MLB commissioner Rob Manfred addressed the media at the conclusion of the owners' meetings around the lockout. As part of comments to the media, he claimed owners would get a better value investing in the stock market than club purchases.
showed average operating income – a form of profits – rising from $21 million in 2014 to $39.7 million in 2018 – a span of just four years.
But what of the claim about the straight sale? Could taking the money and investing in, say, the S&P 500 yield a better return? A look at several recent sales shows very much otherwise. Calculating the profits of the $2.48 billion sale of the New York Mets from Sterling Equities to Steven Cohen is hard to calculate. Sterling’s majority purchase was done over years. But taking a look at the three others around that sale should leave little doubt that Sterling Equities made more than investing in the stock market.David Glass, the former president and CEO of Walmart, purchased the Royals in 2000 for $96 million.
, Glass’ $96 million investment in 2000 would have netted him $321.64 million in 2019. The investment in the Royals was a $512.62 million return over the same investment in the S&P 500.Art collector Jeffrey Loria purchased the then Florida Marlins for $158.5 million in 2002. In 2017 he sold the now Miami Marlins to a group of investors that includes Hall of Famer Derek Jeter for $1.2 billion. When adjusting for inflation, Loria made a profit of $952.
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