What if a zero-income NBA franchise only had sportsmen ownership value (utility value) because it consistently produced zero profit? If so, then a Hybrid Income and Market Approach method that adjusts for the weaknesses in the comparables would take the $320 million as the zero-profit value of...

In recent years, there are some sports franchises that have reportedly begun to produce extraordinary net income (e.g., Manchester United, Real Madrid, Dallas Cowboys, Los Angeles Lakers). Simply relying on a multiple of revenue would miss the real differences in net income of these franchises...