How much is sporting success worth?
The question can be answered when the team is also part of a publicly-listed company.
The answer is almost $70 million, judging by the share price of Australia’s only listed sporting club, the Brisbane Broncos.
Broncos shares (ASX : BBL) soared to a record high on Monday, a day after the Brisbane club won the National Rugby League (NRL) Grand Finals for men and women.
At the time of writing the shares were trading at $2.01, which represented a 69 cent (52.3%) increase on the closing price last Friday and capitalised the company at $197.06 million.
This increase represents $67.4 million.
The Broncos beat the Melbourne Storm 26-22 in the NRL decider and the Sydney Roosters 17-16 in the NRL Women’s final, both played in Sunday.
The shares opened at $1.40 and traded as high as $2.01.
The company, incorporated in 1987 and listed on the Australian Securities Exchange (ASX) in 1989, is 69% owned by News Corp (ASX: NWS) unit News Limited, which moved to control after a takeover bid in 2002, having previously held a smaller stake.
