In an ESPN article, sports economists, including Associate Professor of Economics at the College of the Holy Cross Victor Matheson, discuss the record high price tag of Los Angeles Dodgers’ Dodgers Stadium and its surrounding property, which is valued at $1 billion.
In order to accurately predict the stadium’s estimated price, sports economists compared the value of the Dodgers’ property—including the stadium’s many parking lots that could easily be converted for other uses, such as a team museum, —with other teams’ recent sales.
Matheson explained, "As a comparison, the Chicago Cubs went for $845 million two years ago, and I think most people looking at the revenue streams between the Dodgers and Cubs would have them being pretty comparable.”
This "Holy Cross in the News" item is by Sara Bovat '14.
