I want this to be the most valuable and highly respected franchise in the world.

"But if you look at the fundamental values, this is a valuable franchise that will build the inherent value of the company for the future."

The company, he said, "has got a lot of valuable franchises."

"I am convinced that beginning this rehabilitative process is the best way to protect our valuable franchise."

Brand-new companies crop up on the Net that put longstanding, valuable franchises at risk.

But it's not as if bigger companies didn't have a shot at what is starting to look like a valuable franchise.

Recent transactions have generally been on less generous terms than earlier deals, although exceptions for a few valuable franchises do exist.

The time could be considered a barter payment for the valuable franchises given to all broadcast and cable channels.

"It's a valuable franchise, and we'd like to share in the rewards if it becomes very, very successful," he said.

The Yankees, one of the most valuable franchises in sports, have agreed to pay all construction, operating and maintenance costs for the stadium.