Steelers’ sixth title not money maker

PITTSBURGH (AP) — The latest Lombardi Trophy added to the Pittsburgh Steelers’ overflowing display case makes them the most successful franchise in the modern era, but even a record sixth Super Bowl title probably won’t make the team more money.

It also is unlikely to increase owner Dan Rooney’s net worth. Or make the Hall of Fame owner look all the wiser for completing a buyout of some of his brothers’ shares of the 76-year-old franchise only weeks before the playoffs began.

Several sports economists said winning a Super Bowl does little or nothing for a franchise’s bottom line during the best of economic times, much less during what may be the nation’s worst financial crisis since the Great Depression.

“There is no evidence that winning a Super Bowl has an impact on franchise value,” said Dennis Coates, an economics professor at the University of Maryland-Baltimore County and the president of the North American Association of Sports Economists.

The Steelers have sold out all home games since 1972. The team is not planning a dramatic increase in ticket prices and is unlikely to greatly increase corporate sponsorships during brutal economic times.

Their Super Bowl payoff may be limited to being known as the NFL franchise envied by all others.

“The theory of valuing an asset would suggest that a franchise’s value is determined by fundamentals like current and future demand for tickets to games, team-branded merchandise and broadcast rights fees,” Coates said in an e-mail. “Since Heinz Field sells out, the attendance demand aspect is likely to be small. Merchandise and broadcast rights are shared by the NFL, so the Steelers would see only a small share of those [1/32nd].”

Teams that play in the Super Bowl typically find the myriad costs to appear in the game exceed what they receive in compensation from the NFL. Despite the Steelers’ coast-to-coast following, their location in a relatively small market means they generate tens of millions of dollars less in corporate sponsorships than the bigger-market teams like the Cowboys and Redskins.