The popularity of the NFL and winning ways have turned the team’s fortunes around, literally.
In a new study, appearing in the September 28th issue of Forbes, the magazine highlights the increased value of the NFL as a whole over the last decade, in particular, the Arizona Cardinals, purchased in 1932 by Charles Bidwill, Sr. for $50,000 are now worth an estimated $1.54 billion dollars.
Long know for their penny pinching methods since moving to Phoenix as the Phoenix Cardinals in 1988, the team has shown a change in their ways over the last decade, especially after moving into the $450 million plus University of Phoenix Stadium in Glendale 10 years ago.
President Michael Bidwill, who took over from his father Bill Bidwill, in the role has shown a great understand for what it takes to make a successful team. From pulling in two Super Bowls into the valley, upgrading the Cardinals training facility over the last two seasons, including an air conditioned practice bubble in Tempe, and paying for great players, great coaches and an excellent GM.
The Cardinals, perennially ranked last in the league in value are now estimated to be 20th out of the 32 teams. Forbes estimates that that the value has appreciated annually by over 7% since 1972 and with back to back winning seasons and aspirations for Santa Clara this year, the team may only get more profitable in the decade to come.