的記錄。像底特律活塞和新奧 爾良黃蜂等很多球隊的球員都 流入自由球員交易市場，但獲得合同的人聊聊無幾,球員交易市場反應慘淡。However, if NBA commissioner David Stern gets his way, an imbecile would be able to make money running a team. Stern wants to lop $750 million off of player costs, lowering the portion of basketball -related revenue that goes to players from 57% to around 40%. If Stern succeeds, even teams like the Hornets, who were thought to be headed for bankruptcy before the NBA rescued the franchise, would immediately rise at least 30% in value because potential buyers would know they don’t run the risk of writing checks to cover operating losses.
然而，按照NBA總裁大衛?斯特恩的構想，只要擁有一隻NBA球隊，傻子都能嫌 到錢，他打算把聯盟球員工資減少7.5億美元，把球員佔有籃球相關收人的57%降低 到40%左右。如果斯特恩成功的話,哪怕像新奧爾良黃蜂這樣被認爲即將面臨破產 而被NBA官方託管的球隊市值也會至少瞬間提升30%,因爲潛在的賣家不用再擔 心要掏腰包補貼虧損了。
