Ben Gilbert

But again, this is just on average.

So some teams are very good at the local revenue, like the Dallas Cowboys, and some teams are very bad at this, like the Bills or the Lions.

And I have some numbers to put that in perspective.

This past year, each team got right around $350 million from the shared league revenue.

But that extra local revenue obviously can cause a gigantic swing in the team's total revenue.

And Forbes has an estimate that the Cowboys made over a billion dollars last year, whereas the Lions only made $450 million.

So not really much on top of the shared revenue from the league.

Right?

So it's also useful, I think, to slice it a different way rather than just the shared versus local.

Here is how the NFL team revenue breaks down purely by product.

So this is essentially answering the question, how does the NFL make money?

So 61% comes from media.

Most of that is the TV from the shared league revenue.

10% comes from general seating, which is regular plastic seats.

Another 10% comes from premium seating.

That's for the proletariat.

Yes.

The premium seating that we mentioned is the suites and all that stuff.

That's a big growing revenue line for the people with nice stadiums.

And most of that is corporate, right?