Forbes picks up where Financial World left off. The December 14, 1998 issue of Forbes contained the magazine's first-ever valuations of professional sports teams. To no one's surprise, the Yankees topped the list for MLB, with an estimated value of $362 million based on 1997 revenues. The Orioles ($323 million) and Indians ($322 million) followed, with the Twins ($94 million) and Expos ($87 million) at the other end of the scale. However, Forbes did not consider the Yankees MLB's most profitable club in 1997: their estimated earnings of $21.4 million were topped by the Colorado Rockies' $38.3 million. Some of Forbes' estimates appear dubious - notably that the Dodgers earned only $900,000 in 1997, and that the world champion Marlins lost $5.5 million. The magazine also estimated the debt-to-equity ratios of every club, with the Rangers (79%), Giants (89%), Brewers (97%) and Tigers (an incredible 106%) the most highly leveraged. Forbes published 1998 valuations in its May 31, 1999 issue. Once again the Yankees led the field; their record-breaking season helped boost their value 36%, to $491 million. The value of the average non-expansion team rose 11% in 1998, with 22 of the 28 teams worth more than the year before. Exceptions were the Mariners, White Sox, Marlins, Royals, Twins and Expos. The Yankees were also MLB's most profitable club, earning $23 million even after their revenue-sharing payments. Forbes estimated that 14 teams lost money - but since their list of losers includes the Dodgers, Cubs, Red Sox, Mets and Angels, it should be taken with a large grain of salt. Forbes' valuations were accompanied by a diatribe against revenue sharing which opened, "Planned economies sound great in theory but don't work very well in practice," and went on to decry "more revenue socialism." Forbes didn't explain how the owners' decision to change the formula for dividing the revenue from their jointly produced product qualified as a "planned economy" or "revenue socialism." In Arlington socialism for the rich works for Thomas 'shady' Sheiffer and his client,'Arbusto'.They cleaned up when they cleaned out some poor shitkickers that tried to get in their way.What do baseball fields and the communism of the NFL have to do with each other? Fucked if I know,I just work here... http://www.makethemaccountable.com/tax/index.htm Don't get any books out on this,section 215 of the PATRIOT act will start flicking your lethal injection.
