The Bronx Bombers surpassed the British soccer club for the first time on the latest Forbes Fab 40 list of dominant sports brands.
Forbes now estimates the Yankees name is worth a whopping $340 million. Machester United’s brand, pounded by a currency drop, is now valued at $269 million, Forbes said.
“Certain things are pretty inevitable. The Yankees are a winning team with history, heritage and normal (navy and white) colors – not something hideous,” said Ron Stein, a third-generation owner of family-run Frank’s Sport Shop in the Bronx. (Manchester‘s colors are red and starbrite yellow).
“They’re New York’s team. As long as they keep it clean and don’t play like the Mets, their brand is good for the long run,” he said.
The Yankees brand has mustered a major upswing even with a recession, increasing 57% since 2007, Forbes said.
“People talk about what they’ve been paying their athletes and the cost of building the new stadium, but this shows they’ve been able to generate revenue and name recognition, so the costs have been good investments,” Forbes Executive Editor Michael Ozanian said.
Forbes said the Mets’ brand value tumbled to $144 million from $159 million last February amid falling attendance and growing debt.
The most valuable sporting event brand continues to be the Super Bowl, though the Olympics are gaining ground, Forbes said.
Tiger Woods still commands the most valuable athlete brand despite his sex scandal, divorce and almost two-year losing streak, Forbes said.
Brand values aside, Manchester United still pulls in more cash than any other team on the planet and has an overall value of about $1.9 billion, Forbes said.
The Dallas Cowboys football team is next, worth $1.8 billion, and the Yankees likely could fetch $1.7 billion in a sale, according to Forbes.
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