Just because the venue at which the Cleveland Browns play their home games is better known as the Factory of Sadness, doesn’t mean the franchise has lessened in value. In fact, the value of the Browns has gone up to just north of a billion dollars.
According to Forbes, the Browns are worth $1.005 billion, which is an an $18 million increase from when current owner Jimmy Haslam purchased the team in 2012. The franchise has nearly doubled in price from the time Al Lerner paid $530 million for the team in 1998.
The Browns have two just winning seasons to their name since returning to the NFL in 1999, and are marred in a stretch of six consecutive double-digit losing seasons.
Despite the lack of success, the team pulled in revenues of $264 million in 2013, which included $48 million in gate receipts.
The team’s value ranks 22nd in the NFL, but the Browns are 35th among all sports franchises in the world. This speaks to the NFL’s power as just two teams were missing from the Top 50 list (Jacksonville and Oakland).
The Browns were the only Cleveland team on the list.
Soccer club Real Madrid is worth the most in the world, and is followed by fellow footballers in Barcelona and Manchester United.
The Dallas Cownboys are the most valuable NFL franchise, coming in at $2.5 billion, which is good enough for fourth in the world.