Our rankings are based on a combination of more than 400,000 data points and input from nearly 100 executives from across sports business through the end of 2022.
Markets are defined by U.S. Census Bureau designation. Sports properties reflect permanent teams and events.
Utilizing the SBJ Atlas database, approximately one-third of the algorithm is based on what we termed “opportunity,” which factors in the number of sports sponsors, agencies, media partners and other major industry vendors that are headquartered or have a significance physical presence in each market. Only sponsors with at least three North American sports deals were counted and markets received extra credit every time a regionally based brand had a top-tiered local deal, such as venue naming rights, jersey patch or title sponsorship of a major event that is permanently held in the region.
Approximately one-third of the calculations measure each market’s stability in sports. This factors in the number and sustained tenure of major and minor league teams and permanent events (such as a college football bowl game), as well as the number of Division I college athletic programs. For each of these, attendance and venue capacity data was used for the five most recently completed seasons where pandemic-related restrictions were not a factor. This portion also factors in the market’s recent history of hosting and/or winning bids to host major sporting events that do not have a permanent home. The market’s total attendance was indexed against its population and median household income. Venue age is factored in, with extra credit given for new and updated buildings. Markets also could gain or lose points for approving or rejecting referendums conceived to help fund venue construction and/or attract events.
The final portion of the algorithm is based on insights from nearly 100 industry executives who were promised anonymity for their answers to the deliberately broad and vague question, “What is the best place to conduct sports business?” Dozens of those conversations also resulted in insight into which markets were the most difficult in which to do business.
It is worth noting that an early version of our algorithm included credit for on-field success. We deemed that measure to be not meaningful, a decision that was backed by industry executives.
Other sources used for the ranking include the U.S. Bureau of Labor Statistics; CBRE Hotels Research Hotel Horizons reports; STR (hotel data); Federal Reserve Bank of St. Louis; HVS Convention, Sports & Entertainment Facilities Consulting; The Stoll Report on State-Level Funding; and U.S. General Services Administration.
Breakdown by region
Among the top 10 Best Sports Business Cities™, the Southeast and West lead the way with three cities each, followed by the Midwest (2), Northeast (1) and Southwest (1).
