Monday, May 17, 1999
Reds worth $163 million, survey says
The Associated Press
The Reds have a value of $163 million and had an operating income of $600,000, according to Forbes magazine.
Fourteen of the 30 major league baseball teams posted operating losses last year, themagazine reported Sunday.
The Los Angeles Dodgers lost $11.7 million on an estimated $108 million in revenue — in large part because of baseball's revenue-sharing system, which has baseball's top 13 revenue-generating teams contributing $100 million to the 15 teams with the lowest revenues.
That didn't stop the New York Yankees — which had to pay $13 million in revenue sharing — from raking in $23 million in net income on a league-best $175.5 million in 1998 revenues.
It's not surprising, then, that Forbes estimates the New York Yankees' value at $491 million, the best in baseball.
The Cleveland Indians, put up for sale last week by owner Dick Jacobs, carry the second-highest value at $359 million, according to the survey.
The estimated values, based on a formula taking into account team revenues, the stadium, debt and city demographics, do not necessarily reflect what a team could get on the open market.
The last baseball team sold was the Los Angeles Dodgers, with Rupert Murdoch paying $350 million in 1998 for the franchise, Dodgers Stadium and other property, including a spring training complex.
Reds Stories
NBA draft lesson: Stay in school
Four jailed after fight during softball game
UC, Miami rank low in women's sports survey
LOCAL GOLF NOTES
'Racing Report' hits on all cylinders
Cauthen rooting for another Triple Crown winner
HIGH SCHOOL RESULTS
Reds page
