Chicago Bulls: The world’s 84th most valuable sports property
84. CHICAGO BULLS
Owner: Jerry Reinsdorf
Value: US$399 million
From total revenues of US$165 million in 2008, the Chicago Bulls recorded an operating profit of US$55.4 million, by far the most impressive figure in the NBA. Player expenses for the year were a modest US$67 million while gate receipts totalled US$51 million.
Average ticket price at the Bulls’ 23,500-capacity United Center was US$64 last year. Total attendance for the 2007/08 season was 901,502, an average of 21,987 per game – the second highest in the league. The Bulls co-own the arena with the Chicago Blackhawks NHL franchise.
Chicago White Sox owner Jerry Reinsdorf has controlled the franchise since 1985 when he bought it for US$16 million. Reinsdorf, along with Michael Jordan, has been responsible for the commercial transformation of the Bulls. They are now six-time championship winners and continue to perform well in terms of sponsorship acquisition. The franchise has a large deal with Lexus to brand the arena's club seating area 'the Lexus Club Level.'
The Harris Club restaurant, which opened last year, charges US$15,750 per seat for 45 Bulls and 45 Blackhawks pre-season and regular season games.
The July/August issue of SportsPro magazine features an unprecedented report into the global sports industry, identifying and analysing the world's 200 most valuable sports properties. For more information about SportsPro magazine, click here.
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