In January of 1973, George M. Steinbrenner III led a group of investors in purchasing the New York Yankees franchise from CBS. The deal was reported to be around $10 million – not too much money for a chairman and CEO of a shipbuilding company.
Today, Forbes released their annual list of the top 50 most valuable sports franchises. The Yankees, again, find themselves at the top – weighing in at fourth place and valued at around $2.3 billion. Not a bad investment for the Steinbrenner family.
Since the Yankees had struggled for most of the previous decade in the 1960’s, the CBS ownership was willing to part ways with a once golden franchise. What Steinbrenner would do with the organization would transcend business in professional sports heading into the 21st century.
With a gleaming $1 billion state-of-the-art stadium, the Yankees also own the most successful Regional Sports Network in the country – YES. The organization sold part of their interest in the network to FOX, which obtained 49% back in 2012. According to Forbes, “the team’s rights fee from YES will increase from $85 million this season to $350 million in 2042 as part of the deal.”
Although there have been rumors that the Steinbrenners have been “shopping” the team, Hal has repeatedly said that’s not true – and that the Yankees will keep ownership in the family.
Here are Forbes’ top 10. The full list of 50 can be seen here:
1. Real Madrid – Futbol – $3.3 billion
2. Manchester United – Futbol- $3.165 billion
3. Barcelona – Futbol – $2.6 billion
4. New York Yankees – Baseball – $2.3 billion
5. Dallas Cowboys – American Football – $2.1 billion
6. New England Patriots – American Football – $1.635 billion
7. Los Angeles Dodgers – Baseball – $1.615 billion
8. Washington Redskins – American Football – $1.6 billion
9. New York Giants – American Football – $1.468 billion
10. Arsenal – Futbol – $1.326 billion
