(CBS) The Blackhawks have been named the “smartest spender in sports” in a study conducted by businessweek.com.

The report focused on the four major American sports, and the Blackhawks outranked the St. Louis Cardinals, Boston Bruins, New England Patriots and Tampa Bay Rays, in that order.

Here’s the formula businessweek.com used to identity the smartest spenders:

Our ranking of all 122 franchises in the NFL, NBA, NHL, and MLB rates teams based on how much they spent in player payroll for every win during the last five seasons. Each team is compared against the average price per win in its league to produce a score we call the efficiency index. The less a team spends compared with its peers, the lower its score. Playoff victories and championships get extra weight. Payroll data come from the best available published sources.

Playoff wins count for 10 percent of a season (e.g., 16.2 wins in baseball); wild card wins get half credit.

Championships count for 50 percent of a season (81 wins in baseball).

Out of 122 franchises, the Bulls were 27th, the Bears were 57th, the White Sox were 112th and the Cubs were dead last.

Click here for the full study and to see how all the teams stack up.

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