Connect with us

Business

Brand Value of World’s Top Five Sports Teams Jumped by $3bn in 2020

Published

on

LeBron James

The coronavirus outbreak left a huge impact on the entire sports industry, with seasons at risk, revenues plunging and fans staying at home.

However, the world’s most valuable sports clubs managed to increase their worth, despite the COVID-19 crisis.

According to data presented by Safe Betting, the world’s top five sports teams reached $23.8bn in brand value in 2020, a $3bn increase in a year.

Combined Value of Dallas Cowboys and New York Yankees Jumped by $900 Million

With a $5.5bn brand value in 2020, Dallas Cowboys represent the most valuable sports teams globally, revealed the Forbes and Statista data. The five-time Super Bowl winner has topped the Forbes list of the 50 Most Valuable Teams for five years in a row.

In 2015, the club’s franchise value amounted to $4bn. This figure rose by 25% in the next four years to $5bn. Also, America’s Team generated over $870 million in revenue in 2019, 81% percent more than the average of the other 31 NFL teams. Statistics show that the Dallas Cowboys’ franchise value jumped by $500 million since 2019, a 10% jump in a year, despite the coronavirus outbreak.

The New York Yankees ranked as the second most valuable sports club globally, with $5bn in brand value, half a million less than the leading Dallas Cowboys. The Forbes data also revealed the franchise value of the famous American baseball club significantly increased over the years. In 2010, it amounted to $1.6bn. In the next five years, this figure doubled and hit $3.2bn. The increasing trend continued in the following years, with the value jumping to $4.6bn in 2019. Statistics show the New York Yankees’ franchise value rose by $400 million or 9% during the last twelve months.

Brand Value of Top Three NBA Teams Rose by $2.1bn

As the third most-valuable sports club globally, the New York Knicks’ brand value grew by 15% in the last year, rising from $4bn in 2019 to $4.6bn in 2020. Statistics also indicate that the professional American basketball team’s value surged by $2.2bn or 91% in the last five years.

The Los Angeles Lakers took the fourth place on the Forbes list of the 50 Most Valuable Teams in 2020, with $4.4bn in brand value, a 19% increase in a year. In the season 2018/19, the revenue of the Lakers’ franchise amounted to $434 million, a 48% increase in five years.

Golden State Warriors complete the list of the five most valuable sports clubs in the world. The Oakland-based professional basketball team hit $4.3bn in franchise value in 2020, a 22% jump year-on-year. Statistics show the brand value of the top three NBA teams surged by 18% year-on-year to $2.1bn in 2020.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Business

MTN Nigeria, Gameloft Partner to Increase Access to Variety of Exciting Games

Published

on

MTN 1

MTN Nigeria announced it has partnered with Gameloft, a leader in the development and publishing of games, to increase access to a variety of fun and exciting games online.

The telecommunications giant in collaboration with its new partner, Gameloft announced the launch of MTN Gameworld, a new gaming platform for its subscribers.

According to MTN, the new platform will allow the Nigerian growing gaming community access to a lot of unique games online through an extensive premium catalogue from Gameloft and other renowned publishers.

Commenting on the partnership, Srinivas Rao, the Chief Digital Officer, MTN Nigeria, said, “We are constantly seeking to deliver innovative products that support the aspirations of our customers, whilst delivering superior user experience. This partnership allows us to provide our customers with access to a variety of exhilarating games from Gameloft and other leading publishers at an affordable rate.”

MTN Gameworld will allow subscribed customers access to a variety of games, which they can play at subsidised data rates through the MTN Gameworld app. Android, iOS and Windows phone users can subscribe via SMS, app, web, USSD menu (*447#), 131 USSD menu and any other MTN customer channel.

Continue Reading

Business

President Buhari Commissions 5,000bpd Modular Refinery Built in Imo State

Published

on

President Buhari

President Muhammadu Buhari on Tuesday commissioned the 5,000 barrels per day modular refinery built by Waltersmith Group in Imo State.

President Buhari, who commissioned the new modular refinery virtually, said the refinery will enable Nigeria to export petroleum products to neighbouring countries and other markets.

The 5,000 barrels per day Waltersmith Modular Refinery is the first phase of 50,000 barrels per day combined capacity plant planned for Imo State, according to the Group.

Buhari commended Waltersmith Group, an indigenous oil firm, and the Nigerian Content Development and Monitoring Board for the collaboration that led to the actualisation of the modular refinery.

President Buhari, therefore, directed the Ministry of Petroleum Resources, the Nigerian National Petroleum Corporation, the Department of Petroleum Resources and all other relevant government agencies to provide Waltersmith all the necessary support in terms of access to crude oil and condensate feedstock.

Buhari said, “We rolled out our refining roadmap in 2018, to address challenges in the downstream sector. After many years of government giving out modular refining licences without any coming on-stream, we are today seeing a commissioning within two years.

“The plan to commence the expansion of this refinery to 50,000bpd capacity, to refine crude oil and condensate, is a demonstration of the economic reform Nigeria is undergoing.

“The realisation of the refinery roadmap will ultimately lead us to becoming a net exporter of petroleum products, not only to our neighbouring countries but to other wide markets,” he said.

Continue Reading

Business

Elon Musk Net Worth Jumps by $100 Billion this Year to Topple Bill Gates, Mark Zuckerberg, Others 

Published

on

Tesla earnings

Elon Musk, the Chief Executive Officer and founder of Tesla, is now the world’s second-richest person following another surge in the price of Tesla share.

Musk total net worth jumped by $7.6 billion to $110 billion between November 16 and 17 to dethrone Facebook founder, Mark Zuckerberg, from the third position.

Since then, Tesla stock has been on a bullish run and in the last 24 hours added $7.24 billion to Elon Musk’s total net worth, according to Bloomberg Billionaire Index. Bringing the billionaire’s total net worth to $128 billion.

Elon Musk’s net worth rose from just $28 billion in January 2020 to $128 billion on November 24, 2020, representing an increase of $100 billion, the highest by any billionaire.

Musk has finally toppled Bill Gates as the second richest person and for the first time, Bill Gates is the third richest man in the world. This is the first time in almost 40 years that Gates will be in the third position.

Billionaires listed on Bloomberg Index have collectively gained $1.3 trillion this year.

Continue Reading

Trending