NOVEMBER 2, 1964 | NEW YORK, NEW YORK – CBS, the broadcasting company, became principle owner of the New York Yankees on this date in 1964. It paid $11.2 million for the privilege. That much wouldn’t pay for the restrooms in today’s Yankee Stadium.
According to Forbes magazine, as of March 2016, the Yankee franchise is worth $3.4 Billion (that’s Billion with a “B”), an increase of over 300-fold from what CBS paid for the team in 1964 [it’s worth more today — 2020
According to Forbes valuations of MLB teams, 17 of them are, as of March 2016, worth more than a Billion dollars:
Team—————–Value
1 New York Yankees…..$3.4 Billion
2 Los Angeles Dodgers…..$2.5 Billion
3 Boston Red Sox…..$2.3 Billion
4 San Francisco Giants…..$2.25 Billion
5 Chicago Cubs…..$2.2 Billion
6 New York Mets…..$1.65 Billion
7 St. Louis Cardinals…..$1.6 Billion
8 Los Angeles Angels of Anaheim…..$1.34 Billion
9 Washington Nationals…..$1.3 Billion
10 Philadelphia Phillies…..$1.24 Billion
11 Texas Rangers…..$1.23 Billion
12 Seattle Mariners…..$1.2 Billion
13 Atlanta Braves…..$1.75 Billion
14 Detroit Tigers…..$1.5 Billion
15 Houston Astros…..$1.1 Billion
16 Chicago White Sox…..$1.05 Billion
17 Baltimore Orioles…..$1 Billion
18 Pittsburgh Pirates…..$975 million
19 Arizona Diamondbacks…..$925 million
20 Minnesota Twins…..$910 million
21 Cincinnati Reds…..$905 million
22 Toronto Blue Jays…..$900 million
23 San Diego Padres…..$890 million
24 Milwaukee Brewers…..$875 million
25 Kansas City Royals…..$865 million
26 Colorado Rockies…..$860 million
27 Cleveland Indians…..$800 million
28 Oakland Athletics…..$725 million
29 Florida Marlins…..$675 million
30 Tampa Bay Rays…..$650 million
Here is a facinating interactive graphic published by Bloomberg in 2013 which shows, among other things, which teams got the most for their money and how valuable TV and radio contracts are, especially in big cities.
CONTRIBUTING SOURCES:
The New York Times, November 3, 1964, by Leonard Koppett
Forbes, “Baseball’s Most valuable Teams,” March 23, 2016
