The publication estimated the franchise to be worth $650 million in this their annual value estimations, a $25 million increase (4%) increase from a year ago.
That figure ranks the Rays 30th out of 30 MLB teams, another $25 million behind the 29th-ranked Marlins ($675 million) and a bit further behind the top-ranked Yankees ($3.4 billion).
Before you shed a tear in your beer for Stu Sternberg & the minority owners of the Rays...realize they paid about $167 million for the franchise in 2005. That's a 289% return during a period where the stock market appreciated just 70%.
Oh, and even last year's estimated slow 4% growth is twice what the average homeowner will make in an average year on the purchase of a home. Forbes estimates the average MLB franchise appreciated by a modest 7% last year.
Just one more reason why any "problem" in Tampa Bay is not the fans' problem, but simply an issue of the league not sharing enough of its profits across its smaller-market teams.
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I appreciate the thought, but is this really news, or shocking in any way? Team always increase in value. If you are expecting $tu and the gang to break precedent with 90%+ of the other sports owners out there and actually pay for the new stadium in Tampa Bay, you are going to be disappointed. And again, MLB isn't going to start "sharing" more money for a market that has never consistently demonstrated support for a team. Can't we just once acknowledge the elephant in the room? There's traffic congestion and spread out populations in other markets too, yet somehow TB always bottoms the attendance list each year, despite their record.
ReplyDeleteAnd what I pointed out in a previous comment on a previous post is as NO'ah embraces financial solutions by just saying "no", PROGRESSIVE cities with MLB teams are greatly growing together by feeding off each other, ie the Giants, Cubs, Dodgers, Cardinals, etc. (http://www.forbes.com/sites/mikeozanian/2016/03/23/baseballs-most-valuable-teams/#3aa4efd81ddd)!
ReplyDeleteso have these teams,
DeleteNats Park - http://cnsmaryland.org/2015/04/03/nationals-park-spurs-neighborhoods-growth/
AT&T Park - http://www.mercurynews.com/giantsheadlines/ci_6326258
Busch Stadium - http://www.nytimes.com/2013/05/15/realestate/commercial/st-louis-development-plays-off-busch-stadium.html?_r=0
Coors Field -http://www.citylab.com/work/2012/03/how-build-successful-downtown-stadium/1593/
- http://www.bizjournals.com/denver/print-edition/2015/03/27/20-years-later-coors-field-is-still-a-winner-for.html
Fenway Park - http://boston.curbed.com/archives/2015/04/mapping-the-construction-around-fenway-park-on-opening-day.php
Petco Park - http://www.gsb.stanford.edu/faculty-research/case-studies/san-diego-padres-petco-park-catalyst-urban-redevelopment
Target Field - http://www.startribune.com/the-pohlad-family-owners-of-the-minnesota-twins-is-building-up-around-target-field/321914651/
- http://populous.com/posts/target-field-revitalizing-downtown-minneapolis-with-baseball-transit/
NYC teams - http://commercialobserver.com/2014/05/home-field-advantage-the-impact-of-yankee-stadium-and-citi-field/
You see the same thing in cities without MLB too. It's called a booming economy.
DeleteHey look! Tampa is booming without MLB!
Deletehttp://www.cnbc.com/2016/03/18/tampa-a-value-stock-in-transformation.html
Hey look! Pasco Co. is too!
http://www.tbo.com/pasco-county/hear-the-boom-thats-pasco-county-development-20150719/
It's the economy, stupid.
Lets be fair, most of those were years ago in areas that haven't been developed in decades, and it's naive to believe that all the high rises around the proposed stadium in Tampa don't know about a stadium on the way...
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