August 31, 2019
The average attendance at Major League Baseball games has dropped from 32, 382 in 2008 to 28, 341 this year. But that apparently hasn’t affected the value of the franchises.
Case in point: When David Glass bought the Kansas City Royals in the year 2000, he paid $96 million. Yesterday, he sold the club. For one billion dollars.
My math skills are fairly limited, but I’m guessing that’s a better return that Warren Buffett’s Hathaway Fund over the same period of time.