The rich have gotten richer. Want to learn how to make a quick billion dollars? Well, it’s a lot easier when you already have one or two billion lying around to invest.
Cleveland Browns owner Jimmy Haslam purchased the franchise for $1.05 billion in 2012, but the team is now worth $1.95 billion. That makes the Browns the 50th most valuable sports franchise in the world, according to a recent study by Forbes. Cleveland was vaulted into slot No. 50 following a solid business year, increasing its value by $200 million, a five percent bump, since 2017.
The Browns’ valuation makes them the 29th-most valuable NFL franchise. Only three NFL franchises, the Cincinnati Bengals ($1.8 billion), Detroit Lions ($1.7 billion), and Buffalo Bills ($1.6 billion), teams operating in similar sized midwest markets as Cleveland, failed to make the Top 50 list.
The biggest rise this year was the Houston Rockets, whose value rose 33 percent coinciding with the team’s sale. Jerry Jones’ Dallas Cowboys’ $4.8 billion price tag makes his franchise the most valuable in the world for the fourth year running. Manchester United, the runner-up, lagged significantly behind the ‘Boys, registering a $4.12 valuation. Real Madrid ($4.09 billion), Barcelona ($4.06 billion) and the New York Yankees ($4 billion) rounded out the top five.
Take a look at the full rankings here.
Notably, neither the Cleveland Indians nor the Cavaliers cracked the Top 50. The Tribe’s $1.05 billion valuation makes them the 24th most valuable MLB team, while the Cavaliers’ $1.35 billion value places them 15th in the NBA. Both figures were retrieved from Forbes.com.