Quote:
Originally Posted by snootchiebootchies
If pro team sports are declining, I don't think it's hurting the owners. The price of professional sport franchises continue to appreciate at rates way above inflation or the stock market or real estate. A coalition of buyers, led by Derek Jeter, just bought the Miami Marlins for $1.2B. The previous owner, Jeffrey Loria, bought the franchise in 2002 for $158M, so it was a 660% return on investment in 15 years. And the Miami Marlins is a struggling franchise both financially and on the field, who lost their franchise cornerstone last year to boot when ace pitcher Jose Fernadez died in a boating accident. But yet these franchises command huge prices. Like it or not, professional sports is a monopoly and also a status symbol, and that is worth alot of money to the billionaire class.
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If the franchise values keep skyrocketing while the underlying numbers erode away, it's also a bubble.