Penguins Rank No. 3 Out of 122 Pro Franchises In Bloomberg’s “Smartest Spenders in Sports”
The Pittsburgh Penguins rank third out of 122 pro sports franchises in spending efficiency, according to Bloomberg Business Week.
The Penguins were ranked sixth when the list originally was released last week, but Bloomberg made updates after discovering it had used” incorrect hockey payroll data.”
The national business publication rated the “Smartest Spenders in Sports” after examining the spending habits and won-lost records of all NFL, NBA, NHL and MLB teams over the past five years.
In addition to ranking third overall, the Penguins were No. 2 in the NHL.
The Tampa Bay Rays topped the overall list, followed by the Detroit Red Wings, the Penguins, the Texas Rangers, the Los Angeles Lakers, the Boston Bruins, the Boston Celtics, the New England Patriots, the Green Bay Packers and the Chicago Blackhawks.
According to Bloomberg’s website, “We’ve used payroll data to calculate how much teams spent per win over the past five seasons. We then compared every team against league average, producing a total score we call the efficiency index. The median score for every league is zero. The lower the score, the less a team spent for its wins.”
Bloomberg also added bonuses for wins above .500, playoff wins and championships.
Here is the link to the report: http://www.businessweek.com/articles/2012-08-30/smartest-spenders-in-sports