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Message: [QUOTE="pokercuse08, post: 5304464, member: 6535"] You're hung up on this lack of a market to buy/sell teams, as if that means there are no valuations for these teams. If you walk into a local restaurant, laundromat, or car dealership they are all worth some value that we don't know based on their revenue, debt, profitability, assets, etc. In CFB there would be a ton of demand if ADs started selling shares in football programs. Most of them don't need to sell and would be crazy to do so. You can't say there's no demand for the Dallas Cowboys just because Jerry Jones isn't selling right now. Same concept applies to the top college football programs. As for the last part, if they buy a piece of FSU they're hoping to be out of the ACC anyway. And if they're buying a piece of the ACC, they're getting a risk premium based on the chances of that conference still surviving in 10 years. Investors buy pieces of stuff that might not exist in 5-10 years all the time. [/QUOTE]