The New York Yankees Empire stands tall in the world of baseball
In the real world, there is a gap between the rich and poor, but in the world of baseball, the gap is between the New York Yankees and everybody else. Given the latest reports, it seems that this gap is widening, but that doesn’t mean that the rest of the
teams are lagging behind. The average price of a Major League Baseball (MLB) franchise is worth close to $523 million, the highest it has ever been.
Forbes magazine has named the Yankees as the top earning team in all of Major League Baseball. The Yankees make massive amounts of money due to the fact that they have three major outlets which rake in big bucks for the Bombers. First off the team generated
$325 million by selling tickets and luxury suites in revenue last year. Next, powerful companies like PepsiCo, MasterCard, Bank of America and Delta AirLines, together give them about $85 million per annum in sponsorship deals. Third, The Yankees Global Enterprises
(YES) Network is the most profitable in the country and earned the Yankees a jaw-dropping $400 million. According to Forbes, the Yankees franchise has just been valued at a whopping $1.7 billion. Al Steinbrenner is the lucky man in charge of the most valuable
franchise in baseball.
The Bronx Bombers have been the most valuable team since Forbes magazine began valuing baseball franchises in 1998. For the 14th year straight, they are on top. In 1998, the Baltimore Orioles came second to the Yankees and at the time the gap
was of 12 percent. But now the gap between them and the current Number 2, the Boston Red Sox, is of an incredible 86 percent.
These reports put to rest the fear of the baseball teams who were anxious due to the recession that the country was facing and how it would affect them. But come recession, or whatever, the baseball fans are as loyal to the game and their teams as they can
possibly be. A staggering crowd of 73 million fans turned up last summer which was only a .4 percent decrease from 2009, but it still managed to come sixth in the highest attendance total of all-time.
Strong attendance by loyal fans and ever increasing local TV ratings along with the teams playing in new stadiums (example, the Yankees) is what contributed to the teams earning greater revenue.
The Boston Red Sox come second to the Pin Stripes, with a team value of $912 million. They are followed by the Los Angeles Dodgers and the Chicago Cubs, valued at $800 million and $773 million, respectively. The New York Mets rank fifth with a collective
team value of $747 million followed by the Philadelphia Phillies who have a team value of $609 million.
Last year’s World Series Champions, the San Francisco Giants earn $563 million. The once bankrupt Texas Rangers have managed to have a team value of $561 million under the leadership of Nolan Ryan. They are followed by the Los Angeles Angels of Anaheim,
$554 million and the Chicago White Sox, $526 million who come in 9th and 10th respectively.
It looks like the business of baseball is alive and well. Teams are thriving even during these tough economic times as the fans are desperately loyal to their teams and their merchandise.
The views expressed in this article are the writer's own and in no way represent Bettor.com's official editorial policy.
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