The Price is Right

NEW YORK, NEW YORK - The New York Yankees were sold on this date in 1945 for $2.5 million to Larry MacPhail, Dan Topping and Del Webb. Compare that to what Forbes Magazine estimates the Yankees are worth today, $1.7 BILLION, with a "B".

Even comparing for inflation, major league baseball teams command significantly greater dollars these days.

The list below from Forbes Magazine shows the estimated value of each team as of 2011. Only the Nationals, Indians and Blue Jays have dropped in value since 2007:

1.  New York Yankees $1,700,000,000
2.  Boston Red Sox $912,000,000
3.  Los Angeles Dodgers $800,000,000
4.  Chicago Cubs $773,000,000
5.  New York Mets $747,000,000
6.  Philadelphia Phillies $609,000,000
7.  San Francisco Giants $563,000,000
8.  Texas Rangers $561,000,000
9.  LA Angels of Anaheim $554,000,000
10. Chicago White Sox $526,000,000
11. St. Louis Cardinals $518,000,000
12. Minnesota Twins $490,000,000
13. Atlanta Braves $482,000,000
14. Houston Astros $474,000,000
15. Seattle Mariners $449,000,000
16. Washington Nationals $417,000,000
17. Baltimore Orioles $411,000,000
18. Colorado Rockies $411,000,000
19. San Diego Padres $406,000,000
20. Arizona Diamondbacks $396,000,000
21. Detroit Tigers $385,000,000
22. Milwaukee Brewers $376,000,000
23. Cincinnati Reds $375,000,000
24. Florida Marlins $360,000,000
25. Cleveland Indians $353,000,000
26. Kansas City Royals $351,000,000
27. Toronto Blue Jays $337,000,000
28. Tampa Bay Rays $331,000,000
29. Oakland A's $307,000,000
30. Pittsburgh Pirates $304,000,000

Comparing the cost of living in 1945 with today, the average new home back then cost about $4,600. The same home in 2008 would cost about $280,000 - that's an increase of 61 times. A gallon of gas in 1945 was 15¢. Gas have reached close to $4.00 in the past year. That's an increase of about 25 times. But the value of the Yankees is 480 times greater than it was in 1945. The increase in value is staggering even for middle of the pack teams, such as the Chicago White Sox. Even if the White Sox were worth $2.5 million in 1945, which they most likely were not, the franchise's value as of 2007 is 152 times greater.

Contributing Sources:
Forbes Magazine MLB Team Values, 2011
Forbes Magazine MLB Team Values, 2007
The New York Times, January 26, 1945
Energy Information Administration
US Census Bureau (home prices)

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