It's a good time to be a major league baseball franchise. This is one area where Commissioner Bud Selig has been an undisputed success. I remember when the Rays franchise was awarded to Tampa Bay, I think the consensus was the owners overpaid at about $150M. Now, the value of that franchise may be $400-$500M. That's appreciation. Rumors of the demise of baseball in this country have been proven to be premature.
from Forbes via ESPN:
Forbes -- MLB teams see historic 23 percent surge in average values - ESPN:
Major League Baseball teams can bask in the glow of the biggest year-over-year change in valuation ever calculated by Forbes magazine as they enter a new season, but it's not the popularity of the game or their ballparks the owners have to thank for the surge.
According to figures released by the publication Wednesday, the league's off-the-field investments have helped boost the average worth of the 30 teams by 23 percent to $744 million.
In its report, Forbes, which has been tracking the league's finances since 1998, revealed that the money that all teams made from the $450 million sale of the Montreal Expos in 2006 was invested in hedge funds that are now worth more than $1 billion.
'via Blog this'
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