Surprise World Series Teams Usually See Big Jump In Value
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Rockies Should See Financial Boost
From Appearance In World Series |
When the World Series features an unexpected participant, as the Rockies were this year, that team's finances increase by an average of more than 30% in terms of revenue and value over a two-year period, according to Milstead & Paton of the ROCKY MOUNTAIN NEWS. A similar increase for the Rockies could see the team's value top $430M by the end of '08, up from $317M this spring. The Rockies ranked 22nd in Forbes' team valuations this spring. Tigers' financial data is not available for this season, but the previous five "surprise" World Series teams -- '05 White Sox, '04 Cardinals, '03 Marlins, '98 Padres and '97 Marlins -- "each gained at least 22[%] in value," with the average coming in at 36%. Revenues "followed a similar path," as the average two-year boost was 31% with a minimum at 24%. Sports business consultant Maury Brown said he expects the Rockies "will see season ticket sales go up dramatically and that sponsorships will follow suit." Brown: "An increase in the 30s or as high as 40[%] (for the Rockies valuation) isn't out of the realm of possibilities" (ROCKY MOUNTAIN NEWS, 10/31).
TICKET SUIT: In Denver, Arthur Kane reports the Rockies settled a lawsuit with fan Jeff Sobieck, who "wanted to buy World Series tickets and resell them for more than three times the face value." Sobieck sued the team for $13,306 plus the costs of 12 tickets, claiming that he had confirmations for the tickets and his credit card was charged $4,694. He received an e-mail October 24 "saying his order had been canceled." Terms of the settlement were not disclosed (DENVER POST, 10/31).
PRICEY RIDE: The Red Sox yesterday held a parade to celebrate their World Series victory, and in Boston, Dave Wedge reports the police patrol for the event will cost taxpayers near $2M, with "none of it" being paid by the team. While the cost for the parade is unknown, the '04 celebration "cost the city $535,000 in public safety expenses" and the total "World Series Run cost the city $1.9[M]" (BOSTON HERALD, 10/31).
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