Yankees’ franchise valuation makes their spending more embarrassing
Hope you all enjoyed the rare cover image of Yankees owner Hal Steinbrenner celebrating a championship (pre-ownership days), because most of his focus these days seems to be building up his own brand’s value all for the sake of … having a valuable brand, we guess?
Accusing Steinbrenner of not spending/being intentionally misleading regarding his franchise’s budget is a slippery slope. The Yankees have never shied away from big-money expenditures in any era, most recently absorbing Giancarlo Stanton’s mega-deal and crafting one of their own for Gerrit Cole.
Despite that, the areas in which they could’ve spent further are plainly obvious. Bryce Harper, Manny Machado, Max Scherzer, Corey Seager and Carlos Correa never got phone calls.
And while it’s also quite possible the Yankees were “hit harder than anyone” by COVID financial losses, considering the sheer scope of their financial might, those losses clearly didn’t hit their behemoth enterprise as plainly as they struck players, employees, and other individuals.
Need more evidence? The latest Sportico MLB franchise valuations just dropped, and the Yankees are at the tippy top of the mountain.
According to the metrics, they’re worth an astounding $7 billion, making them the most valuable MLB franchise and most valuable sports franchise in the entire spectr–SELL THE TEAM, HAL. SELL IT. IT’S NEVER BEEN MORE VALUABLE.
Yankees are worth literally $7 billion in franchise valuation
Again, just keep this in the back of your mind when the Yankees are ducking out of upper-tier free agency pursuits or letting Aaron Judge explore new opportunities.
Actually, keep it in the front of your mind. Very important you don’t forget this.
According to the data, the current average MLB franchise is valued at $2.31 billion as the game transitions from both a lockout and a pandemic-ravaged 2020 (and pandemic-altered 2021). The two most recent MLB sales, Steve Cohen’s New York Mets purchase and the Royals’ changing of the guard, totaled $2.42 billion and an apparent $1 billion bargain respectively.
Even if this valuation is somewhat inflated, Hal Steinbrenner could conservatively double (triple?) that Mets price. After all, at the time, Cohen was buying a distressed asset littered with debt.
No matter how the Yankees perform on the field, they absolutely leak profit and remain a remarkable boon to the ownership enterprise that controls them. They make more than enough money for any personnel move or luxury tax threshold to genuinely throw off their expectations.