Forbes magazines’ annual ranking of the the “haves and haves nots” has been released, and surprise! The New York Yankees are on top. I know. I had to take my jaw up off the floor too.
The New York Yankees, worth at least $3.4 billion, have held MLB’s top spot since our first estimation of team values in 1998.
It goes beyond the team–the Yankees have their fingers in their own television network, MLS, and college football. They are fucking rich.
As the article points out:
Ancillary businesses are what separate the big boys (teams worth over $2 billion) from their less valuable rivals because MLB’s 30 teams equally share 27% of the league’s overall revenue, versus 65% for the NFL. This is why big market teams with business models that reach beyond the diamond dominate the top of our rankings.
That’s where the money is. Side businesses. Frankly, a better revenue sharing model is needed if smaller market teams hope to keep up. They simply don’t have the opportunity to create these side business? Not everybody can be in New York, Los Angeles, Boston-the top three markets, and it’s not even close. St. Louis is an anomaly at #7, a smaller market that is able to thrive.
Guess where my team, the Rays, ranked? 🙂