Originally posted on New York Mets Report  |  Last updated 10/23/13
Nobody in Major League Baseball, much less commissioner Bud Selig, can be happy about this news. According to “The Daily Ticker,’’ an Internet website that focuses on financial issues, Bloomberg Billionaires is reporting ten teams are worth more than $1 billion, including your New York Mets, who are tied for second with the Dodgers and Red Sox at $2.1 billion. The Yankees, not surprisingly, are first at $3.1 billion. The report was announced as Game 1 of the World Series approached, which has to make MLB executives steaming because their stance has been to always cry poverty. The numbers are 35 percent higher than the annual Forbes figures, which MLB never confirms nor deny. Matt Miller, editor of Bloomberg, said the Dodgers’ sale changed the landscape of how franchises are valued. “ … You have to value all of the assets when it comes to the teams, you can’t just do revenue from ticket sales, concessions and stadium-type deals and merchandising,’’ Miller said. “Really the driver of this is regional sports networks.’’ That brings us to the Yankees’ YES Network and the Mets’ SNY, whose ratings were down by a reported 31.6 percent. However, it is more about than just the number of people who tune in to watch Gary, Keith and Ron. What the Bloomberg report did not reveal was the formula in which a franchise is valued. It is also hard to come up with a number because the news outlet does not have access to the Mets’ books. Also reportedly worth over a billion are the Cubs ($1.3 billion), Giants ($1.2 billion), Orioles ($1.1 billion), Angels ($1.1 billion), Philadelphia ($1 billion) and Rangers ($1 billion). With the exception of the Red Sox and Cubs, all play in new stadiums. The Angels play in a refurbished stadium, plus in weather-friendly Southern California. We’re talking about real estate. The Dodgers’ sale includes the vast acreage for parking outside the stadium, which is what part of the original attraction was for owner Walter O’Malley when he moved the franchise from Brooklyn. The Yankees’ value, in addition to YES and the new stadium, is the brand, which includes 27 World Series titles and a relationship with Manchester United, arguably one of the world’s most popular soccer teams. The Yankees also have a marketing relationship with the NFL’s Dallas Cowboys. Meanwhile, the Mets have SNY, Citi Field and the land surrounding the park. There are plans to rid the area of the auto repair shops across the street and replace them with hotels, restaurants and a shopping center. While those plans are on an architects’ drawing pad, they exist and presumably there is value in that, in addition to the proximity of a major subway stop, highway and LaGuardia Airport. When you are listed as an attraction, being close to transportation outlets enhances your value. The first question is undoubtedly, if they are worth that much, then why don’t they spend more money? It is a logical question, but it must be noted the worth is not simply liquid, and there are different sectors other than the baseball operations where the Mets can’t dip into for player acquisition. It also must be remembered there’s the intangible value of being a professional sports franchise in New York City.
MORE FROM YARDBARKER:
Is Madison Bumgarner a bully?
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Arnold Palmer, one of golf’s greatest ever players, dies at age 87

Report: Russell Wilson believed to have a sprained MCL

WATCH: Travis Kelce shows off nifty dance moves after TD

Report: Miles fired by LSU; Orgeron named interim coach

WATCH: Allen Robinson does 'hands up, don't shoot' after TD

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Jay Gruden sounds off about anonymous locker room leaks

Report: Beckham Jr. one bad penalty away from suspension

Report: Vikings want Peterson to retire in Minnesota

Jose Fernandez killed in boating accident

Michigan is now all-time winningest program in college football history

Wisconsin Badgers serve notice to Michigan State, rest of Big Ten

Ten biggest winners and losers from NFL Week 3

WATCH: What are the best WR-CB rivalries of all-time?

Bill Belichick may be forced to get hilariously creative to fill his quarterback slot

CFB Crash Course: Week 4 - No ranking is safe

Where does Landon Donovan's return rank among these notable athletes?

Five sports stadiums that should be renamed

WNBA playoffs head into second round after single eliminations

A 25-year award tour: Celebrating A Tribe Called Quest

YB Box Score: 9/23 - Win totals and the jobbing renaissance

WATCH: Is Anthony Davis the best Kentucky big man in the NBA?

NFL Kickoff: Week 3 - Pity the perpetually rebuilding Browns

Questions from reviewing the Vegas 2016-17 NBA win totals

MLB News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Where does Landon Donovan's return rank?

WATCH: What are the best WR-CB rivalries of all-time?

Bill Belichick may be forced to get hilariously creative to fill his quarterback slot

Five sports stadiums that should be renamed

WNBA playoffs head into second round after single eliminations

CFB Crash Course: Week 4 - No ranking is safe

A 25-year award tour: Celebrating A Tribe Called Quest

WATCH: Is Anthony Davis the best Kentucky big man in the NBA?

A statistical trip thru Vin Scully’s extraordinary career

Questions from reviewing the Vegas 2016-17 NBA win totals

Today's Best Stuff
For Publishers
Company Info
Help
Follow Yardbarker