Going by the number of Twitter interactions, the Tampa Bay Buccaneers are amongst the top five most popular US sports teams. The only NFL entity to create more social media chatter was the Philadelphia Eagles. Naturally, the signing of Tom Brady played a dramatic role in increasing the Bucs’ profile, as more laypeople and casual football fans than ever have an interest in the Buccaneers.
Currently, month on month, the Buccaneers are generating more interest online than more established franchises like the New England Patriots, the Dallas Cowboys, and the Pittsburgh Steelers. They are also responsible for tons of traffic on websites that offer NFL & NBA basketball predictions. Thus, all that raises the question, just what is their economic impact on the Tampa Bay economy?
According to Forbes, the Buccaneers, owned by the Glazer Family, which also has Premier League giant Manchester United under their wing, have a total team value of $2.94 billion. They produce annual net stadium revenues of $364 million, spending $245 million per year on player expenses. After their 2021 Super Bowl win, the Buccaneers saw their team value rise by 29%, even though they lost $119 million in stadium revenues for the 2020/2021 season.
One of the problems quantifying their economic impact on Tampa Bay is that Tampa Bay is a label used to describe Florida’s natural harbor and estuary connected to the Gulf of Mexico. Per Axios’ projections, this area missed out on $400 million in sports-related revenues in 2020, most of which would have come from the Buccaneers. During the Super Bowl LV, estimates claimed that it raked in around $60 million. That is a far cry from what host cities earned before the pandemic hit. The same goes for ticket sales, which in 2019 were at $54 million and dropped to just $9 million in 2020. It is hard to precisely pinpoint the economic impact of the Buccaneers on Tampa Bay’s economy, but their annual one is likely above a hundred million.
Tom Brady’s Impact on the Buccaneers’ Business
As soon as the signing of Tom Brady went public, Buccaneers increased ticket prices by 10% to 45%, and they went from the 28th merchandise seller in the NFL to the first one. He also helped boost their valuation by $650 million, as his Bucs jersey instantly became the fastest-selling one in the league. Before that occurrence, no other Buccaneer jersey had made it onto the top fifty charts. Calculations’ put Brady’s RAR (Revenue Above Replacement) $35 million more than Jameis Winston, the team’s former quarterback.
Buccaneers Support Local Small Businesses
In November 2021, the Buccaneers announced that they teamed up with the region’s Chamber of Commerce to help highlight small businesses throughout this area. The program entails five annual recipients from five different categories getting recognized and having grants of $5,000 awarded by the Buccaneers. The end goal of this program is to help minor economic entities expand by giving them access to a wide range of digital tools and providing them with small financial boosts.