Gone are the days when sports teams promised that a new stadium would increase revenue for surrounding business owners. Now they are developing the land around the stadiums as well in order to increase their own revenue.
Bloomberg's Kavitha A. Davidson takes a look at the mixed-use developments (currently 30) that to some extent directly involve team ownership. She also explores how these developments may impact a team's revenue sharing:
As Edwards notes, it's difficult to tell just what kind of impact these mixed-use developments have on teams' financials in terms of mandated revenue sharing. For baseball specifically, he uses MLB's approach to team-owned television networks -- whose revenues aren't subject to revenue sharing outside of television rights fees, which the league sets at "fair market value" -- to guess the same would be true for land development.