Billion Dollar Baseball Teams July 27, 2010Posted by tkcollier in Business, Sports.
Tags: Business, Red Sox, Sports, Yankees
The remarkable valuation was apparently placed on the Red Sox — and their cable arm, New England Sports Network — in a transaction earlier this year.
A $9.1 million profit on a $5 million purchase implies a $14.1 million sale. The shares sold amounted to 1.2% of the Sox. By that math, the total value of the club would be $1.2 billion.
The Yankees will surely be worth even more than this if George Steinbrenner’s heirs decide to sell. Forbes magazine puts the value of the Yankees at $1.6 billion. Click on the link below to see how they came up with these numbers.