An increasing number of professional sports teams have declared bankruptcy in recent years. Although no bankruptcy court has yet been required to value a bankrupt sports team as an enterprise, it is only a matter of time before such a judicial valuation will be necessary. In this Article, Paul M. Lopez, K.M. Lewis, and Judge D.M. Lynn explain the challenges of valuing a professional sports franchise in bankruptcy, and offer judges and practitioners guidance in undertaking this difficult task. [ABSTRACT FROM AUTHOR]