The deal was ballyhooed as a "record price" that was almost "$1 billion more" than the league's last sale (Buffalo Bills in 2014). In the months leading up to the sale it was believed the price would be between $3 billion to $2.7 billion. Not even with the new Fox Thursday TV deal or the enormous tax breaks Tepper is getting from the deal. The $2.28 billion enterprise value is 5.9 times revenue for the 2016 season (perhaps only 5.7 times last year's revenue, which is not yet known). Heck, even the Miami Marlins went for 5.5 times revenue (yes, I know, it was a ridiculously high price, but still).

Source: Forbes June 02, 2018 12:00 UTC