Daily Business Report: Thursday, Dec. 22, 2022
The Most Valuable NFL Teams in 2022
Visual Capitalist — Truman Dru, Featured Creator
The world’s most valuable sports teams include internationally beloved soccer clubs, massive NBA franchises, and renowned MLB teams. But, it’s the National Football League (NFL) that has arguably the most valuable teams in the world.
In June 2022, the Denver Broncos sold for $4.65 billion, a record for the most expensive team purchase. But if other teams were to sell, they’d potentially command an even greater price tag.
Which teams, and conferences, reign supreme in value? This graphic by Truman Du uses data from Forbes last calculated in August 2022 to show the most valuable NFL teams.
NFL Teams by Value
To calculate team values, Forbes used enterprise values (total team equity plus net debt) and factored in each team’s stadium-related revenue. This includes non-NFL revenue that accrues to each team’s owner, but doesn’t account for the stadium’s real estate value.
The findings? NFL teams continue to become more valuable, rising in 2022 to an average of $4.47 billion, an increase of 28 percent year-over-year.
At the top of the rankings, the Dallas Cowboys sit at an estimated valuation of $8 billion, making them the most valuable sports team in the world.
They were the first team to generate over $1 billion in annual revenue thanks to massive sponsorship deals, including an estimated $220 million in stadium advertising and sponsorship revenue.
This is especially impressive, since NFL teams actually share just over 70 percent of football-related revenue. As Forbes points out, the Cowboys have been the most successful at capitalizing on stadium and branding in order to boost external revenues.
As office values plunge, owners appeal tax assessments
By Jack Rogers
Municipalities and school systems that depend on property taxes to fund their budgets may face shortfalls due to the plunge in office values—especially in cities that do annual property assessments—as more and more building owners appeal their assessments.
In jurisdictions that reassess property values annually, owner appeals of tax assessments are up by as much as 40 percent compared to pre-pandemic levels, Bryan Frey, a managing director in CBRE’s valuation consulting business, told the Wall Street Journal this week.
Jack in the Box signs franchise agreement
with operating group for 37 new locations
Jack in the Box Inc. announced a signed agreement with Jeff Yablun and Frank Conley of Cedar Tree Restaurant Group for 37 new restaurants and 46 existing stores in four southeast markets: Nashville, Tenn., Baton Rouge, LA, Greenville, SC, and Charlotte, NC. This signed deal comes on the heels of the brand’s Q4 earnings call, where it was announced that Jack in the Box is projecting positive net unit growth for the first time in four years.
Out of the 267 new franchise commitments that have been signed with Jack in the Box since mid-2021, the Cedar Tree 37-unit development agreement represents their single largest deal.
“We want to partner with brands that have a proven track record of sound operations and a solid existing base while still having ample room for development. With the legacy and presence that its already built, Jack in the Box clearly fit the profile,” said Conley. “We look forward to carrying on the Jack legacy as franchisees during this lively period of growth for the brand.”
Southwestern College and SDSU receive BofA
grants to increase Hispanic healthcare grads
San Diego State University and Southwestern College have each been awarded a two-year $250,000 grant from Bank of America to support Hispanic students pursuing careers in high-growth fields, such as healthcare, through its Progresando Initiative. This initiative is part of Bank of America’s efforts to create economic opportunities for people and communities of color, including a $25 million jobs initiative that includes partnerships with Hispanic-Serving Institutions (HSIs) and colleges to build career pathways for Hispanic students and address the shortage of culturally proficient, Spanish-speaking health providers.
SDSU and Southwestern College were two of 12 HSIs across the U.S. selected to join the program nationally, which also includes education consulting firm EAB providing research, technology, marketing and advisory services to participating HSIs.
City of San Diego Storefront Improvement
Program aims to help revitalize small businesses
Small business owners who are looking for a way to refresh their business might have a solution with the City of San Diego’sStorefront Improvement Program which offers free professional design and financial assistance to improve the curb appeal of local storefronts.
To qualify, businesses must be located in the City of San Diego and have a valid business tax certificate. Applicants also must be a commercial occupant of the property and have a street-level and street-facing property. The program is open to businesses that employ 25 or fewer people.
The program offers 10 hours of design time with a licensed professional and reimbursement of half the project cost up to $8,000. If businesses are located in the SD Promise Zone, a federally designated area, they could qualify for a 30 percent increase of $10,400 in project costs.
To apply, business owners may visit sandiego.gov/economic-development/business/starting/improvement.
SDG&E on its way to achieving a fully zero-emission fleet
To advance its own and California’s goals to reach net zero emissions by 2045, San Diego Gas & Electric (SDG&E) said it has electrified more than 20 percent of its over-the-road fleet and is on track to reach 100 percent electrification of its passenger cars, pickup trucks and sport utility vehicles by 2030. This puts SDG&E well on its way to achieve its goal of operating a fully zero-emissions fleet by 2035, ahead of state mandates.
