If you ask their fans, the Highlanders are priceless. But the University of Otago and the Highlanders Rugby Club hope to put a precise figure on how much the franchise is worth to the Dunedin economy.
Department of marketing senior lecturers John Guthrie and Mathew Parackal will lead the team looking at calculating the team's economic impact.
The university sponsors the Highlanders.
''Understanding the contribution an event makes to a local economy is important for all those involved,'' Dr Guthrie said. ''That's not just Dunedin as a city, the Highlanders and the university - it also includes the providers of services to the events.
''Most importantly, it includes the citizens of Dunedin.
''It is good to get an idea of not just the positive economic impacts of having the franchise here but also its social impacts.''
The study will form part of Dr Guthrie's sports marketing course and Dr Parackal's postgraduate course on digital marketing. Survey participants will be randomly selected from ticket data.
Vice-chancellor Harlene Hayne has welcomed the study.
''It is an outstanding project and an outstanding example of co-operation between the university and the Highlanders, and one which will provide students with opportunities to apply their knowledge to a real-life business situation.''