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Yankees become first billion-dollar baseball team, according to 'Forbes'


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Posted by: min0 lee

April 20, 2006
CBS SportsLine.com wire reports

NEW YORK -- The New York Yankees became the first baseball team valued at more than $1 billion in the annual estimates made by Forbes' magazine.

The Yankees' value increased 8 percent to $1.026 billion, the magazine estimated in its May 8 issue, which was released Thursday. New York had revenue of $354 million last year before paying $77 million in revenue sharing and $34 million in luxury tax.
Forbes estimated the Yankees had a $50 million operating loss before interest, income taxes, depreciation and amortization.
The Boston Red Sox were pegged with the second-highest value at $617 million, followed by the New York Mets ($604 million), Los Angeles Dodgers ($482 million), Chicago Cubs ($448 million) and Washington Nationals ($440 million).
Tampa Bay was last among the 30 teams at $209 million.
Forbes valued three NFL teams last September at $1 billion or higher: the Washington Redskins ($1.26 billion), Dallas Cowboys ($1.06 billion) and New England Patriots ($1.04 billion).
Cleveland had the highest estimated operating income at $34.6 million, followed by Houston at $30.2 million, Toronto at $29.7 million, Washington at $27.9 million, Atlanta at $27.6 million.
Other than the Yankees, the only teams with estimated operating losses were the Red Sox ($18.5 million), the Mets ($16.1 million), Florida ($11.9 million) and the Los Angeles Angels ($2.6 million).




Posted by: IainDaniel

The Jays increased there value by 34% to 240 million


Posted by: min0 lee

Thats chump change for the Yankees......damn we can buy the Jays...


Posted by: Dale Mabry

Quote:
Originally Posted by min0 lee
Thats chump change for the Yankees......damn we can buy the Jays...

...And still not win the world series.


Posted by: min0 lee

Quote:
Originally Posted by Dale Mabry
...And still not win the world series.



Posted by: bio-chem

i hope he plans on selling before he dies. the inheritance tax for his family will be 46% of the value of the organization. or roughly the cost of 2 bluejays teams


Posted by: min0 lee

Quote:
Originally Posted by bio-chem
i hope he plans on selling before he dies. the inheritance tax for his family will be 46% of the value of the organization. or roughly the cost of 2 bluejays teams
I hope it would go to an owner who invests his profits on the team like The Boss does.


Posted by: bio-chem

Quote:
Originally Posted by min0 lee
I hope it would go to an owner who invests his profits on the team like The Boss does.
you either love him or hate him, but he is committed to putting an amazing team of big names on the field so the fans have something to be proud of.
im still a braves fan though



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