Yankees Worth $1.3B
Via the AP:
The New York Yankees’ value increased to $1.306 billion US over the past year, according to the annual estimates by Forbes magazine, a rise of 9 % over the past year.
The New York Mets were second at $824 million and the Boston Red Sox third at $816 million, the magazine said yesterday. After that, there was a big gap to the Los Angeles Dodgers ($694 million) and the Chicago Cubs ($642 million).
The Yankees were listed by Forbes as having $327 million in revenue last year and a $47.3 million operating loss, up from a $25.2 million loss on revenue of $302 million the previous year. Forbes’ revenue figure is after deducting revenue sharing payments, which the Yankees estimate at about $92 million. The team also paid approximately $24 million in luxury tax, which is reflected in the operating loss.
Just wait till next year when the new Death Star, errrr, I mean, Stadium is fully operational. It could be closer to two billion.
Forbes are idiots. The economy is faltering, badly. The new ballpark is an albatross that any owner(s) must contend with.