Tuesday, February 22, 2011

Wisconsin Budget Crisis Solved: Sell the Green Bay Packers

Finally, a reasonable solution to the Wisconsin budget crisis:

"Walker could start by selling the Green Bay Packers. Decades after Akron and Pottsville and Kenosha dropped out of the football business, Green Bay is still, somehow, in possession of an NFL team. It makes no sense. An outdated system of socialized public ownership has enabled an obscure small city to occupy a place in pro sports that by all economic logic should go to a wealthy metropolis.

The average estimated value of an NFL team is already more than $1 billion, but the sale of the Packers should be worth far, far more than that. They are the league's reigning champion, with a stellar young quarterback. If the team were to be condemned and put on the open market, it would be the object of a bidding war, with would-be buyers unrestricted by location. The sales price might even clear the $1.8 billion estimated value of the Dallas Cowboys—eliminating more than half of Wisconsin's budget shortfall instantly."

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