Yankees named most valuable Major League Baseball franchise yet again
- Author: Lawrence Cooper Apr 12, 2017,
Apr 12, 2017, 3:22
It comes as no surprise to learn the New York Yankees are the most valuable franchise in baseball, with a reported value of $3.7 billion.
Forbes reported Mike Ozanian notes that the Miami Marlins recently had a handshake deal to sell the franchise for $1.6 billion, although that deal fizzled. The next top names on the list should not be a shock either: Boston Red Sox ($2.7 billion), Chicago Cubs ($2.68 billion), and the San Francisco Giants ($2.65 billion).
The team's estimated value is $1.2 billion, 18th of 30 teams in Major League baseball and below the average of $1.54 billion.
The average Major League Baseball team is now worth $1.54 billion, an increase of 19% from a year ago.
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The eight-highest valued franchise, the Los Angeles Angels, were valued at $1.75 billion with a value growth of 31%.
Over the past 10 campaigns, a team ranked in Forbes' top five has won the World Series on seven occasions. The defending champion Cubs have seen their value skyrocket in recent years.
John George of the Philadelphia Business Journal also pointed towards the lucrative $2.5 billion Comcast deal that just kicked in previous year. Combined, they add between $400 million and $500 million to each team's value, so the Rays' franchise could be worth as little as $325 million on its own. A new plaza, called the Park at Wrigley, adjacent to the stadium, opened Monday. "We're just really fortunate that, pretty much, all the right moves were made to make that happen".
According to ESPN.com's Darren Rovell, George Steinbrenner bought the Yankees for $10 million in 1973.