Forbes: Miami Dolphins Worth 'Only' $1.07 Billion - NBC 6 South Florida
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Forbes: Miami Dolphins Worth 'Only' $1.07 Billion

Dolphins grew just 1% in value over past year, are 16th-most valuable franchise in NFL



    Forbes: Miami Dolphins Worth 'Only' $1.07 Billion
    NBC 6 obtained the Miami Dolphins' new logo, which will be formally unveiled in April.

    Forbes released its annual ranking of NFL team values Wednesday, and the Miami Dolphins are just the 16th-most valuable teams in the league.

    That is down a spot from last year's list for Miami. The franchise is worth $1.07 billion according to the financial publication, which estimated the Dolphins earned an operating income of $24.8 million in 2013 on revenue of $268 million.

    Those sound like good numbers, but owner Stephen Ross is probably not pleased to hear his team grew only 1% in value. That figure would probably much larger if he had been successful in his bid to secure public financing for $350 million worth of upgrades to Sun Life Stadium.

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    Besides costing the franchise a chance to host the Super Bowl in 2016, it was a major marketing blow for a stadium that Forbes called "the emptiest venue in the NFL by stadium capacity."

    The Dolphins have the 20th-highest operating income and 17th-highest revenue in the NFL. The most valuable franchise is the Dallas Cowboys (worth $2.3 billion), while the division rival New England Patriots are second (worth $1.8 billion).

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    Ross purchased a 50% stake in the team (along with the rights to Sun Life Stadium and the land surrounding it) for $550 million in 2008. He bought another 45% of the team the next year, bringing up his total price tag to $1 billion (Former majority shareholder Wayne Huizenga still owns 5% of the franchise).

    So from a sale value of $1.05 billion in 2009, the franchise has appreciated a shade above 2% over four years - not even keeping up with inflation.

    At least earnings were up, this year's operating profit is up 71% from the previous year. That won't get Ross into the playoffs, but it's still a lot of money.

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