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
2.  Los Angeles Dodgers $1,400,000,000
3.  Boston Red Sox $1,000,000,000
4.  Chicago Cubs $879,000,000
5.  New York Mets $719,000,000
6.  Philadelphia Phillies $723,000,000
7.  Texas Rangers $674,000,000
9.  LA Angels of Anaheim $656,000,000
7.  San Francisco Giants $643,000,000
10. Chicago White Sox $600,000,000

The full list

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.

Contributing Sources:
Forbes Magazine MLB Team Values, 2012
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)

This daily dose of baseball history is brought to you by TODAY in BASEBALL. Spread the word. Link www.todayinbaseball.com to your website.