Enquirer news services
NEW YORK -- Forbes magazine places the value of the Cincinnati Reds at $136 million, a figure that means Marge Schott could expect to get $58 million for her controlling interest in the club.
Schott, who has told Major League Baseball she will entertain offers for her 5.5 shares of the Reds, wants $78 million. The $58 million price tag includes a 17 percent controlling interest premium experts place on the $49.8 million value of Schott's shares.
In its Dec. 14 issue, Forbes ranks North America's major league sports franchises. Estimates are based on 1997 revenue and expenses for baseball and NFL teams, and 1997-98 revenue and expenses for NBA and NHL teams. Forbes said it took into account the teams' facilities.
NFL teams fared best on the magazine's list, topped by the Dallas Cowboys at $413 million. The Bengals were 12th in the 30-team league at $311 million.
The Reds, baseball's oldest franchise, were worth more than only seven other Major League teams. The Yankees were baseball most expensive franchise at $362 million.
The value of the Yankees is far below what Cablevision Systems Inc. and George Steinbrenner have valued the team at in their sales talks -- reportedly $600 million to $1 billion.
