Business in Baseball

Forbes magazine featured an article two years ago in which they wrote that the Major League Baseball (MLB) team values rose 15% from 2004 to 2005. That is their biggest gain in since Forbes has tracked the leagues' financial success. The major reason for this is the new ballparks, which attract more fans due to activities and features aside from baseball. Although these stadiums are very costly, the teams don't suffer losses because taxpayers mainly pay the money to put up the new stadium. However, the team still receives all the revenues that go along with the new attraction. The article also features the top ten team values. At top ranks the New York Yankees, owned by the infamous George Steinbrenner. The teams' value is estimated at $950 million, almost twice the value of the second-place Boston Red Sox.