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Sports Business 101: What are the New York Mets Worth?


 

The New York Mets were added to the National League as an expansion franchise in 1962. Their addition was a response to two different baseball issues, the exodus of the Giants and Dodgers from New York and the formation of a third baseball league, the Continental League.

The National league, which in those days operated more independent from the MLB as a whole decided to expand by two teams and offered ownership of a New York franchise to the Continental League’s ownership group. This group included Joan Payson and her husband Charles Shipman and included William Shea, and George Herbert Walker Jr. (Uncle of President George HW Bush).

Everything about the Mets was homage to the baseball history of New York City. The name itself, while picked for its resemblance to the company that was to manage the team New York Metropolitan Baseball Club, INC. was also the name of a New York team from the late 1800’s who had a short lived history in the old American Association.

Even the Mets colors, Orange and Blue, were from the Dodgers and Giants who had recently left the city for California. The Mets even adopted the home pin stripes of the in city rival New York Yankees.

Since beginning play in 1962 the Mets have won 2 World Series titles (1969, 1986), 4 NL pennants (1969, 1973, 1986, 2000), five division titles, and earned two wild card playoff births.

According to Forbes Sports Money the Mets are currently worth 912 million dollars second only to the New York Yankees in the MLB. Their worth can be broken down like this:

• Sport- 137 million dollars
• Market- 451 million dollars
• Stadium- 165 million dollars
• Brand Management- 159 million dollars

Note: Sport: Portion of franchise's value attributable to revenue shared among all teams. Market: Portion of franchise's value attributable to its city and market size. Stadium: Portion of franchise's value attributable to its stadium. Brand Management: Portion of franchise's value attributable to the management of its brand.

The Mets play at Citi Field which opened in 2009. A look at their stadium details:

Cost to build- 688 Million dollars
Capacity- 42,000
Owner- City of New York

Mets Front office

Owner- Freed Wilpon
President- Saul Katz
General Manager- Omar Minaya
Chief Operating Officer- Jeff Wilpon
Chief Financial Officer- Mark Deskin
VP/General Counsel- David Cohen

Since the Mets are incorporated they are managed by a Board of directors that includes 11 members

Current Mets Coaching Staff

Manager- Jerry Manuel
Batting Coach- Howard Johnson
Pitching Coach- Dan Warthen
First Base- Luis Alicca
Third Base- Razor Shines
Bench Coach- Sandy Alomar Sr.
Bullpen Coach- Randy Areman
Coach- Sandy Alomar Jr.
Coach- Dave Racaniello

New York Mets Farm System

Triple A- Buffalo Bisons
Double A- Binghamton Mets
Single A advanced- St. Lucie Mets
Single A- Savannah Sand Gnats
Single A Short Season- Brooklyn Cyclones
Rookie- Gulf Cost League Mets

Mets and TV and Radio

Mets home games are broadcasted on TV locally on Sports Net New York, a channel co-owned by the Mets, Time Warner Cable and Comcast Cable. Ron Darling and Keith Hernandez are in the TV booth, with Kevin Burkhardt serving as the on the field reporter.

On the radio side Mets games are broadcasted on WHN/WFAN New York with Ed Coleman and Wayne Hagin in the booth.

It is interesting to note that no Mets pitcher has ever thrown a no hitter, and only one player, Tom Seaver, entered the baseball Hall of Fame as a Met.

New York Mets on the Internet

Official Site

New York Mets Examiner

Dom D's Mets Fan Blog

Mets Fan Walk

Global Mets Blog

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, Sports Business Examiner

Josh is a lifelong sports fan who is currently working on his business degree, so it seemed only natural for him to start writing a column examining the role of business in sports.

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