Competition is stronger than ever when it comes to the almighty entertainment dollar, making a powerful brand a top priority for many professional sports teams.
The Yankees have set themselves apart with over 1.2 billion in worth by establishing their own cable TV network. Yes market size does play a role in the value of a team and few teams can hope to match the Yankees brand.
In basketball, the Cleveland Cavaliers, were at the bottom of the barrel until they drafted LeBron James out of high school. Lebron led the team to the NBA finals this season and Cavs tickets are now in big demand. The positive impact of LeBron on the Cavs’ brand has helped the team to crack the top 10 among basketball franchise with a value of $380 million.