A few team owners and professional appraisers who specialize in sports sales offered their views on the Forbes estimates and why teams are worth a particular price. We’ll come back to them. First, let’s hear from Kurt Badenhausen. He has been with Forbes as an editor since 1998 and spent many years working on the team valuations, which typically are an explanatory story packaged with a list of estimated team values, revenue and operating income figures. In a phone conversation this week, he peeled back the veil on the process of creating those estimates and noted that the ultra-wealthy can sometimes pay a premium for a team beyond anyone’s expectations – or structure a deal that makes it look vastly different than any estimate.