Knoxville's Jimmy Haslam now has "Johnny Football" as a quarterback for his Cleveland Browns—the team was able to draft Texas A&M's Johnny Manziel late in the first round.
Does this addition to the team mean selling more tickets?
A financial guru of our acquaintance points out that the Cleveland Browns average selling 97 percent of its tickets already. But the ticket price averages $55. The Dallas Cowboys tickets average $100. Even the lowly Houston Texans get $74. So to increase revenue for the Browns, with the addition of a star quarterback, likely means an increase in ticket prices.
And more merchandising sales of Johnny Football memorabilia.
The Cowboys had a profit of $227 million last year on revenues of $500 million. The Browns lost $2.9 million on revenues of $247 million.
The Browns have one of the smallest payrolls in the league at $130 million. The average payroll in the NFL is about $150 million. So the future for the Browns likely means upgrading the team with stars like Manziel in order to sell more merchandise, get more sponsorships, and then be able to raise ticket prices.