Forbes: Miami Dolphins not gaining in value

The Dolphins had one of the emptiest stadiums in the NFL last season, when it comes to measuring the percentage of seats sold. The team barely saw its value budge, according to Forbes.
The Dolphins had one of the emptiest stadiums in the NFL last season, when it comes to measuring the percentage of seats sold. The team barely saw its value budge, according to Forbes.
Rhona Wise / AP

Forbes released its annual estimate of the finances of NFL teams. The numbers offer another measure of a disappointing 2012 season for the Miami Dolphins.

After failing to win a tax-financed stadium deal, the Dolphins saw only a 1 percent gain in their franchise’s value of $1 billion, according to Forbes. That was tied with two other teams for the second-worst appreciation rate in the league, and far behind the No. 1 finisher of St. Louis, with a 12 percent gain. Forbes estimated the Dolphins’ overall value at $1.074 billion, the 16th best in a league of 32 teams and roughly the same as what owner Stephen Ross paid for the team ($1.1 billion) in 2009. With the Dolphins and related entities owing about $380 million to lenders, Forbes has the franchise carrying the third largest debt load in the NFL — about 36 cents of debt for every one dollar of value.

On the upside, Forbes said the Dolphins posted a $25 million operating profit last season, a 71 percent increase from 2011’s estimate of $14.5 million.


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