Jan 25, 1945: Yankees sold for $2.5m
Submitted by BTGrimes on Fri, 01/25/2013 - 6:00am
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, $1.85 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 2012. Only the New York Mets and Tampa Bay Rays dropped in value from 2011:
1. New York Yankees $1,850,000,000
Comparing the cost of living in 1945 with today, the average new home back then cost about $10,000. The same home in 2008 (before the recession) would cost about $280,000 - that's an increase of 28 times. A gallon of gas in 1945 was 15¢. Gas prices have reached close to $4.00/gallon in the past year. That's an increase of about 25 times. But the value of the Yankees is 740 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 2012 is 240 times greater.
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