Help on DCF of entertainment company

Hey monkeys,

Hoping to get your help on this. I'm working on a DCF for a live sports company and i'm thinking whether i should add the sale of intangibles to the unlevered free cash flow. Intangibles are normally the player contracts, brand, etc.

Now there are two line items corresponding to this transaction. One is the proceeds from the sale and the other one is the gain / (loss) on the sale. I'm thinking of using the entire proceeds from the sale for the DCF since that's the total cash inflow that we're receiving from whoever we're selling it to, right?

Would love your input on this guys

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