On Wednesday, April 10th, Forbes’ released its Baseball Franchise Value list. In it, the New York Yankees got a boost for their egos. The Yankees was named Major League Baseball’s most valuable franchise. The team’s value is now estimated to be $4.6 billion, an increase of 15 percent over last year’s figure. The Yankees made $668 million in revenue, and $29 million in income.
The Yankees Franchise bought back the YES Sports television Network, which broadcasts Forbes’ “SportsMoney” show, for $3.5 billion from Disney in March. The Yankees team is owned by Yankee Global Enterprises, an LLC controlled by the family of the late George Steinbrenner, a Cleveland-based shipbuilder, who bought the team in 1973 for $8.7 million. The Yankees have been members in the American League since 1901, and in the East Division since 1969. The Yankees team has won 40 AL pennants, and 27 World Series championships.
As per Wikipedia, the team won more titles than any other franchise in the four major North American sports leagues. Forty-four Yankees players and eleven Yankees managers were inducted into the National Baseball Hall of Fame, including legends Babe Ruth, Joe DiMaggio, Mickey Mantle, and Yogi Berra. That’s probably thanks to the hefty payroll that the team has used historically to attract talent. The team was originated in Baltimore and moved to New York in 1903. The Bronx-based team was first named the Highlanders, and officially renamed the Yankees in 1913.
In the Forbes most valued “Business of Baseball List”, the Los Angeles Dodgers are ranked second, worth about $3.3 billion. The Dodgers made $549 million in revenue and an impressive $95 million in income. Third place on the list belongs to the World Series champions, the Boston Red Sox, at $3.2 billion, up 14 percent for the year. Next are the Chicago Cubs valued at $3.1 billion, followed by the San Francisco Giants at $3 billion. The New York Mets are ranked in 6th place, with an approximate value of $2.3 billion, up 10 percent in wealth since last year.
Forbes’ franchise value list estimates that the Miami Marlins is the least valuable team, or #30, at $1 billion, one step behind Tampa Bay Rays, which is valued at $1.01 billion.
Last year, on Forbes’ list of Most Valuable Sports Teams, the Yankees were the second highest valued sports franchise in the U.S. and the fifth in the world, with an estimated value of approximately $4 billion. In that 2018 list, the Dallas Cowboys football team, was the top valued sports team, worth an estimated $4.8 billion, up 14% for the year. The Cowboys had actually retained the title of most valuable sports franchise in the world for three consecutive years.