Fans are stuck at home, seasons are at risk, and revenue is plummeting. Things might seem terrible for professional sports, but amazingly most of the world's top franchises are worth more this year than last.the world’s leading sports franchises are, look no further than Fred Wilpon’s New York Mets. The Amazin’s, the No.
They are hardly a crown jewel. Wilpon was reluctant to keep pace with the league’s rising payrolls, leaving the Mets without a World Series win since 1986 and bleeding cash long before the coronavirus eliminated more than half the season and all of the franchise’s stadium revenues. That hasn’t stopped an all-star list of buyers from kicking the tires, including hedge-fund titan Steve Cohen and private-equity guru Josh Harris, one of whom will likely end up paying more than $2 billion for the franchise, one of 57 teams worth at least that amount. A decade ago, there was only one that came even close: U.K. soccer club Manchester United, which was the most valuable team on earth in 2010 at $1.83 billion.
Two-time Cy Young Award winner Jacob DeGrom will almost certainly have a new boss signing his checks next season on his five-year, $137.5 million contract.“There is no lack of multi-billionaires that want to get into the sports business right now,” says Sal Galatioto, whose namesake investment firm has handled team transactions for the Chicago Cubs, the Golden State Warriors, the Philadelphia 76ers and other marquee sports properties. “People will pay a premium.
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