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#32 Cincinnati Bengals

#32 Cincinnati Bengals

Team Value
1
Enterprise value (equity plus net debt) of team based on current stadium deal (unless new stadium is pending).
$4.1BCalculated August 2024
Owner(s)
Michael Brown
Championships
0
Year Purchased
1967
Price Paid
$7.5M
Revenue
2
Net of stadium revenues used for debt payments.
$549M
Operating Income
3
Earnings before interest, taxes, depreciation and amortization.
$76M
Debt/Value
4
Includes stadium debt.
3%
Player Expenses
5
Includes benefits and bonuses.
$312M
Gate Receipts
6
Includes club seats.
$73M
Wins-to-player cost ratio
7
Compares the number of wins per player payroll relative to the rest of the NFL. Playoff wins count twice as much as regular season wins. A score of 120 means that the team had 20% more victories per-dollar of payroll compared with the league average.
94
Revenue per Fan
8
Local revenues divided by metro population, with populations in two-team markets divided in half.
$56
Metro Area Population
2.3M
Media partners
tv: Fox19; radio: ESPN 1530 AM, WEBN 102.7FM, 700 WLW
Revenues and operating income are for the 2023 season and net stadium debt service.
Footnotes
    Revenues and operating income are for the 2023 season and net stadium debt service.
  • 1. Enterprise value (equity plus net debt) of team based on current stadium deal (unless new stadium is pending).
  • 2. Net of stadium revenues used for debt payments.
  • 3. Earnings before interest, taxes, depreciation and amortization.
  • 4. Includes stadium debt.
  • 5. Includes benefits and bonuses.
  • 6. Includes club seats.
  • 7. Compares the number of wins per player payroll relative to the rest of the NFL. Playoff wins count twice as much as regular season wins. A score of 120 means that the team had 20% more victories per-dollar of payroll compared with the league average.
  • 8. Local revenues divided by metro population, with populations in two-team markets divided in half.
In June, the Bengals announced the approval of a $120 million renovation plan to Paycor Stadium. The renovations are set to include enhanced premium locations throughout the stadium, and upgraded concessions and audio/video systems. The approval comes right after the completion of a $40 million renovation to the stadium's lcoker rooms, training room, ribbon video board that goes around the stadium, and upgrades to the club's Pro Shop.
Valuation Breakdown
9. Portion of franchise's value attributable to revenue shared among all teams.
10. Portion of franchise's value attributable to its city and market size.
11. Portion of franchise's value attributable to its stadium.
12. Portion of franchise's value attributable to its brand.
Value Change
17%
1-YEAR CHANGE
12%
ANNUALIZED CHANGE
13
Current team value compared with latest transaction price.
13. Current team value compared with latest transaction price.
Historical
2024
Value1
Enterprise value (equity plus net debt) of team based on current stadium deal (unless new stadium is pending).
$4.1B
2024
$4.1B
Revenue2
Net of stadium revenues used for debt payments.
$549M
2024
$549M
Operating Income3
Earnings before interest, taxes, depreciation and amortization.
$76M
2024
$76M
Player Expenses5
Includes benefits and bonuses.
$312M
2024
$312M
Win-to-Player Cost Ratio7
Compares the number of wins per player payroll relative to the rest of the NFL. Playoff wins count twice as much as regular season wins. A score of 120 means that the team had 20% more victories per-dollar of payroll compared with the league average.
94
2024
94
1. Enterprise value (equity plus net debt) of team based on current stadium deal (unless new stadium is pending).
2. Net of stadium revenues used for debt payments.
3. Earnings before interest, taxes, depreciation and amortization.
5. Includes benefits and bonuses.
7. Compares the number of wins per player payroll relative to the rest of the NFL. Playoff wins count twice as much as regular season wins. A score of 120 means that the team had 20% more victories per-dollar of payroll compared with the league average.
Venue
Paycor Stadium
Owner(s)
County of Hamilton
Concessionaire
Aramark
Year Opened
2000
Average Ticket Price
$102
Seating Capacity
65,500
Cost To Build
$334M
Major Sponsors
Anheuser-Busch InBev
Fifth Third Bank
Geico
McDonald's
Molson Coors
PepsiCo
Key Connections
Graphic of Cincinnati Reds
Cincinnati Reds
Graphic of Cincinnati, OH
Cincinnati, OH

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