Well, if you ask the NFL owners it isn’t.
But a recent research paper sheds a different light on the business of investing in the NFL.
This research paper written by a division of Navigant Consulting says that the while salaries continue to squeeze net operating income, the appreciation of teams (the average NFL team is worth $1 billion) has created a very sexy (certainly when compared to the $SPY) investment.
The Green Bay Packers are the league’s only publicly traded team so the researchers pulled financial data from that team and the type of information Forbes publishes on the business of the NFL.