The Yankees are first in team revenue: $570 million

First in gate receipts: $265 million

First in concessions: $53 million

First in sponsorships: $84 million

First in media rights: $158 million

The Yankees recently sold nine percent of YES Network to News Corp. for $420 million — valuing their own remaining stake at more than $930 million. They generated $215 million more than the Dodgers, who had the second highest payroll last year — the difference being more than the average revenue of the average major league team. The Yankees made more than $340 million dollars than the Washington Nationals (who sit somewhere near the average).

The team isn’t worth three billion because they waiting for Slade Heathcott to mature in Double-A (though they always have the luxury to sign someone as a placeholder and wait). The Yankees have created a titanic company, which, yes, is aided by their geography but also by sound management and winning. The New York Mets, in the same town, have been unable to generate a similarly profitable or dynamic business for an array of reasons — most importantly, though, because they don’t win. And last year, the Yankees, who are consistently the best road draw in the league, missed the playoffs for only second time in 20 years. The team’s ratings fell by a third and its average attendance fell by 3,000 per game, one of the worst drops in baseball. As revenue goes, betting on Ellsbury and McCann (and, fingers crossed, others) to create excitement for fans is a cheaper proposition than failing to make the playoffs for a second year.