It’s funny to think back to the days when IFL stock was worth more than the change you find floating around in your couch. But I don’t think anyone really understood at the time how retardedly overvalued IFL stock was. Check this shit out for some perspective:
The IFL, ostensibly created to be a rival for the more established Ultimate Fighting Championship, was, according to its “market cap,” i.e., the stock price multiplied by the number of shares outstanding, valued at a whopping $829 million, which at that particular moment made the company more valuable than ten of the 32 NFL franchises, 29 of the 30 MLB teams, all of the teams in both the NBA and NHL, and all but four European soccer clubs (Manchester United, Real Madrid, AC Milan and Arsenal were the only exceptions).
To put this in even more vivid perspective, the IFL had a higher value than institutions like the New York Knicks, Boston Celtics, Los Angeles Dodgers, New York Mets, Montreal Canadiens, Oakland Radiers, San Francisco 49ers and Los Angeles Lakers – franchises with long and accomplished histories, not to mention large, definable fan bases, merchandise brand value and facilities built for nine-figure sums who shared in national television contracts of substantial proportions.