Forbes: Yankees worth $1B

Belson17 · #1 (**permalink**) 04-21-2006, 02:46 AM

http://sports.yahoo.com/mlb/news;_yl...v=ap&type=lgns

Steinbrenner and an investment group bought the Yankees for 8.7 million (45 million in 2005 dollars) in 1973. Not a bad return on investment, huh?

Palm · #2 (**permalink**) 04-21-2006, 12:26 PM

Someone do the math on 30 years inflation.

anarch · #3 (**permalink**) 04-21-2006, 01:55 PM

Wow...that's just insane! Doggone it, I want $45 million to invest on a team hehe.
Of course, me being the silly "I don't know anything about sports" girl that I am, I'd probably invest in... I don't know... one of the Michigan teams and lose all my money

No offense to any MI fans out there lol.

Belson17 · #4 (**permalink**) 04-21-2006, 02:56 PM

Quote:

Originally Posted by anarch

Wow...that's just insane! Doggone it, I want $45 million to invest on a team hehe.
Of course, me being the silly "I don't know anything about sports" girl that I am, I'd probably invest in... I don't know... one of the Michigan teams and lose all my money

No offense to any MI fans out there lol.

It's almost impossible for any private citizen to buy a professional sports franchise today like Steinbrenner did in '73 with a little financial backing. Today you need ALOT of financial backing. Now, almost always, buyers have to buy the STADIUM also. Just to service your debt can break you...Ask Jerry Jones of the Cowboys. That's why he refused to share Cowboy apparrel revenue because he had such huge debt compared to older owners who didn't owe anything.