The latest additions to SDG&E’s fleet include eight fully electric, Ford F-150 Lightning trucks and a zero-emissions hydrogen fuel cell car. SDG&E’s fleet also consists of plug-in and non-plug-in hybrids and vehicles with idle mitigation technologies.
The company also is working to transform transportation beyond its own fleet. To date, it has installed more than 3,400 charging ports and is building thousands more to support medium- and heavy-duty vehicles and equipment.
Attorney Justin Prybutok awarded
‘Golden Sledgehammer’ for 2022
Certified Family Law Specialist Justin R. Prybutok has been awarded the “Golden Sledgehammer” by San Diego-based law firm Antonyan Miranda.
The family law firm’s Golden Sledgehammer is awarded to one attorney annually in recognition of their presence in court and for representing the firm’s key values of strength and tenacity.
In his practice, Prybutok represents a wide range of clients in all types of family law matters, including contested child custody, domestic violence restraining orders, asset division, and jurisdictional disputes. He previously served on the board of directors of the San Diego Family Law Bar Association.
“The Golden Sledgehammer recognizes one of our extraordinary colleagues every year, and is our firm’s highest honor for attorneys,” said Timothy Miranda, Antonyan Miranda co-founder.
Prybutok earned his Juris Doctorate degree from the University of San Diego School of Law and he was awarded the Faculty Honor Scholarship in each of his three years of law school.
St. Paul’s Services’ executives selected
for National Leadership Academy
St. Paul’s Senior Services’ executives Kim Stratman, general manager at St. Paul’s Plaza, and Alberto Aldrete, St. Paul’s PACE (Program of All-Inclusive Care for the Elderly) operations director, were recently selected to participate in the national Larry Minnix Leadership Academy, sponsored by LeadingAge, for the 2023 program year. The Larry Minnix Leadership Academy is a year-long program designed to develop the leadership capacities and core competencies of aging services professionals by tapping into their natural talents and authentic leadership styles. The year-long curriculum provides a leadership foundation rooted in reflective practice—developing a deep understanding of oneself, uncovering one’s unique leadership attributes, and learning how to stretch and leverage those capacities to have the most impact as leaders.
City of La Mesa partners with Interwest
to perform building department services
Interwest Consulting Group has been awarded a contract for full building department services as well as supplemental code compliance services related to building code issues for the City of La Mesa. The city opened an RFP earlier this year to select a firm that could deliver quality services to its residents. Interwest Consulting Group, a SAFEbuilt company, waseager to initiate the process to partner with the city. “Interwest is already present in the area, our staff are local residents and having the opportunity to deliver consistent, high quality and reliable services to this community was something that excited our entire team,”, said Steve Nero, senior director of business development.
Aspen Neuroscience inks $40 million debt deal
Aspen Neuroscience Inc., a private biotechnology company developing autologous cell therapies, has signed a $40 million credit facility with Silicon Valley Bank (SVB). Deal terms were not disclosed. The San Diego-based company has recently announced the achievement of key pre-clinical and corporate milestones, including raising $147.5 million in Series B financing to support the planned studies of the company’s lead product candidate for Parkinson’s Disease, ANPD001: a first-in-kind iPSC based autologous cell therapy.
EDF Renewables North America and MEAG close
on two renewable energy projects in the U.S.
EDF Renewables North America and MEAG, acting in its capacity as Munich Re’s global asset manager, announced the closing on a strategic investment whereby a subsidiary of Munich Re acquired a 50 percent stake in two renewable energy projects in California totaling 310 megawatts of solar and 50 MW / 200 MWh of battery storage. EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy.
Well iQ announces Series A funding
Well iQ, a comprehensive online Patient Engagement Platform, announced the close of Series A funding with Western New York Venture Association/Buffalo Angels. Well iQ also announced the addition of two physician Advisors/Investors to the board of directors, Jason M.Matuszak and Nicholas Violante of Excelsior Orthopedics. Well iQ will use the funding to expand its client base and create additional integrations with electronic health record systems.
Bluestar Genomics rebrands as ClearNote Health
Bluestar Genomics announced the company’s U.S. and international commercialization of its first test for early detection of pancreatic cancer in high-risk patients, and unveiled a new name, ClearNote Health. The company also announced its first international distribution agreement with LifeStrands Genomics, a part of Pathology Asia’s Genomics and Life
ClearNote Health is a cancer detection company focused on enabling people at risk for high-mortality cancers to live longer healthier lives. Utilizing a standard blood draw, the company applies its proprietary epigenomic platform, combining biology and artificial intelligence, to identify DNA-based changes in biology as cancer develops.
Luminia processes over $2.5 billion
in solar financing requests
San Diego-based Luminia accelerated commercial solar and storage adoption in a breakout year for the company by processing over $2.5 billion in financing requests across the U.S. for solar-plus-storage projects averaging over 1 MW, resulting in development agreements for almost 200 MWs of commercial solar projects, with an active development pipeline of an additional 600 MWs. This includes engaging with dozens of real estate portfolio owners, such as Gables Residential, representing nearly 900 million square feet of commercial, industrial, multifamily and hospitality properties.
