There’s a rumour floating that the Steinbrenner family is thinking about selling the New York Yankees for $3 billion. And even though the family denies the rumours, a look at the chart below is why they should at least consider the move.
According to Forbes.com, the value of the Yankees, as recently as 2011, was twice as much as the value of the Los Angeles Dodgers. However, with the surge in money being paid to baseball teams for their television rights, the value of the Dodgers jumped 75% last year, and the Dodgers still sold for $2 billion, or 42.9% more than the Forbes.com valuation.
If the Yankees value is 42.9% more than their Forbes.com valuation, the franchise would be worth $2.6 billion. That is a growth in value of 630% since 1998. And the rumour is that the team could sell for even more.
Considering George Steinbrenner was part of a group that purchased the team for $10 million in 1973, $3 billion would be hard to turn down.
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