December 02, 2009
On the price of sports franchises c. 1909

The Dec. 2, 1909 NYT reports on the sale of a minor league team:

The deal transferring Little Rock's Southern League baseball franchise to Chattanooga was closed today. The price paid by Chattanooga was $12,000.
The price is approximately $290,000 in 2008 dollars (according to eh.net). This team is renamed the Chattanooga Lookouts, my hometown team while growing up.

Posted by Craig Depken at 09:06 AM in Sports

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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