What's their side business? Cable TV. In 2014, The Los Angeles Dodgers, worth $2.5 billion, are the second most valuable team. Even when you add baseball's supplemental revenue sharing from rich to poor teams (48% of the sport's net local revenue) the league splits just 31% of its gross. This is why big market teams with business models that reach beyond the diamond dominate the top of our rankings. Another key: MLB equally divides 27% of the league's overall revenue among its 30 teams, versus 65% for the NFL's 32 teams. Ancillary businesses are what separate the big boys (teams worth over $2 billion) from their less valuable rivals because they increase revenue both directly (regional sports networks and non-baseball stadium events) and indirectly (real estate ventures near the stadium and cross-marketing multiple teams).
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