eli5 why are some NFL/NHL/NBA/MLB teams worth more than others?
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A team’s worth/value comes from its ability to make money.
If one team’s stadium is usually half full with tickets available for $20 on game day, while another team in the same league is selling out 25,000 seats every game and has a 10 year waiting list of people committed to season tickets, those teams aren’t worth the same. You’d have to pay more to buy the popular team, because it makes a bigger revenue for its owner.
Also merchandise like frostweaver said. Every time the Yankees release a new piece of merch, they sell a few million more of them than when the Orioles do, both because the city and state have a much bigger population, plus the Yankees’ brand has a bigger national and international following. So again, you’d have to pay more to buy the team (and its brand) because in the Yankees’ case what you’re buying has more potential to make money.
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