Hendrick team, most valuable team in sports at $350Mil
The economic downturn and a saturated licensing market helped spur the decline. Another factor was the near bankruptcy of leading Nascar merchandise company Motorsports Authentics. Despite the revenue drop, the average operating income (earnings before interest, taxes, depreciation and amortization) for the top teams was flat at $7 million. Teams have trimmed budgets by reducing head count, tracking inventory more closely and cutting travel budgets. One area that has not yet been affected is driver salaries–but those cuts will come once contracts start to expire.
NASCAR's top team remains Hendrick Motorsports worth $350 million, the same as last year. They are the New York Yankees, Los Angeles Lakers and Manchester United rolled into one. They dominate on and off the track with the best drivers (home to the top three finishers in the 2009 Sprint Cup) and the most popular racers (three of the four best-selling drivers for licensed merchandise). Hendrick Motorsports is worth 47% more than the second most valuable team, Roush Fenway Racing. The gap in value between the two top teams is similar to baseball with the Yankees (64% more valuable than the Mets) and ManU in soccer (38% more than Real Madrid).
Hendrick is the sports leader when it comes to sponsorship revenues, thanks to the success and popularity of its drivers. Its four cars generate an estimated $115 million in sponsorship revenue annually from the likes of DuPont, Go Daddy, Lowe's, the National Guard and PepsiCo. Hendrick cars have the highest budgets in Nascar, but the huge sponsorship haul allowed Hendrick to turn an operating profit of $20 million last year, the highest in the sport. The value of Stewart-Haas has risen 23% to $98 million, which ranks seventh overall. It is one of only three teams to see an increase in value over last year.
Top NASCAR Teams:
No. 1: Hendrick Motorsports, Current value: $350 million, One-year value change: none
No. 2: Roush Fenway Racing, Current value: $238 million, One-year value change: -12%
No. 3: Richard Childress Racing, Current value: $153 million, One-year value change: -8%
No. 4: Joe Gibbs Racing, Current value: $144 million, One-year value change: none
No. 5: Richard Petty Motorsports, Current value: $124 million, One-year value change: -6%
No. 6: Penske Racing, Current value: $110 million, One-year value change: -1%
No. 7: Stewart-Haas Racing, Current value: $98 million, One-year value change: 23%
No. 8: Michael Waltrip Racing, Current value: $88 million, One-year value change: -12%
No. 9: Earnhardt Ganassi Racing, Current value: $71 million, One-year value change: 1%
No. 10: Red Bull Racing Team, Current value: $59 million, One-year value change: 7%