2007 MLB World Series Business Tidbits
I've was doing some research on the 2007 MLB World Series for this weekend's edition of Sports Business Radio and came across several very interesting tidbits. The first thing that struck me is that this matchup really is a tale of two completely different philosophies when it comes to constructing a baseball team. The Boston Red Sox have the league’s second highest payroll at $143M and have spent big money on free agents like Manny Ramirez JD Drew David Ortiz and Curt Schilling. The Red Sox spent more money on those four players than the Rockies spent on their entire team payroll this season. The Rockies on the other hand have a team payroll of $54M which ranks them 25th out of the 30 MLB teams. And to put this in further perspective the Rockies pay one player 1B Todd Helton close to $17M of that $54M payroll. Matt Holiday who could be the NL’s MVP this season only makes $4.4M. This is a team largely constructed with home grown talent through the team's farm system. Another item I researched for this weekend's show - ticket prices at Fenway Park and Coors Field for this World Series. If you want to attend a World Series game its going to be very very expensive. In Colorado Coors Field has a seating capacity of close to 51 000. In Boston Fenway Park is the smallest park in Major League Baseball with a capacity of roughly 39 000. According to Stubhub the AVERAGE price of a World Series ticket at Fenway Park is $1431.00. The AVERAGE price of a ticket at Coors Field is $869.00. The Rockies sold out of their tickets for Games 3 4 and 5 in two and a half hours. According to StubHub one Red Sox fan paid $10 883 each for two seats at Fenway to tonight's World Series Game Two. Hope that guy has the experience of a life time because he's spending close to $22K just for his seats......forget about his beer hot dog and Red Sox merchandise. Last but not least as we usually do we'll talk about TV ratings. The TV ratings for the last two World Series have been the lowest in MLB history. The poor ratings of the past have not hurt ad sales during this year's World Series though. Fox has essentially sold out World Series ad inventory through Game Five (assuming the Rockies can win a game) with limited inventory available if the series goes to Game Six or Seven. Fox currently is getting slightly more than $400 000 per 30-second spot and expects to get $425 000 for available spots during Games Six and Seven. The net is charging about a 10% increase over last year. Obviously its in Fox's interest for the World Series to last as long as possible so they have more inventory to sell. A 4-game sweep by the Red Sox would likely cost Fox millions of dollars in lost revenue because they'd have to offer refunds or make-goods for the inventory already purchased for Games 5 6 and 7. Last night's Game One World Series TV ratings were up 37% from last year's Cardinals - Tigers World Series Game One. Fox registered an 11.8 overnight rating for the opener of the Red Sox - Rockies series. We'll discuss these numbers and many others as we examine the big business of the 2007 MLB World Series on this weekend's edition of Sports Business Radio.