Tuesday, August 7, 2007

Fastest Growing Brands in Sports

Forbes has published a study in which they determined the fastest growing brands in sports. They calculated the brand value of the 122 teams in the NBA, NFL, NHL, and MLB by adding up their revenues from sponsorships, naming rights, local media, tickets and merchandise not attributable to demographics. Since their study focused on growth rather than absolute value, that most of the teams on our list are turnaround situations.

According to Forbes, the fastest growing brands in each sport are as follows:

  • MLB: Toronto Blue Jays
  • NFL: Philadelphia Eagles
  • NBA: Cleveland Cavaliers
  • NHL: Buffalo Sabres

from Peter J. Schwartz of Forbes

There's more competition than ever before when it comes to vying for the entertainment dollar, making a powerful brand a top priority for many professional sports teams.

No American sports team has done this as well as the New York Yankees, who are worth $1.2 billion and have set themselves apart by establishing their own cable TV network and forging a $95 million partnership with German apparel maker Adidas. Parent company Yankee Global Enterprises has also reached player development and sponsorship agreements with Chinese and Japanese companies in hopes of broadening its reach.