10 Updates

The Economics Of Deter Jeter: Past, Present And Future

Feb 13 2014, 3:02am CST | by

Though the writing was on the wall given an injury-plagued 18th season in the big leagues in 2013 at the age of 39, Wednesday’s news that 2014 would be Derek Jeter’s last as a New York Yankee...

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23 weeks ago

The Economics Of Deter Jeter: Past, Present And Future

Feb 13 2014, 3:02am CST | by

Though the writing was on the wall given an injury-plagued 18th season in the big leagues in 2013 at the age of 39, Wednesday’s news that 2014 would be Derek Jeter’s last as a New York Yankee and MLB ballplayer gives one pause to think about the economics associated with Mr. Jeter.  Both in the past, the present, and the future.

By the numbers:

- $265 million……Mr. Jeter’s career gross earnings in salary with the New York Yankees including his 2014 salary;

- $8.1 million…….Mr. Jeter’s estimated endorsement income in 2013 ;

- $63.6 million…..Mr. Jeter’s estimated endorsement income since 2007 alone;

- $2.06 billion…..The nominal growth in the Yankees franchise value from 1996 (Jeter’s first year in the league when the team was valued at $241 million ) to 2013 (when Forbes’ estimated the team’s worth at $2.3 billion );

- $1.94 billion…..The real growth in the Yankees franchise value since 1996.  Jeter isn’t responsible for all of this growth, but if he is responsible for 14% of this growth then that amount alone ($272 million) would exceed the earnings the Yankees have paid him over the years;

- $14.58…………..Average face value price of a Yankees home game in 1996;

- $51.55…………..Average face value price of a Yankees home game in 2013;

- $1,153…………..The average secondary price for Jeter’s last game versus the Boston Red Sox at Fenway Park.  This average was quoted at 5:30 PM ET Wednesday, 278% higher than the average secondary price 3 1/2 hours earlier;

- $290.20………..As of late Wednesday night, the cheapest ticket on StubHub for what would be Jeter’s last regular season home game as a Yankee.  Comparatively, the cheapest seat on StubHub for the St Louis Cardinals final home game of the season is $18.50.

However you slice it, Derek Jeter has had a tremendous financial impact on his team.  For it, he’s been handsomely compensated both on and off the diamond.

=================

Patrick is an Economics Professor at the George Herbert Walker School of Business and Technology at Webster University in St Louis, MO, and the Founder/Director of Sportsimpacts .  Follow him on Twitter .

Source: Forbes Business

 
Update
10

7 weeks ago

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KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakyat ...
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7 weeks ago

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Update
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Update
7

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Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

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Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million in com ...
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Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Mustapa M ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allocation of RM20 ...
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Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Scheme 2014. ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansa ...
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