How much are Major League Baseball franchises worth during the pandemic?
The Major League Baseball owners and players have been fighting over money which put a pause on the opening of the 2020 COVID-19 impacted season. But that does not mean people are not interested in either owning a baseball team or trying to get an expansion franchise. New York Mets COO Jeff Wilpon contends there are multiple groups interested in buying his family’s team. The latest publicly known bidder is the group that owns the National Basketball Association’s Philadelphia 76ers and the National Hockey League’s New Jersey Devils, led by Josh Harris and David Blitzer. A potential sale of the team by the Wilpon family to Mets minority stake holder Steven Cohen fell through earlier this year. Alex Rodriguez and Jennifer Lopez are, according to reports, looking to put together a group to purchase the team from Fred Wilpon and Saul Katz.
Meanwhile, despite the pandemic John Loar continues to press ahead in his trek to get a Major League Baseball team for Nashville. Major League Baseball Commissioner Rob Manfred has at various times discussed that MLB could expand. That was prior to the COVID-19 epidemic. Loar has picked out a name for his team, the Nashville Stars and has filed a federal trademark application for a logo which would feature a big red star in the middle which would be flanked by two smaller stars. The logo looks like the Negro Leagues Nashville Stars logo of the 1940s and 1950s. A logo is important, that is what all sports teams sell as players, managers and coaches come and go. Loar is still doing his due diligence of the Nashville market to see if Nashville could support a Major League Baseball team. Loar will need government help to build a stadium, a large cable TV deal and corporate support. Montreal and Portland, Oregon business leaders also want an MLB franchise.